There are generally two different reactions to our legal Will service and yesterday we experienced both. A lawyer tweeted yesterday about our service “Danger, Avoid”, and then an hour later somebody called into our customer service line and said “my mother had a Will written up when she was 85 and was charged $700, we have just re-done it using your service and it was almost verbatim compared to the $700 Will”. Let’s explore these two reactions.
The lawyer didn’t give too many details as to why our service was dangerous, or why it should be avoided, so we’ll have to make some assumptions. Let us assume that the lawyer felt that reducing the process of preparing a Will to a series of algorithms presented in a software package is an over-simplification – to some extent the lawyer may be correct. But what we do know is that it is actually quite unusual for a lawyer to hand-craft a new legal clause to go into a Will, most Wills drawn up by legal professionals are cut and pasted from known precedents. In fact, if you step into a lawyer’s office, you will be asked to complete a blank form, that is then punched into some software, and a Will is generated. In most cases the process is actually exactly the same as what we do. That is not to say that there can be fine-tuning of assets to lessen probate charges and tax liabilities, and more complex estates can benefit significantly from legal and financial advice to reduce the burden of those charges. But for many people the perceived advantage of this guidance is offset by the expense and inconvenience of seeking the advice.
Of course, if a special clause is required, or legal advice is needed, then we would always direct people to a legal professional, and under those circumstances, high legal fees may be warranted. However, in most cases, the process for creating a standard Will is actually far less complicated that filing one’s taxes, and I can imagine a decade or so ago, professional accountants having the same reaction to tax preparation software; “how can you reduce our expertise to a series of Q&A’s in software” but Intuit did it, and it has now become the go-to resource for most people. It is inevitable that more people will turn to software to prepare their Will given their experiences with dealing with legal professionals. And with that, let’s look at the other reaction.
Too often we hear of egregious over-charging by estate planning lawyers and this is ultimately what makes the service at LegalWills.ca, LegalWills.co.uk and USLegalWills.com so successful. We hear of people needing to change the name of their Executor on their existing Will, and being charged in excess of $500 to do this. We hear of 85 year old seniors, who simply want to leave everything to their daughter, being charged $700 for a simple Will.
I think it’s only fair to offer the other side to this discussion. Why would a lawyer charge $500 for what appears to be a minor update? The argument appears to be that the lawyer would effectively have to create a brand new Will because it is conceivable that laws or personal circumstances may have changed since the original Will was written. However, when the new Will looks identical to the original, people justifiably feel ripped off.
We are therefore left with a situation where 60-70% of people do not have a Will, and of those that do, most are not kept up to date. It is a document that everybody should have, so we clearly have a broken system.
We believe that our service currently addresses the needs of about 70% of the people needing a Will. It would be relatively straightforward to build software that could address the needs of 99 percent of the people needing a Will. There will of course still be a need for legal advice from trained professionals, and the hand-crafting of novel and unique legal clauses. But we do feel that the days of charging $600-$900 for a standard Will are thankfully drawing to a close.
For every complaint from the legal profession, we receive fifty thank-you’s from people who have used the services at www.legalwills.ca, www.legalwills.co.uk and www.uslegalwills.com. We feel that we offer a vital service and that for the vast majority of people, the end product of our service is every bit as good as a Will drawn up by a legal professional.