| How long does it take to finalise my plan? | Typically 14 days to 3+ months | Can be in as little as 1 hour other than for signing your documents | Can be in as little as 1 hour other than for signing your documents |
| How much does it cost? | Anything from $4,000 to $10,000 or more + GST | PaxAnimi® charges from $1,359 + GST (plus an estimated $220 document signing fee) | PaxAnimi® charges from $450 + GST (plus an estimated $110 document signing fee) |
| Is the process simple? | Not always | Yes - the complex made simple | Yes - the complex made simple |
| Is a detailed and lengthy Q&A required to complete the process? | Normally, yes | Not more than 16 questions, some of which include your name and address, the name of your children | Not more than 8 questions, some of which include your name and address, the name of your children |
| Is information required from my accountant to complete the process? | Normally, yes | Not if you fit the profile in the Screening Tool, but it is always best to consult your accountant. | Not if you fit the profile in the Screening Tool, but it is always best to consult your accountant. |
| Is lawyer participation required to complete the documents? | Yes | No, other than for signing the documents, the solution can be lawyerless if you fit the profile in the Screening Tool. It is always best to consult your lawyer. | No, other than for signing the documents, the solution can be lawyerless if you fit the profile in the Screening Tool. It is always best to consult your lawyer. |
| How many times do I need to meet with my lawyer before I can sign my documents? | Often, from 2 to 3 | 0 | 0 |
| How long does it take to get to the signing of the documents? | Normally, anything from 14 days to 3+ months | Can be as little as 1 hour | Can be as little as 1 hour |
| Is my accountant required to participate in the process? | Often, yes | Not if you fit the profile in the Screening Tool. It is always best to consult your accountant | Not if you fit the profile in the Screening Tool. It is always best to consult your accountant |
| Is my financial adviser required to participate in the process? | Often, yes | Not if you fit the profile in the Screening Tool. It is always best to consult your financial adviser | Not if you fit the profile in the Screening Tool. It is always best to consult your financial adviser |
| Are my legal documents and plans easy to read? | Not always | Yes, they are always in plain English | Yes, they are always in plain English |
| What documents are included in the service? | Usually a will, power of attorney and guardianship appointment | Comprehensive will with optional testamentary trusts (that allow for a choice of a flexible and two capital protected trusts), power of attorney, guardianship appointment & an estate planning report about what you have done & why and a complete housekeeping report to tell you how to maximise the outcome from your estate planning | Will, power of attorney and guardianship appointment |
| Is the service just a set of documents? | Sometimes, yes | No, PaxAnimi® offers a holistic process dealing with the 5 stages, 7 rules and 7 risks to estate planning | No, PaxAnimi® offers a holistic process dealing with the 5 stages, 7 rules and 7 risks to estate planning |
| Does the will solution have an option for a contract by which spouses agree not to change their will after the earlier death of 1 of them without the consent of the children? | Not always | Yes | No |
| So that assets can be protected for the children, does the will solution have an option for a contract by which spouses agree to have a pre-nuptial agreement if 1 of them dies and the survivor has a new relationship? | Not always | Yes | No |
| So that assets can be protected against the relationship breakdown, does the will solution give the option for capital protected trusts to help protect against Family Court claims and challenges to the will of a beneficiary? | Not always | Yes | No |
| Does the will solution give the option for flexible testamentary trust outcomes to protect against the bankruptcy of a beneficiary? | Not always | Yes | No |
| Does the will solution give the option for tax effective testamentary trust outcomes? | Not always | Yes | No |
| Does the will solution allow for a delay in the passing of control of a gift if a beneficiary is suffering from a problem with drugs, alcohol, gambling or mental illness? | Not always | Yes | No |
| Does the will solution allow for a legacy for equality between benficiaries to even things up if before you die you have given more to one child than another? | Not always | Yes | No |
| Does the will solution allow for passing control of company and trust wealth, particularly so the majority cannot do the wrong thing by the minority? | Not always | Yes | No |
| Does the will solution allow for the staggering of the time at which control passes to your children and other beneficiaries so they do not get too much too soon? | Not always | Yes | No |
| Does the will solution have a mechanism to help cope with unwanted taxation outcomes where there are non-resident beneficiaries? | Not always | Yes | No |
| Does the will solution allow for the tax effective streaming of income? | Not always | Yes | No |
| Does the will solution specifically permit your surviving spouse to claim all of your superannuation benefits and avoid any claim about a conflict of interest if they are also your executor? | Not always | Yes | No |
| Does the will solution allow for an executor who is your lawyer or accountant to charge for their services in acting as your executor? | Not always | Yes | No |
| Does the will solution protect your executor if your executor inadvertently overlooks the obligation to comply with their prudential investment management obligations under the Trustee Act? | Not always | Yes | Yes |
| Does the will solution give the flexibility for the executor and beneficiaries to effectively redistribute assets fairly if that is going to give a better outcome than what is provided for under the will? | Not always | Yes | No |
| Is the solution offered a long range solution? | Not always | Yes | Yes |
| If I am married and do not yet have children, will the will solution provide for my having children? | Not always | Yes | Yes |
| If I am married and have children, will the will solution provide for my having more children without needing to change my will? | Not always | Yes | Yes |
