CBC’s Marketplace recently featured a special – trying to find the most shocking fees charged by lawyers in Canada.
The banks and airlines featured prevalently in the discussion, but so did lawyers. People seemed to be incensed by the nickel-and-diming billing practices and when it came to voting for the 5 most egregious fees, one particular lawyer was included.
One of the most ridiculous submissions takes nickel-and-diming to a new level. One man complained of being charged precise amounts for every office supply his lawyer used.
“[I was] charged separately for staples ($0.07 each) and paperclips ($0.12 each) on my legal bill for doing up a will.”
It’s important to read this carefully. The lawyer wasn’t charging for the staples and paperclips in the Will, no, they were charging for the staples and paperclips used on the bill that was prepared for creating the Will !!
Having watched families fight over the estate and end up not speaking to each other for the rest of their lives, I can tell you first hand that leaving this world without making a plan for what’s in your estate is one of the worst thing you could do for your loved ones.
Over the Thanksgiving weekend, the CBC led their business section with an article on writing a Canadian Last Will and Testament and suggested that you should discuss with your children exactly how you were planning to divide your estate.
There were some great comments on the article from people who were living the nightmare of administering an estate, some estates had a Will involved and some didn’t. Problems arose with children fighting over particular bequests, Executors were not following the legal procedures, aged parents were being forced to change their Wills in the advanced years. What struck me though was the level of misunderstanding of estate planning law from the general public. In a total of 200 comments, I have picked out 10 terrible misconceptions that people have taken the time to submit in response to the article. The lesson here is do not take legal advice from a comment forum. Continue reading