Our ServicesProcess & Pricing
Will Planning Process
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.
A clear intention on what you wish to achieve through a Will is most essential.
Details such as name, ID No., address, relation to your executor(s)/trustee(s), guardian(s), beneficiaries would be useful for a start.
This first meeting is most crucial. This is where you will find the most value. It is 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 the end of the session, we would be able to quote you the Will Fee. Our fees start from $480 for the simplest Will, and the fees will be adjusted upwards depending on its complexity. You can decide to proceed by placing a down payment or choose to discontinue the process without obligation.
With a downpayment made, we then commence on your first draft. Your first draft will typically be ready within 3-5 working days.
We are ready for some back and forth with amendments you may wish to make. Do expect several iterations before you are comfortable with the contents of your Will.
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 spouse.
Only the original signed will is recognised by the Courts.
Precepts provides a Will Custody Service for the safe keeping of your Will. You have a choice between Annual Custody and a one-time payment for Lifetime Custody. Will custody is complimentary for the first year.
After attestation, you may opt to have your Will registered at the Wills Registry set up by the Insolvency Public Trustee Office (IPTO). This is to facilitate relevant persons in locating your Will.
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 here.
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.
Will re-write fees are based on the number of clauses amended.
On top of that, we give a further discount if your Will is in our custody.