Will Planning Process & Pricing

Step 1

AWARENESS

Most people recognize the importance of a Will but few give it the priority it deserves. We conduct Legacy Seminars to create awareness of the benefits and applications of Will and Trust. It is through a better understanding of the issues that many thoughtful individuals begin to write their Wills.


Step 2

PREPARATION

A clear intention on what you wish to achieve through a Will is most essential.

Details such as name, NRIC/PP No., address, relationship of your executor(s)/trustee(s), guardian(s), beneficiaries would be useful for a start. Any outstanding information can be communicated later through email.


Step 3

DISCOVERY

This first meeting is most crucial. This is where we value add to our clients. It's a dialogue to understand your intentions and instructions. We offer suggestions and propose solutions. A simple questionnaire is not adequate.

This Discovery session usually takes more than an hour. At end of session, I would be able to quote you the Will Fee. It starts from $340 for the simplest Will and progresses to $440, $550, $700, $850, $1050, and so on, depending it's complexity. You can decide to proceed by placing a down payment or choose to discontinue the process without obligation.

Note: Please bring along your cheque book so as to help us expedite the process (all prices are before GST).


Step 4

WILL DRAFT(S)

With my written Will instruction, Rockwills Corporation would commence on your first draft. We will send to your designated email address. You can have the Will draft ammended as often as you want until you are totally satisfied.


Step 5

ATTESTATION

When the final draft is in order, we will get together to attest (sign) the Will in the presence of two witnesses. The witnesses cannot be any of the named beneficiaries or their spouses. Attestation itself should not take more than half an hour.


Step 6

WILL CUSTODY

Rockwills provides a Will Custody Service for safe keeping of Wills. You have a choice of Annual Custody at $80 per annum or a Lifetime Custody at $800, single payment. Will custody is compulsory for the first year.

Note: All prices are before GST.


Step 7

WILL REGISTRY

After attestation, your Will is registered at the Wills Registry set up by the Insolvency Public Trustee Office (IPTO). This is to facilitate relevant persons in locating your Will.


Step 8

INVENTORY OF ASSETS

Your asset inventory helps your family and executor(s) know what you have and where they are. This would certainly help speed up the probate process. An Asset Inventory booklet is available from our website.


Step 9

WILL RE-WRITE

For most people, their first Will is not their last Will. A Will is often subject to change down the road. You may later wish to change your intentions, executor(s), guardian(s), beneficiaries, etc.

Rockwills do not treat their client's subsequent Will re-write as a new Will and charge the full fee, if not more. We do not do that. Will re-write fee is based on the number of clauses amended. On top of that, we give a further discount if your Will is in our custody.