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Wanting advice on drawing up a will


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#1 Winning

Posted 12 December 2012 - 11:12 PM

Hi,

I am recently married, no children (currently TTC). I don't own a house or have any major financial assets however I would like to draw up a will that states that my DH gets pretty much everything (including super and so forth). (I would like other family members to get certain things but this is more sentimental value rather than financial).

I just want this to be covered and my intentions to be clear should anything unfortunate happen.

I figure that with home ownership/children (hopefully) on the horizon, I will certainly have to look at my situation and it would probably be best at that point to seek proper legal advice. However, I think it would be wise to ensure that I have this covered in the interim. Has anyone used a DIY will kit like Australian Will Kit and care to share their advice? If it was easy to use, if they thought it covered everything? If it is legally binding?

Or am I best to fork out the money now and see a solicitor? Is this going to cost me an arm and a leg?

Any info would be greatly appreciated. (Except please don't tell me I am silly for not already having one!)


Thanks!

#2 Copacetic

Posted 12 December 2012 - 11:27 PM

Getting a basic will drawn up by a solicitor probably won't cost you too much money (around $400).

#3 ~ppp~

Posted 12 December 2012 - 11:33 PM

We have written $3 will packs bought at the news agency. Don't know how they would stand legally but in our situation it is all very clear what would happen and there is very little that would be disputed even without a will so its really just to give clear guidance for our families.

#4 poss71

Posted 12 December 2012 - 11:48 PM

QUOTE (knowsnotmuch @ 13/12/2012, 12:33 AM) <{POST_SNAPBACK}>
We have written $3 will packs bought at the news agency. Don't know how they would stand legally but in our situation it is all very clear what would happen and there is very little that would be disputed even without a will so its really just to give clear guidance for our families.

My bold. Oh dear. In your case, PP, I'm wondering why you even spent $6, if it might not 'stand legally'.

So many things can go wrong with post office Wills...

If a solicitor draws up your Will (a good one, not just the bloke down the road), it can cover you now as well as when you have children and hold assets such as a house.

I recommend you see a solicitor, OP. A few hundred now can save your family members tens of thousands in legal fees in the event of a dispute, not to mention other things like CGT implications, super, impact of a gift on a beneficiary's pension...

Super is not an asset of your estate.

I'm rambling and a little disjointed in my reply at this time of night, but please forgive me. I've been preparing and witnessing Wills and Enduring Powers of Attorney for the last fortnight and this is set to continue until last thing next Thursday. Yes, I'm a solicitor in Wills and Estates: trust me, things can go very pear-shaped, even with the best of intentions, if your Will and estate planning is not well thought out.

#5 casime

Posted 12 December 2012 - 11:52 PM

I've done the newsagency will kits in the past, before I had DS and had little assets or responsibilities.  Now that I have had my son, I've realised how vital it is to make sure that everything is in order and have had a solicitor draw up a will for me.  It cost me about $1200, but that included all of the documentation for trust accounts if I were to die, because I am a single parent and need to make sure that my property and savings is used to provide for DS if I died.  





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