Succession Planning – price list
We focus on preparing a comprehensive succession plan that covers assets owned personally and integrating your will with interests you may have in other
structures such as self managed super funds (‘SMSF’), family trusts and private companies. We offer quality advice and service for a competitive cost.
We summarise a guide on our costs below on a typical assignment.
| Strategic meeting and advice | Fee*
|
| Initial meeting to discuss your wishes and preparing written summary of action points arising from this meeting. | $3,000 |
| Personal | Fee* |
| Will — general testamentary trust and superannuation benefits trust | $2,400 |
| Spouse's will — general testamentary trust and superannuation benefits trust | $2,400 |
| Power of attorney to ensure right people control your finances upon loss of capacity. | $440 |
| Power of attorney to ensure right people control your spouse's finances upon loss of capacity. | $440 |
| Power of attorney to ensure right people make your medical decisions upon loss of capacity. | $440 |
| Power of attorney to ensure right people make your spouse's medical decisions upon loss of capacity. | $440 |
| Power of attorney to ensure right people make decisions about your personal care and lifestyle upon loss of capacity. | $440 |
| Power of attorney to ensure right people make decisions about your spouse's personal care and lifestyle upon loss of capacity. | $440 |
| Mutual wills agreement. | $2,500 |
| SMSF | Fee* |
Updating rules that govern SMSF to ensure items such as: (1) there is a proper 'document trail'; (2) individual trustees can nominate successor trustees; (3) clear and express power to make an indefinite binding death benefit nomination; and (4) upon a member's death/loss of capacity, the total of the member's executors/attorneys can exercise the member's rights.
| $550 |
| Binding death benefit nomination. | $550 |
| Binding death benefit nomination for spouse. | $550 |
| Nominating successor trustee. | $550 |
| Nominating successor trustee for spouse. | $275 |
| Incorporating new company to be trustee of SMSF. | $850 |
| Changing trustee of SMSF. | $440 |
| Hardwiring succession directions into the SMSF deed (ie, a death benefit rule). | $2,500 |
| Family Trust | Fee* |
| Nominating successor appointor | $1,100 |
*Any meetings and further attendances not covered above are based on our usual hourly fee rates for each lawyer.
The items above reflect the cost to prepare draft documents once we have clear instructions.
Further, as succession planning requires tailoring for each client’s specific circumstances, we may increase our charges for work that is not within the scope
of our typical assignments.
We provide advance notice if any extra costs are involved. The cost of a power of attorney is applicable if done in conjunction with an estate planning assignment.
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