« The other lawyer said they would do our Wills for much less »
I would like to preface this blog by saying that there is nothing wrong with price shopping. I personally price shop, for certain things. It’s not unusual for me to compare prices and try to find the best deals for things our family is planning to order online. But, as Will planning lawyers, we sometimes have to be strategic in our responses to price-shopping clients such that we do not unintentionally undervalue our work and services in the Wills industry as a whole.
This article may apply to more than just Will planning lawyers, but for the purpose of this blog I will concentrate on Will planning lawyers, because I find that there is confusion about the value of what we do nowadays. This is, in my opinion, especially true given:
the willingness of some lawyers to continue to dabble in Will drafting “on-the-side”, and offering standardized documents at exceptionally low prices ; and
online Will kits and “instant” Will producing programs and software.
The above options can be right for you - but they are often more aligned with your desired budget as opposed to your family’s particular needs. If the situation is, in fact, very simple and straight forward, we are happy to suggest more cost effective options. However, if the situation requires more personal and strategic planning, lawyers providing tailored/personalized services should not be asked to reduce their rates to match standardized options.
Here is what a typical price-shopping scenario may look like:
Client: Your services were recommended by XYZ. We are looking to have our Wills and Powers of Attorney drafted with you. What do you charge for these documents?
Lawyer: Thank you so much for reaching out - we really appreciate it and we look forward to the opportunity of providing you and your family with peace of mind in knowing that your testamentary affairs are in order. As for our fees, our Will packages start at $XXX - Fees may increase depending on you and your family’s specific needs. We have a much better idea of costs after our initial meeting.
Client: Woah. That’s definitely more than what we were expecting. The Lawyer down the street said they would do our Wills for much less… We also found a program online that could produce these documents for $XXX.
Who can relate?
I have come to realize that the price-shopper formula is almost always something like: compliment work/services, inquire about pricing, subsequently undermine work/services’ value, and express shock. They may even go into the “bargaining” stage, which may look something like this:
Client: But our situation is very very simple and straight forward and it shouldn’t take you long at all to do. What if we wanted just very simple Wills and Powers of Attorney - could you do it for $XXX?
In my opinion, this can be translated as: “what if you did everything you were already going to do, but cheaper?”
Perhaps we need to take the time to explain what the Will planning process with a lawyer usually involves. Firstly, it is important to understand that it is not just a question of producing documents. It is about crafting practical testamentary documents and instruments that suit your unique and particular needs/wishes that will help protect the future of your family and minimize the three “C’s” - conflict, confusion and costs. It is about organizing your affairs and documents so that your loved ones won’t have to in time-sensitive matters or grieving moments. This cannot be done with the push of a button.
Whether your situation is simple or complicated, as lawyers, we have the responsibility to (amongst other things):
search for conflicts of interest;
verify the client’s identification;
make sure the client has the capacity to provide Will instructions;
make sure the client is not being unduly influenced;
make sure the client understands and approves the content of the document.
These responsibilities take time to accomplish and should only be done by the practicing lawyer. Here is what our typical Will planning process involves:
First, we have an initial meeting/telephone call with the client, to briefly discuss their situation and obtain information from them for file opening purposes.
Second, we have an in-person or virtual meeting to talk in depth about their situation and obtain their instructions. The information we need for that is: an overview of the assets (type, location, rough value, etc.), an overview of the family members or other people / entities important in the client’s life, some initial thinking/conversation about who would be the appropriate choice as estate trustee / attorney under the power of attorney, some initial thinking/conversation about the beneficiaries and how the estate would ultimately be distributed.
After that initial meeting, we prepare summaries for the client’s review and approval and we schedule a subsequent meeting (in person or virtually) for questions and/or concerns and confirmation of instructions.
Once the summaries have been approved, we prepare the draft documents (these can include Wills, Powers of Attorney, Trusts, Advanced Healthcare Directives, Beneficiary Designations, Registered Investments and Insurance Declarations, Personal Property Memorandums, etc.) and send them to the client for their review.
Once we have final approved versions, the clients come in the office for one more review and to have their documents properly signed and witnessed.
Other documents we prepare throughout the mandate include:
Client ID form;
Consent for Joint Mandates
Retainer Agreement
Safekeeping Agreement or Escrow Instructions
Reporting Letter
We can also assist in the preparation of Memos to family members, estate executors, guardians, attorneys, etc. We understand that this detailed approach is not for everyone - and that’s ok. But it is for a lot of people who see the value of what our services can do for their family and their peace of mind - and that’s who we show up for everyday.
As Will planning lawyers, our vision is focused on you and your family. We spend time getting to know your family’s unique situation and we work hard to develop a Will plan that suits you and your family’s needs. We do not provide a « one-size fits all » or standardized Will plan to all of our clients because no family situation is the same.
We take the quality of our work to heart and our rates reflect how much our services will benefit you. We thrive on being the best value - not the lowest price. When it comes to planning for the future of your family and protecting your assets (which we know you’ve worked hard for), we suggest to “shop” for the best option for you, not the best price.
While we do not offer discounts or « price matching », we are conscious of the need for all of our clients to control costs; therefore, we operate as efficiently as possible by utilizing the appropriate professionals, technology, and other cost-saving mechanisms wherever appropriate. We can also, in certain circumstances, offer a smaller service package that is more aligned with the client’s budget.
Our Services
Our boutique firm is devoted to providing legal advisory and drafting services in estate related matters. Testamentary planning, Will and Trust drafting, Powers of Attorney, Probate Applications, Estate Administration, Estate Trustee responsibilities, legal opinions, and more.
