Make a will

The phrase in the legislation is 'adequate provision'

 

Is there a requirement for a lawyer (to write Will, testamentary trust & Setup POA) to be in the same state where one resides or any interstate lawyer is fine as long as they are registered and have their presence in Australia?

 

no. They can be anywhere

 

I'm also looking for a will writer for my tiny portfolio...
Main consideration to raise to court for probate - its a foreign ownership - taxes involved.
100% ownership to beneficiary - less complication. Trust can be employed.
Need a executor in Oz?
Any reoommendation?

 

If you have foreign assets you might be better off with a will in the jurisdiction where they are. Possibly 2 wills are needed, one for here and one for there.

 

Would you be able to mention the industry super fund name?

 

These days with zoom you can be physically present and can even exchange signed forms through email for the witnesses actions to be completed. A temporary law was made to allow greater electrcic signing but it was repealled aftre the first lockdown. It didnt address deeds

 

If you arent a member it wouldnt matter. Its a concessional fee arrangement may funds have. Ask your fund if they have such a offer.

 

What if you have considerable assetts all over the world? A will for every jurisdiction ??

 

It will depend where the assets are and what they are. Most countries won't recognise our wills.

 

Do you have clients with multiple wills all over the world?

 

Not to my knowledge.

 

Note that EU regulation allows EU residents to choose which country law applies according to their nationality. So it's quite possible (even desirable) that a dual national like myself, currently living in the EU, would choose to have Australian law apply to my inheritance. You need to have a clause in your will that explicitly states which country laws should apply.

Planning your cross-border inheritance in the EU - Your Europe

 

What are the countries that do recognise our wills?

 

I don't know for sure but the Commonwealth countries will generally.

 

https://www.legalessentials.com.au/...tralian Wills,Kingdom, New Zealand and Canada.

Well, it certainly looks that way after a bit of a read.

 

International estate planning is very complex and it becomes extremely complex when the tax side is added it. I just refuse to advise on it myself as too many traps.

Some countries don't recognise defactos or same sex marriage. Some have forced heirship - laws override wills. Some treat residency differently to other countries, some tax the main residences etc.

 

Super is a major asset of a deceased person yet some other countries dont recognise super as a seperate trust etc. Certainly not the concessional vehicle we know. The usa for example may assess a member on the earnings...not tax free after age 60. A death benefit can have all sorts of consequences and be assessable to a beneficiary. Us law for example considers it a trust distribution. Uk law doesnt but part can be taxable