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Also you can leave in a safe or solicitor in case you didn't want to know pw till afterwards lock it up family members can sometimes do things that are not appropriate...so to protect yourself buy small safe keep important papers in there disclose in a cealed envelope in the event anything happens give instructions that letter no one has access to it except your solicitors. You protect yourself and put constraints on family members who might be tempted to brake the law.....I have known cases where family members hid the will because they where not named in will.
To stop anyone from challenging the will leave them a small amount like thousand dollars. Also to stop any action if you have timinal illness might be advisable to pass your estate in your last days before you go. To whom you want it to go sometimes wills can be challenged if just cause can be shown....make it air tight...make clause in the event of your death that person has possession of it on that day. Transferred to them on that date. It might sound awful but at least it's in their best interests and yours so it won't be challenged by another family member who thinks they have more rights.
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This is pretty informative, and I'm glad you're starting a helpful discussion about a sensitive topic that not a lot would talk about. Thank you for this, @Babybird!
Now watch sdc start putting ads for will kits in the news letters
Mind you , only need to leave a will if you have something left to give or ppl to give it to, I have neither
Mind you , only need to leave a will if you have something left to give or ppl to give it to, I have neither
Will can be challenged by anyone you have not mentioned in will.
..did u know that? But if you leave them small amount they can't challenge
All important, can l add some extras?
If haven’t already, appoint a Power of Attorney, someone you trust who can manage your affairs in the event that you can’t eg bills need to be paid if you are in hospital and can’t leave (think broken hips, severe illness, unconscious)
And make sure you have an informed Advance Care Directive which spells out how you would like your end of days to be regarding not only treatments or not, resuscitation or not but also do you want a priest, your cat/dog, music, flowers etc.
And with an Advance directive you should also appoint a Medical Treatment Decision maker in the event you are unable to speak for yourself about any medical treatment.
Look these up, there is a booklet, Take Control, that outlines everything. Go well
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Is Betty Owen's American.
I've just gone through dealing with my uncle's Estate and was told the Must do is a will and Testament.
However do not leave it with a Solicitor as they do retire and Move or sadly Die.
If you leave it in a bank safe then the only one who can get it out is an executor.
Best place to leave it is somewhere like Gaurdians it is a small fee they charge after.
Or leave it in a safe place at home and let two people you trust know where it is .
Appoint a person you trust as Executor eg eldest child , sister or friend.
Make sure in your Will you state everything , including what you want at your funeral plus tell this also to a few relatives you trust.
Remember every state has different rules.
Best to talk to someone like Guardian Trustee that's who my uncle was with and they were very helpful, didn't try to sell me anything
I've just gone through dealing with my uncle's Estate and was told the Must do is a will and Testament.
However do not leave it with a Solicitor as they do retire and Move or sadly Die.
If you leave it in a bank safe then the only one who can get it out is an executor.
Best place to leave it is somewhere like Gaurdians it is a small fee they charge after.
Or leave it in a safe place at home and let two people you trust know where it is .
Appoint a person you trust as Executor eg eldest child , sister or friend.
Make sure in your Will you state everything , including what you want at your funeral plus tell this also to a few relatives you trust.
Remember every state has different rules.
Best to talk to someone like Guardian Trustee that's who my uncle was with and they were very helpful, didn't try to sell me anything
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M
Unfortunately folks, this is not so, although it is believed by many.
In all states and territories across Australia the law allows for any "eligible"person to challenge a will if they can establish they have not been adequately provided for.
Just Google the question ( just stating Australia)to make sure you get the law for the appropriate country.
In making my will I was told I must make adequate provision for my eldest son, who is now 52, and is drug addicted. It seems to make no difference that he will probably kill himself, or to the fact I have worked hard all my life and feel I should be able to state where my property should go, and not have it wasted on drugs .
Trying to dispose of it earlier then causes problems with Centrelink.
Can't win.
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M
You do need probate if the person is in Aged Care, they require it for refunding the bond that was paid going in to Aged Care.
Also make sure you appoint an Executor. Needs to be a capable person that you trust will do the right thing in dispersing your estate. Also ask the person (usually a family member) if they are willing to do it. It can be an onerous task if the estate is complicated!
Also make sure you appoint an Executor. Needs to be a capable person that you trust will do the right thing in dispersing your estate. Also ask the person (usually a family member) if they are willing to do it. It can be an onerous task if the estate is complicated!
First and foremost you should start by checking the rules, regulations etc within your own state as each state has different laws regarding Estates (even though we live in one big country). Will documents you can buy at newsagents or find online have a lot of loopholes that may be open to someone to use to contest your Will and they are not as safe as paying a solicitor to prepare it. You cannot successfully word a Will like this without using legal jargon to eliminate errors.
I beg to differ about keeping your ‘original Will’ at home. You should leave your original signed Will with your solicitor as that is the safest place for it, rather than at home. Get a copy for yourself from your Solicitor and keep it in a sealed envelope in a safe place at home, sign over the sealed flap so it cannot be opened without damaging your signature. Advise your Executors where the copy is and who the solicitor is. On the front of the COPY envelope make a note of the Solicitor holding the original with their phone number. This will help your executor/s. The original is the ONLY WILL that will be considered the legal Last Will & Testament and no one can access and use a copy as the last Will of another unless it is the original with original signature.
My understanding is that, should a solicitor die, all documents will be transferred to THE LAW SOCIETY in the particular state. They also hold records of which solicitor holds whose general documents and especially Wills. Keeping your Will at home is not safe - keep a copy, but not the original. I also believe that Probate is something that must be obtained BEFORE distribution of assets in a Will. Once a person dies Enduring Power of Attorney (EPoA) ceases and everything is handled by Executor/s from there on. All banks, insurance companies, share holding companies, utilities companies, CentreLink etc must be notified. I also understand if you are on a pension then CentreLink will pay out only one further fortnight’s money after death to enable immediate & ‘emergency’ payments by the deceased person’s family.
Yes, separate all documents about bank accounts, insurance, shares, utilities etc in a safe and separate box, drawer, filing cabinet within your home, show your Executors where these are, if you can; if you have a safe keep your computer, bank account and other passwords secure in the safe (Will copy also) but please don’t do what some people I know have done (important docs in a safe but safe was just lying loose on the floor somewhere in their house and it was taken away during a robbery with passports and some sentimental and inherited jewellery); please bolt that safe to the floor of your home, not the wall. It can be ripped out of the wall and taken away but not removed if bolted to the floor as the bolt is located inside the safe. We have shown our two Executors where our important documents are (those also include names of your parents, your birth and marriage documents, childrens’ information etc) and this information is required on your death to finalise so many th8ngs.
I’m sorry this has been very lengthy but I’m going through the process of new Wills right now and even though it is costing both of us a few $s to prepare I feel at rest doing it through a solicitor. If you don’t believe what I’ve said here, make a call to a solicitor (a call doesn’t cost anything) and ask. ONE VERY IMPORTANT THING TO REMEMBER - if you do keep the original at home, please do not remove any staple from the document as that is interpreted, legally, as “interference with the Will”.
I beg to differ about keeping your ‘original Will’ at home. You should leave your original signed Will with your solicitor as that is the safest place for it, rather than at home. Get a copy for yourself from your Solicitor and keep it in a sealed envelope in a safe place at home, sign over the sealed flap so it cannot be opened without damaging your signature. Advise your Executors where the copy is and who the solicitor is. On the front of the COPY envelope make a note of the Solicitor holding the original with their phone number. This will help your executor/s. The original is the ONLY WILL that will be considered the legal Last Will & Testament and no one can access and use a copy as the last Will of another unless it is the original with original signature.
My understanding is that, should a solicitor die, all documents will be transferred to THE LAW SOCIETY in the particular state. They also hold records of which solicitor holds whose general documents and especially Wills. Keeping your Will at home is not safe - keep a copy, but not the original. I also believe that Probate is something that must be obtained BEFORE distribution of assets in a Will. Once a person dies Enduring Power of Attorney (EPoA) ceases and everything is handled by Executor/s from there on. All banks, insurance companies, share holding companies, utilities companies, CentreLink etc must be notified. I also understand if you are on a pension then CentreLink will pay out only one further fortnight’s money after death to enable immediate & ‘emergency’ payments by the deceased person’s family.
Yes, separate all documents about bank accounts, insurance, shares, utilities etc in a safe and separate box, drawer, filing cabinet within your home, show your Executors where these are, if you can; if you have a safe keep your computer, bank account and other passwords secure in the safe (Will copy also) but please don’t do what some people I know have done (important docs in a safe but safe was just lying loose on the floor somewhere in their house and it was taken away during a robbery with passports and some sentimental and inherited jewellery); please bolt that safe to the floor of your home, not the wall. It can be ripped out of the wall and taken away but not removed if bolted to the floor as the bolt is located inside the safe. We have shown our two Executors where our important documents are (those also include names of your parents, your birth and marriage documents, childrens’ information etc) and this information is required on your death to finalise so many th8ngs.
I’m sorry this has been very lengthy but I’m going through the process of new Wills right now and even though it is costing both of us a few $s to prepare I feel at rest doing it through a solicitor. If you don’t believe what I’ve said here, make a call to a solicitor (a call doesn’t cost anything) and ask. ONE VERY IMPORTANT THING TO REMEMBER - if you do keep the original at home, please do not remove any staple from the document as that is interpreted, legally, as “interference with the Will”.
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There is also a book you can buy called I think "My Wishes" or something similar - try the newsagents. It sets out all the information you should leave your loved ones. I stated what flowers and music I would like along with all the important stuff like bank, passwords, where funds are keep including the safe combination if you have one. It is a great help and everything is at their fingertips. If you trust your loved ones as I do this makes it simple. This of course is only your wishes so legally look into what you should do. My solicitor told me if I wanted to give something away, do it now, do not wait!!!
Also something I feel I need because of my health are packed hospital bags. I only have a son and he would not know where to find pj's so I keep a winter and a summer bag packed at all times. I unpack the bags once a year and wash everything to be ready for the next year.
Hope this helps as it does for me knowing I do not have to worry if I am off to hospital in a hurry.
Unfortunately leaving a relative a small amount of money (in comparison to large amounts left to others) would not protect your wishes from being challenged in court by a vexatious claimant.
When my Father died my siblings and I had to navigate any number of things such as unknown bank accounts, access to his computer etc. As the days passed and we uncovered more information we collected all the documentation, communication from the various agencies etc and had it all in a box file we named "The Box". Everytime we went anywhere one of us would call out "Who's got the box?" With this in mind, I have my own 'box' with all the current information including access codes, bank details, ITunes account, etc As all my remaining family live in the UK it would be even more of a nightmare for them to sort anything out in a system that is quite different in its requirements than that in the UK.
If you use an online password manager, with most of them you can enter the details of family members you wish to give access to your passwords if you die or are incapacitated. I'm not sure, but you may even be able to put this information in your will.
This why so crucial to leave precise and clear instructions in a folder marked important with will, bank accounts, asserts instructions etc...so this does not happen..
I urg each of you sit for half hour a day or week gather all of this together, leave solicitor or in your safe leave pw in envelope with your solicitors just incase something happens it's better to be prepared
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