Anyone used a will kit?

[OzJavelin]

My Dad is in his late sixties and only advised me a few weeks ago he doesnt have a will. Most of the assets are in his name and I'd thought he'd need at least a simple will kit to transfer them to my mother (mother will need one too I suppose). I'm wondering if it's worth engaging a solicitor for a "simple" will like this and using a will kit from the PO .. or am I under estimating the complexity of the legal system here?

[Tonz]

If theres no other siblings/family that can or might create a ****** stink after the fact then a will kit is fine.
If theres possible trouble brewing (long lost relies/ unknown children etc) then a solicitor

My 2 bobs worth ... email your bank details and I'll take care of it all for you

[The Yeti]

We looked at it a few years back, then out of shear curiosity after my dad suggested it cost stuff all at his solicitor, phoned a local one I had used for a minor matter years earlier solicitor, and for the massive sum of $120 they did the both of them, since then we have had kids so we updated it and that cost a whopping $75.

I think if you have an idea of what you're doing and its relatively simple as tons said a kit will suffice, but I found the solicitor wasn't over the top in cost it was more making time to go in and do it.

[B-1B]

I highly advise that you organize a will. You would be very surprised at how family can turn on each other when there is money involved!

[davenl5l]

solicitor. they are not expensive and give good peace of mind also most provide secure document storage at no extra cost.

[LG17]

I don't know where you are but it's free at the Public Trustee in Qld.

http://www.pt.qld.gov.au/wills/

[Full Noise]

As others have mentioned, they’re not that expensive through a solicitor. I would never go with a “do it yourself” will kit. There’s always pitfalls in those things and I firmly believe in having people draw those things up who are clued up on them.

Even assets that “on the outside” may look fairly straight forward can turn into complex problems if all the t’s aren’t crossed and the i’s dotted.

[Peter B - CV8]

As others have said - use a solicitor. They can also prepare Power of Attorney documents at the same time.

[The Yeti]

Originally Posted by Peter B - CV8

As others have said - use a solicitor. They can also prepare Power of Attorney documents at the same time.

Exactly and from what I understand through doing it for my mother a few years back an enduring power of attorney is the one you need to get

[OzJavelin]

Thanks all .. I'll good them into a solicitor today. I'm more concerned that my Mum gets everything from my Dad if he passes on first.

Lucky they don't have much .. not much to argue about!

[dannyxm]

A will is the most important document you will ever have.

I work as a Solicitor, we charge a whole $110 for a will and it is binding.

Beats a self made will with errors and costing $80k in legal fees when a shark like me rips one apart.

Take it from me mate, where there is a will, there is a relative!

If you don't find a Solicitor you like, ill draft one for you.

Secondly, Public Trustee will give you a will for free, but they will also take out up to 30% of the estate administering it when someone passes away.

[The Yeti]

Originally Posted by danny351

A will is the most important document you will ever have.

I work as a Solicitor, we charge a whole $110 for a will and it is binding.

Beats a self made will with errors and costing $80k in legal fees when a shark like me rips one apart.

Take it from me mate, where there is a will, there is a relative!

If you don't find a Solicitor you like, ill draft one for you.

Secondly, Public Trustee will give you a will for free, but they will also take out up to 30% of the estate administering it when someone passes away.

there you go,

I think a will kits arround $30 so for $80 you get somthing drafted by some one that knows their stuff, sounds like cheap peice of mind to me

[LG17]

Originally Posted by danny351

A will is the most important document you will ever have.

I work as a Solicitor, we charge a whole $110 for a will and it is binding.

Beats a self made will with errors and costing $80k in legal fees when a shark like me rips one apart.

Take it from me mate, where there is a will, there is a relative!

If you don't find a Solicitor you like, ill draft one for you.

Secondly, Public Trustee will give you a will for free, but they will also take out up to 30% of the estate administering it when someone passes away.

From memory, you don't have to use them to administer it though - unless it's all changed.

[cheap]

If you're the only child and there isn't some member of the clan wanting to contest the will, then a simple will kit from the newsagent is fine.

If there is the smallest hint that someone will cause grief, then get a solicitor involved. Also ensue you have "Enduring Power of Attorney".

[mik]

Indeed many pitfalls can be had , get a proper will done by a good solictor with all the paperwork done properly, I had to go though burying a relo a couple of years ago, the solicitor was well versed in law but lacking in the paperwork department, this caused more dramas like you would not believe.
it can be unbeleivable with familys turning on each other, we even had an unknown relative/love child turn up out of the woodwork.

[nuthin' fancy]

Wills are unnecessary as the law sends your assets firstly to your spouse, then your kids, then your parents, then your siblings. If you are happy with this flow, no need to specify anything else. It is only if you want something out of the ordinary (to a charity or cutting out someone in particular) then you need a will to specify it.

You can;t prevent someone challenging your will but by the time they do, it won't be your problem anymore.

State Trustees may offer free wills but they charge like thieves when they manage your estate. They make lawyers (who charge a set % of the value of the estate, negotiate this when they prepare the will) look like good value.

While you ask a trusted friend or family member to act as an executor, it will fall on them if the estate ends up in a dispute.

[cheap]

Originally Posted by nuthin' fancy

Wills are unnecessary as the law sends your assets firstly to your spouse, then your kids, then your parents, then your siblings. If you are happy with this flow, no need to specify anything else. It is only if you want something out of the ordinary (to a charity or cutting out someone in particular) then you need a will to specify it.

You can;t prevent someone challenging your will but by the time they do, it won't be your problem anymore.

State Trustees may offer free wills but they charge like thieves when they manage your estate. They make lawyers (who charge a set % of the value of the estate, negotiate this when they prepare the will) look like good value.

While you ask a trusted friend or family member to act as an executor, it will fall on them if the estate ends up in a dispute.

You are obviously not a lawyer, your advise is borderline negligent.

[nuthin' fancy]

Originally Posted by cheap

You are obviously not a lawyer, your advise is borderline negligent.

On what basis is my advise borderline negligent? It is not intended as professional advice numbnuts, my opinion on an online forum. This is my direct experience as child dudded in a parent's will (the museum in England and the lawyers did well, though).

[dannyxm]

Originally Posted by nuthin' fancy

On what basis is my advise borderline negligent? It is not intended as professional advice numbnuts, my opinion on an online forum. This is my direct experience as child dudded in a parent's will (the museum in England and the lawyers did well, though).

the lawyers did well, though

And this is why you get a will done. It is true that the 'standard line' goes:

partner - kids - grand kids - great grand kids etc etc

But there are so many variables, let alone estate matters being unregulated and before you know it, you spent $50k in legals for each party and the matter still has not gone to hearing.

Us lawyers love estate matters, they take years, cost a lot of money, we get to go hang out at court with all of our other lawyer mates and get paid for it.

Trust me, get a will.

Trust me, im a lawyer

[nuthin' fancy]

Originally Posted by danny351

the lawyers did well, though

And this is why you get a will done. It is true that the 'standard line' goes:

partner - kids - grand kids - great grand kids etc etc

But there are so many variables, let alone estate matters being unregulated and before you know it, you spent $50k in legals for each party and the matter still has not gone to hearing.

Us lawyers love estate matters, they take years, cost a lot of money, we get to go hang out at court with all of our other lawyer mates and get paid for it.

Trust me, get a will.

Trust me, im a lawyer

I assume your claim to be a lawyer is a true one (can't tell if you are serious or not). My experience is that when a lawyer gets involved, the only winner is the lawyer in every circumstance. The whole structure of the legal system is designed by lawyers, costed by lawyers and administered by lawyers. In any other business structure this lack of external, independent review would not be tolerated for a second (except by Eddie McGuire).

The laws around the distribution of assets is clear, if someone wants to contest (and you cannot prevent this), a lawyers picnic it becomes.

When my mother left her estate to a museum in the UK, we had to sue to get money for my disabled sister (she became disabled after my mother's death) and in the end the museum got ⅓, my sister got ⅓ and the lawyers got ⅓ and then had the nerve to tell me what a great result it was.

End rant

[supershifty]

Nothing wrong with using a solicitor - my will is held with mine and is simple. 50/50 split between my two daughters and neither of them get a cracker until they've turned 30yrs - unless they can prove hardship. Cost me about $50.

On the other hand, my Mum went through the public trustee in QLD with her will - no complaints there either, they did an excellent job.

The real cost comes with administering a will - Mum's cost (after death) was $16500 through the public trustee out of an estate of $1 million distributed thru 6 kids.

Don't get me started on bitching about wills!

Cheers!

[BPXR6T]

I bought a will kit but decided to use a solicitor who charged $150 and provides a fire proof safe box for life free of charge. I can put other important stuff like property titles along with a copy of my will in there. I finally convinced my parents to get one done. I have a sister who turns to pure evil over money.

[dannyxm]

Originally Posted by BPXR6T

I bought a will kit but decided to use a solicitor who charged $150 and provides a fire proof safe box for life free of charge. I can put other important stuff like property titles along with a copy of my will in there. I finally convinced my parents to get one done. I have a sister who turns to pure evil over money.

Most firms offer this for free, its just a safe on the premises. Its in our (solicitors) best interest to keep them, as we then know there are no dodgy amendments to the will that will stuff us up lol. In the envelope you can keep other important stuff.

It is also beneficial as if the firm goes bust, the law society in the state will come in and take what is in the safe, again to protect the person and have the original will.

Its a free service yes, but we have a motive!

[MarkAW]

When I set up my will and other docs, the one thing made clear was that the spouse gets everything irrespective of a will.

Depndants must actually be dependant on the departed. For example a son or daughter living elsewhere not relying on the departed for sustenance or housing is not entitled to a single cent. They were not "dependant" on the departed.

Of course the spose may decide to honour the wishes of the departed but that is his/her deciscion.

Basically a will means jack if the spouse is still around.

[Trevor 57]

my 2 bobs worth:

Get it done professionally, there is more to it than what you think, shop around for the best price/service