You get what you pay for.
Since COVID-19, there has been a heightened awareness about the need for wills. Along with this seems a new flood of players in the will preparation business. There is some serious undercutting of prices that I have seen. I am choosing to not respond by cutting my prices, but rather to continue giving good value and advise in a proper and responsible way.
I am not angered by competition. I will stand behind my work and my abilities. I am angered by the approach taken.
To properly prepare a will, a lawyer needs to meet with a client, review their personal financial situation, have a full understanding of the family dynamics, discuss tax saving options. This simply takes time to do effectively and properly, and time is what the lawyer has to sell.
Preparing a will properly is not just filling in blanks on a template. It is establishing a rapport with the client, understanding what they need, and reviewing documentation with them, and making an estate plan that makes sense for the client’s specific circumstances
There is no possible way that a clients needs are being serviced at cutrate prices.
The old adage you get what you pay for rings true.
I too could prepare a template, fill in 5 blanks and spit out a will. My responsibility to the client does not allow me to do so.
I am keeping my reasonable prices where they are so I can continue to do work for my clients without the necessity of cutting corners, and continuing to give in depth customer service.