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How binding is a will made from a will kit?
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27/02/2013, 01:23 PM
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Posts: 52
Joined: 2-September 09
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Oooh will be interested in everyones responses - I have often wondered about this too.
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27/02/2013, 01:49 PM
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Posts: 4,857
Joined: 21-June 04
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"Hello Sweetie"
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Advice I received from a solicitor once was although it's preferable to have a solicitor draw up a will with all the fancy terminology, you can write it yourself on the back on an envelope if you want to. The important things are that you are of sound mind, have witnesses and have given due consideration to the contents.
In saying that, we have had our done by a solicitor as a child, substantial amount of superannuation and property were involved.
I don't see why a will kit wouldn't be fine but I would make sure the original was in a fireproof safe somewhere - another good reason for having a solicitor do it, they have the original, our executors have copies and the solicitor's details.
ETA: considering you have children and will need to consider who takes care of them, I would have a solicitor do it so it's done properly.
This post has been edited by ~shelli~: 27/02/2013, 01:50 PM
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27/02/2013, 01:59 PM
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Posts: 433
Joined: 12-February 08
From: Central Victoria
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I second getting a solicitor to do it. It was not a huge expense, and there is peace of mind knowing that a copy is kept with them. Our solicitor was really helpful and brought up things we hadn't thought of putting in the will. e.g. Donation of organs.
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27/02/2013, 02:03 PM
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Posts: 956
Joined: 13-June 09
From: Canberra
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Þð
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QUOTE (countrymel @ 27/02/2013, 02:54 PM)  If you've filled them in and got them witnessed properly they are fine.
Remember too that the public trustee will do your wills for you at no cost. They take a tiny percentage of the final estate when it is settled (ie: after you are dead) as their payment. We had the PT do our wills - as my dad had with his. THe cost will probably be more in the end, but you don't pay to have the will drawn up and the PT don't take their percentage until everything is sorted out, any assets etc. sold. We also appreciated that we could have Dad's funeral and didn't have to pay until after the house etc. had been sold. The PT paid and then subtracted it from the proceeds later. The part I especially like about using the PT is that they manage the probate etc. after you die so you don't have to rely on whoever you pick (often a family member) to do it. Glad we had 'professionals' to look after that side when my brother and I were so young!
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27/02/2013, 02:09 PM
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Posts: 956
Joined: 13-June 09
From: Canberra
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Þð
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QUOTE (~shelli~ @ 27/02/2013, 03:00 PM)  Get some feedback from people who have used the public trustee before you use them. Just saying that because two families I know who have had to deal with the Brisbane public trustee have ended up in a nightmare of delays, lost forms and unnecessarily dragging out finalisation of the estate. It took a friend of mine nearly two years to have a house title transferred to her name and some money divided three ways after her Dad died. It wasn't complicated but was dragged out and caused them so much stress. This might not be normal but ask around if you are thinking of going that way. Our experience with the NSW PT was that, yes, it took a long time. But there was a private company and shopfront to be dealt with, as well as the house, cars, etc. In all it took about 2 years from when Dad died until everything was settled. This also included selling a rural property, which was on the market for about 6 months. However - I found them very helpful and nothing got lost or seemed to be dragged out un-necessarily. We had the same contact person throughout the whole time, and she was very supportive, expecially of a 21 and 17 year old who had no idea what they were meant to be doing! We weren't any more stressed than we would have been otherwise (if that makes sense - it's a stressful time regardless). That is why I've chosen them for our own wills.
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