It’s not a question of if, but when you will need to draft a will. The legal fee for drafting a will or other estate planning documents depends on several factors, including the complexity of your estate and whether you have a trust or other assets.
As part of our commitment to helping South Africans experience justice and fairness in their lives, LegalVision provides free information for anyone looking for answers about wills, estates and trusts. Below is some general information about wills and their costs:
How much will it cost you to draft a will?
The cost of a will and living will vary from attorney to attorney. The complexity of the documents and how long they take to draft are two factors that affect the cost.
Experience also plays a role in determining the price, as well as whether or not you use an attorney. If you choose a lawyer instead of drafting your documents, expect higher costs than if you drafted them yourself at home with the help of online templates. A simple will may cost less than one with many complex provisions and instructions for beneficiaries, but even then it depends on who is writing it for you (a professional or yourself).
A living will cost between R450 and R750.
A living will is a document that contains instructions on what type of medical treatment you want if you cannot make your own decisions. It’s not the same as a power of attorney, in which an individual gives someone else authority over their financial, legal and personal affairs. A living will also differ from a will because it doesn’t deal with the distribution of property after death; instead, it focuses on who has decision-making authority should an individual become incapacitated and unable to communicate his or her wishes for medical care.
The cost of a living will depend on the complexity of its contents, who drafted it and whether additional services such as updating or reviewing it after they have made changes (for example because of new medical procedures) are included in this price estimate.
What is included in the drafting of a will?
The cost of drafting will usually include every aspect of drafting such documents, including the review process. The cost of drafting a will vary from attorney to attorney and this is something that you should take into consideration when making your decision. While shopping around for the best price is important, it is equally important that you choose an attorney who has experience in this field.
An updated will would cost between R450 and R750.
If you’re updating an existing will, there’s no need to start from scratch. A lawyer will change your existing will that doesn’t require legal fees. If the changes are large and significant, however, they may require amending the entire document and starting over again.
If you’re making a small change such as changing beneficiaries on a trust account or adding or removing assets from it, they should do this without incurring legal fees in most cases. If you’re changing your estate plans—such as switching trustees or beneficiaries—then it makes sense for a lawyer to draft an entirely new document which can then be executed by all parties involved in the process (including yourself).
