Lawyers asking $4,300 to create some trust agreement documents, can I write these myself?

Discussion in 'Legal Issues' started by FinnMcCool, 10th May, 2017.

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  1. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    I charge $990 for a loan agreement with legal advice.
     
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  2. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    and without advice its $4,300 to cover the PI ?;)
     
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  3. Bonz

    Bonz Well-Known Member

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    If your quibbling about paying $4.3k for four properly prepared documents, it would be reasonable to suggest that earnings would not be sufficient to warrant a "larger tax strategy".
     
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  4. FinnMcCool

    FinnMcCool Active Member

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    No, this is unrelated :) This is my personal, the other is for a business.

    It's still worth it, but I've already paid over $10k on it, and a wise investor wouldn't shell out another $4.3k if it was something I could do myself (or cheaper). It's not uncommon to see people being charged this type of money for things they can do for 1/4 of the price (if they knew how).

    For example, the loan agreements, I didn't know how much of it is a standard word doc template with different loan amounts and entities filled in vs something bespoke tailored for my needs.

    It's very clear to me now this is not the case and it's the right thing to have it done professionally. Thanks to everyones feedback. I appreciate it :)
     
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  5. .JDM

    .JDM Member

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    Going through a similar process with similar cost figures. Although as suggested, ask for the rate charged and you straight away get directed to discounts 'if we do this and that'. So buying more time and services gets you 'discount'.