Wills!

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Wills!
Topic Started: Jun 24 2016, 11:31 AM (560 Views)
swing	Jun 24 2016, 11:31 AM Post #1
swing Posts: 9,979 Group: Member Member #359 Joined: August 18, 2006	A year ago we had new wills done. to the tune of 900.00 We decided we needed a couple adjustments. There were two changes, one article to be remove and one changed. His girl of 30 years did the adjustments. We were in the office 15 minutes, to go over and sign off these changes, very simple, 530.00. I was somewhat surprised at the amount charged! I know the lady who did the adjustments from my work days. She looked at me and said "a little high". I said yes, she said, he's not Wayne. Wayne was his partner I always dealt with, but cancer claimed him four years ago at age 54! Tis the profession to be in ladies and gentlemen!



wildie	Jun 24 2016, 12:09 PM Post #2
Veteran Member Posts: 12,173 Group: Member Member #442 Joined: October 11, 2006	swing Jun 24 2016, 11:31 AM A year ago we had new wills done. to the tune of 900.00 We decided we needed a couple adjustments. There were two changes, one article to be remove and one changed. His girl of 30 years did the adjustments. We were in the office 15 minutes, to go over and sign off these changes, very simple, 530.00. I was somewhat surprised at the amount charged! I know the lady who did the adjustments from my work days. She looked at me and said "a little high". I said yes, she said, he's not Wayne. Wayne was his partner I always dealt with, but cancer claimed him four years ago at age 54! Tis the profession to be in ladies and gentlemen! My wife and I had our wills drawn up by a small town lawyer, here in Ontario. He charged us $150 for the two of us. When dealing with lawyers, always ask the price for the service!



swing	Jun 24 2016, 02:00 PM Post #3
swing Posts: 9,979 Group: Member Member #359 Joined: August 18, 2006	This is the third will this firm has done for us. I never thought to ask the cost for these adjustments, thought it would be minimal, however it had to be done, and will be the last. I did call a couple other firms before the new will done last year, as the other one was 15 years old. They were all around 900.00 for two wills!



Shorty	Jun 24 2016, 02:47 PM Post #4
Red Star Member Posts: 2,301 Group: Member Member #1,150 Joined: February 12, 2015	Have you paid yet? It might not hurt the lawyer to ask why it's so high. Reminder that we really need to do a review of ours.



Delphi51	Jun 25 2016, 04:44 AM Post #5
Member title Posts: 13,967 Group: Administration Member #441 Joined: October 10, 2006	You can write your own will. A handwritten will doesn't even require a witness. Plain English is fine. If you need another change, you could just copy it and include the change. Good money for a half hour of work! The most dramatic example is the Saskatchewan farmer who rolled his tractor on top of himself and managed to write a one sentence will with a pencil on the fender before he died. The trouble with lawyers doing the will is they want to include themselves in the probate work, too. That is several per cent of all your assets at the time of death. Edited by Delphi51, Jun 25 2016, 04:49 AM.



blizzard	Jun 25 2016, 05:06 AM Post #6
Gold Star Member Posts: 4,152 Group: Member Member #1,012 Joined: July 8, 2013	In BC a notary can do a Will.



Shorty	Jun 25 2016, 05:16 AM Post #7
Red Star Member Posts: 2,301 Group: Member Member #1,150 Joined: February 12, 2015	blizzard Jun 25 2016, 05:06 AM In BC a notary can do a Will. Call around for prices, notaries aren't nessicarily cheaper.



Trotsky	Jun 25 2016, 05:59 AM Post #8
Big City Boy Posts: 38,319 Group: Member Member #79 Joined: September 8, 2005	swing, That's what you get when you have F. Lee Bailly draw up a will. Online wills are cheap or free and are valid. (Famous tale of a man who wrote on a watermelon: "I leave everything to my friend Jim." It held up in court as valid.) Make sure that you make a will "self proving" meaning the witnesses sign a separate NOTARIZED document swearing that they signed the will. This stands up to probate even if the witnesses are dead or a no-show for whatever reason. Bob's will to me is self proving. Mine to him is not and I should draw a new one as one of my witnesses is already dead. But being married may negate any need. We are one another's heir by intestate. I guess we should arrange for third party inheritance in case we are slaughtered together...apocalypse, nuclear war, etc. (Not that its all that much. :sigh: ) Edited by Trotsky, Jun 25 2016, 06:04 AM.



swing	Jun 25 2016, 08:27 AM Post #9
swing Posts: 9,979 Group: Member Member #359 Joined: August 18, 2006	The trouble with lawyers doing the will is they want to include themselves in the probate work, too. That is several per cent of all your assets at the time of death. Probate I believe in Ab. is only 250.00. I prefer a legal document, however things have changed since it was written, thus the adjustments. Notaries can do wills in Ab. also, but as Shorty says they aren't necessarily cheaper. Yes you best arrange for third party inheritance Trotsky or the gov't if it's similar to this country will be the receipent.



Delphi51	Jun 25 2016, 10:00 AM Post #10
Member title Posts: 13,967 Group: Administration Member #441 Joined: October 10, 2006	swing Jun 25 2016, 08:27 AM Probate I believe in Ab. is only 250.00. That is what the government charges. I shouldn't have used the word "probate". I mean what the law firm may charge for doing the probate and handling the distribution of money to the heirs. I only have one experience with it, when an Uncle died in Saskatchewan. He had had two lawyers in the same firm involved and they each charged the maximum allowed by the provincial government which was, I think, 3%, each. I remember finding the maxima for all the provinces at that time but can't find it now. Quote: If the executor is a trust company, the person making the Will will agree on a fee schedule with the trust company at the time the Will is made. The Will should state that an agreement was signed. That way, it is clear to all parties involved how much the person making the Will wanted the trust company to receive in fees. .... In Alberta, the accepted range of compensation is between 1% and 5% of the deceased's estate. Where an given executor falls within that range will depend on how complicated the estate is, whether there were any unique legal situations, the value of the assets, the amount of responsibility handled by the executor, how much time he or she put in, and other factors. http://estatelawcanada.blogspot.ca/2009/09/executor-compensation-how-do-we-know.html Edited by Delphi51, Jun 25 2016, 10:02 AM.



swing	Jun 25 2016, 03:51 PM Post #11
swing Posts: 9,979 Group: Member Member #359 Joined: August 18, 2006	It sounds as though your uncle appointed the lawyer as executor, thus he would charge the max. at the time. I had a great uncle in Sask. who appointed his friend my bank mgr. his executor, he charged 10% at that time which was 1965. I do know lawyers charge plenty to distribute monies and wrap up an estate. DH did what he could for his dad's estate including filing the taxes etc. He received the lawyer's invoice and low and behold he had charged for doing the taxes! DH called and reminded him of such, thus he saw fit to cut the bill by 100.00, what a joke!



Trotsky	Jun 27 2016, 01:31 AM Post #12
Big City Boy Posts: 38,319 Group: Member Member #79 Joined: September 8, 2005	I spent MONTHS probating my mother's rather simple will, including two trips to probate court and a Hell of a lot of effort to file Pennsylvania Inheritance tax, really complicated mess, and I took $100 for my fee and even with that pittance my sister moaned that I was being unfair taking more than she got for sitting on her ass. (I think I paid myself less than a dollar an hour.)



Shorty	Jun 27 2016, 05:26 AM Post #13
Red Star Member Posts: 2,301 Group: Member Member #1,150 Joined: February 12, 2015	Trotsky, your type of sister is the reason why I'd never use a DIY kit, if there is anyone who might grumble about anything. When it comes to money, resentments hit the fan. Prorating a will is a BIG job. $100 was a bargain.



swing	Jun 27 2016, 08:37 AM Post #14
swing Posts: 9,979 Group: Member Member #359 Joined: August 18, 2006	I spent MONTHS probating my mother's rather simple will, including two trips to probate court and a Hell of a lot of effort to file Pennsylvania Inheritance tax, really complicated mess, and I took $100 for my fee and even with that pittance my sister moaned that I was being unfair taking more than she got for sitting on her ass. (I think I paid myself less than a dollar an hour.) Family are a pain in the ass when it comes to inheritances! I only had one sibling as you did, he thought he should've had it all. He pretty much did being the only son and heir, today he's deceased and sil is sitting on 2.5 million of my dad's farmland! One must have a pee pee to inherit farm land!



Darcie	Jun 27 2016, 11:31 AM Post #15
Skeptic Posts: 31,154 Group: Member Member #714 Joined: March 30, 2010	This reminds me that my executor died last year, and the legal firm that drew up my will is no more, all the lawyers are dead. My will was drawn up in Quebec which has a different civil law than the rest of the country. Will have to check up on this. Edited by Darcie, Jun 27 2016, 11:34 AM.



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