Wills - Recommendations on who can set one up for me

[neK]

Looking for recommendations on who I can speak to regarding setting up a will.

Also, looking at NSW intestacy rules, my assets pass to my spouse and vice versa.

Realistically that's all im after, so it appears that if don't have a will, its not so bad (sure it would be nice to have a testamentary trust setup, but im talking worse case scenario).

 

[devank]

Why take risk? visit Terry_w even though it would cost a little more than DIY ones.

 

[Terry_w]

Looking for recommendations on who I can speak to regarding setting up a will.

Also, looking at NSW intestacy rules, my assets pass to my spouse and vice versa.

Realistically that's all im after, so it appears that if don't have a will, its not so bad (sure it would be nice to have a testamentary trust setup, but im talking worse case scenario).

What if you both die together?
What if you die and the spouse dies 1 hour later? Your spouse inherits and then leave all your assets to the RSCPA sort of thing.

Who can challenge the intestacy division.

Any children from a different relationship?

What about super?

etc

 

[macca446]

Hi All,
Sorry to hijack the thread but I throughout my life always have had all the necessary things in place but I must say I have always thought of doing a will but never acted on it,finding someone that I know will do job well and structure it correctly is probably my main concern I really have to do it but lack the knowledge of getting it done so my wishes are adhered to .
Macca446

 

[nhg]

Use Terry. He asks the right questions. Haha sometimes too many but he really fleshes out all the options.

 

[macca446]

Use Terry. He asks the right questions. Haha sometimes too many but he really fleshes out all the options.

Yes thx I was going to pm him.
Cheers

 

[lawmich]

Get your will sorted out as soon as possible. Can't stress that enough.

 

[zimby]

Can Wills be done by interstate Solicitors?

 

[Terry_w]

Can Wills be done by interstate Solicitors?

Yes they can.

 

[DaveM]

Just be careful of using an intestate solicitor, its a case of not practicing what they preach.

 

[Terry_w]

Just be careful of using an intestate solicitor, its a case of not practicing what they preach.

same could be said of a solicitor in the same state?

 

[Rixter]

We use Warren Black who owns Wealth Safe & is a SS forumite for our Bloodline Trust Wills.

He specialises in the topic & performs seminars across the country.

 

[Scott No Mates]

Just be careful of using an intestate solicitor, its a case of not practicing what they preach.

You beat me to it

Terry, they could be border line.

 

[Tyla]

Sorry to hijack the thread, but I thought the questions may be relevant for the OP too.

Executor is a significant part of a Will. What are pros and cons of appointing executor out of the following options
- 2-3 individuals in order (A then B then C)
- entity such as NSW Trustee and Guardian
- paired individuals (A&B then C&D). Can you pair "NSW Trustee and Guardian" with individuals too? Would it be advisable?

If beneficiaries include non-Australian relatives, how can it be done and what are the tax implications in Australia?

 

[stumpie]

Use Terry. He asks the right questions. Haha sometimes too many but he really fleshes out all the options.

+1 I recommend Terry W he's da man to talk to.

 

[Terry_w]

Sorry to hijack the thread, but I thought the questions may be relevant for the OP too.

Executor is a significant part of a Will. What are pros and cons of appointing executor out of the following options
- 2-3 individuals in order (A then B then C)
- entity such as NSW Trustee and Guardian
- paired individuals (A&B then C&D). Can you pair "NSW Trustee and Guardian" with individuals too? Would it be advisable?

If beneficiaries include non-Australian relatives, how can it be done and what are the tax implications in Australia?

you shoud have back ups because:
1. the executor may die before you
2. the executor may refuse the job (i have seen someone promise only to chicken out a few months later when the person died)
3. the executor may go insane, bankrupt or senile etc = lose legal capacity.

having a professional trustee take the role can avoid these problems, but there is a fee for this - which is not so cheap and the family loses control to a certain extent - timing of sales, how to sell, investing etc. Executor does have some discretion.

You could appoint a professional company and an individual - but why. they would need to have meetings and the trustee company would be charging by hte hour for this stuff. it might cost $400 to change a lightbulb on an ivnestment property for example - that is just the meeting to discuss it + electrician.

 

[Pandabites]

Hi Terry...tried to PM you as I'd also like help setting up a will, but was advised that you don't receive private messages.

 

[Terry_w]

Hi Terry...tried to PM you as I'd also like help setting up a will, but was advised that you don't receive private messages.

I'm over the limit as I get too many PMs. Could you please email me instead thanks.