Free Wills Are Not Really Free - Who Ends Up Paying the Price?

Over the last few weeks, there has been a noticeable media push from “free Will” providers. Having worked in the web industry for over two decades, I am reminded of an old saying:

If you are not paying for something, you are probably the product.

We all know this through social media. The platforms are free for users, but users are not the real clients. Instead, their attention, preferences, and data are packaged and sold to advertisers.

Now, let us look at “free Wills” through the same lens.

When you or your client completes a free Will, it is safe to assume that the client is the product.

The Evolution of Free Wills

Ten years ago, online free Wills were mostly lead generation tools for legal firms. They were a way to give something basic back to the community while creating opportunities to up-sell clients to full estate planning services.

Over the last five years, however, the landscape has changed. New, aggressive players have entered the market, many backed by venture capital. Their business models follow a familiar internet pattern:

• Provide a service that used to cost real money for free (or close to it).

• Shift the revenue source elsewhere or defer it into the future.

Take Gmail as an example. Originally a side project at Google, it was rolled out free to users. But the real value for Google was not in email—it was in advertising revenue generated from aggregated user data. Gmail gave Google deeper control over users who already relied on its search engine.

“Human Futures” – The Revenue Models Behind Free Wills

For free Will providers, the revenue usually comes from two main sources:

1. Charity referrals. Many providers are linked with not-for-profits, who in effect fund the free Wills. The hope is that clients Will nominate the charity as a beneficiary of their estate. While this can be a noble cause, it creates an inherent conflict of interest: the organisation that helped pay for the Will becomes a direct beneficiary of the estate.

2. Executor or administrator appointments. Some providers nominate themselves as the default executor. While this is not new—state trustees and post office wills have done this before—the new entrants are more aggressive. Their model is built on capturing this future revenue. Consider the average capital city home. A 2–3% executor fee could mean a $30,000–$45,000 bill for beneficiaries. Suddenly, that “cheap” estate plan looks very expensive.

What Advisers Should Ask

If a client says they already have a free will, ask:

• Who paid for the will?

• Who is named as the administrator or executor?

• What will the cost be to their loved ones in the future?

• Are non-estate assets covered? (Super, Trusts, Companies, Unit trust)

Estate planning is about ensuring things are in order for beneficiaries. It is about maximising wealth transfer to families and not shifting it to third parties or hidden costs.

The Adviser’s Role

We often discuss the impact of cheap will providers on clients, but advisers also need to consider the reputational risk of referring clients to these services.

Cheap online wills and post office wills may look convenient and cost-effective. But they rarely address complex estate planning needs, particularly for blended families or non-estate assets. Many families are left facing unnecessary costs and ineffective solutions.

Advisers have a responsibility to ensure estate plans reflect the client’s unique circumstances and provide long-term protection for their families. That is how trust is built, and real value delivered, across generations.

What We Do at Inherit Australia

At Inherit, we take a very different approach.

We provide a transparent process backed by real local lawyers in every state of Australia. Transparency is built into every stage from the first conversation through to the final signed documents.

Yes, it is a fee for service model. But it is crystal clear what clients are paying for. The lawyer’s side even shows a minute-by-minute cost breakdown, so there is no confusion or hidden charges.

Advisers also play an active role in the process, contributing from both a financial perspective and a project management standpoint. This ensures the client receives a plan that is not only legally sound but also integrated with their broader financial strategy.