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Quick wills

Discussion in 'Legal Issues' started by The Silver Bear, 3rd Dec, 2015.

  1. The Silver Bear

    The Silver Bear Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    47
    Location:
    Sydney
    Hey everyone,

    I am going on a long trip overseas and my wife and I have been slack about making wills, but she is insisting we do something before we leave in 5 days.

    In the long term I want to do something proper through a great professional like Terry but don't have time in the remaining 5 days for that.

    Does anyone have any recommendations or advice surrounding the cheap online providers like:
    How to Write a Will in Australia | Legal123.com.au or My Will Online - Wills for all Australians

    Or can we write a simple letter that will conform and stop https://www.tag.nsw.gov.au getting their hands on it and taking their %?

    We own a PPOR with mortgage and have some bank accounts and a car - not a lot else.

    Thanks in advance
    The Silver Bear
     
  2. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Location:
    Sydney
    Who would you leave things to?

    The intestacy laws may be better than a crappy will.

    Don't forget your super and life insurance.
     
  3. The Silver Bear

    The Silver Bear Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    47
    Location:
    Sydney
    We would leave things to each other, then our 2 young boys aged 7 and 8.
    If it all went to sh*t parents and siblings.

    Am I right in thinking dying intestate means the state would run it under NSW Trustee &Guardian and take 1.1% fee as it's over $300k?

    Thanks for the response Terry. Since I joined Somersoft I have been very impressed with your knowledge and willingness to give advice, and fully intend using your services for structuring investment properties we intend buying next year, as well as to do a proper will as we discussed months ago. It's just been a really tough 9 months for my family and less has been got done that I hoped :-(

    Anything you can/would do for me professionally before we leave next Tuesday? e.g. a placeholder will before we did a full one when we got back.
     
  4. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Dying without a will doesn't mean the NSW trustee and guardian will take control. A family member would have to apply for Administration of the estate and they would do it all. It is only if someone asks the TAG to act that they would get involved.

    I couldn't take your will on atm because of the time limits - your beneficiaries could sue me if I didn't finish in time and they missed out.

    An online precedent may work out better than no will as you can appoint your executors and trustees. Try lawcentral.
     
  5. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

    Joined:
    18th Jun, 2015
    Posts:
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    Location:
    Perth WA
    I'm not sure what others offer but I can do quick wills through my aggregator if you're interested. Obviously I'm not the lawyer behind it, just the form-filler. :) It does get sent through to a proper law firm.
    Others may have similar services available, I'm not sure.
     
  6. The Silver Bear

    The Silver Bear Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    47
    Location:
    Sydney
    Thanks for the offer Jess, much appreciated.
    What are the costs and could you do them by Tuesday?
    I would use the one at Law Central - Will - Married or Defacto with Children but have a SMSF and some overseas assets (shares in a small company) which means I would need to ring them.
    Feel free to PM the answer if you would prefer.

    Thanks Terry for your responses.
     
  7. Paul@PFI

    Paul@PFI Tax Accounting + SMSF Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,400
    Location:
    Sydney
    Guardianship and wills aren't the same but should be considered together.