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Old 27-01-2020, 01:34 PM   #1
Jack91
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Default Whats the deal with wills?

Hi all,
Had a major whoopsie at work last week, got me thinking about how im nearly 30 and got house, cars and stuff and no will.
Really messy family, want it all to go to my partner of 6+years but we arent married. I can see it being contested by my family but im adamant they get 0.

Do i have to pay for a solicitor or will an online one that i print out be ok?

Also, should i name a power of attorney? I cant imagine my partner would make smart decisions in selling my stuff if i died.

Experiences?

Nb:never married, no kids
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Old 27-01-2020, 02:19 PM   #2
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Default Re: Whats the deal with wills?

I went through a very messy process recently after my Father passed, he had a will made through his solicitor which gave un equal shares of his estate to each of his 7 children a grandson and a few friends and charities.
Unless you are worth a lot of money or those intending to contest have money to burn and spite as the driving motivator, it is very costly and rarely successful to contest a will.
Personally i'd be talking to a solicitor and crossing every T and dotting every i to ensure your wishes are respected for peace of mind.
Thats not to say that a 'do it yourself' kit is less guaranteed, but for the cost of having it done professionally i'd be heading down that path where the possibility of conflict could be expected.
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Old 27-01-2020, 02:22 PM   #3
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Default Re: Whats the deal with wills?

I think in your case your partner already stands a good chance of claim after 6 + years.
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Old 27-01-2020, 03:25 PM   #4
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Default Re: Whats the deal with wills?

Good advice here: https://www.legalaid.vic.gov.au/find...rces/your-will
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Old 27-01-2020, 03:36 PM   #5
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Default Re: Whats the deal with wills?

Get it sorted out, we had a family member die interstate and the others try cover it up by transporting dead family memeber back to VIC, holding funeral and burying said family member without us knowing because they thought we were cut out of the will so we couldn't contest it within the timeframe.

Turns out we still were and we found out they died by a letter in the mail saying her estate was being processed
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Old 27-01-2020, 03:46 PM   #6
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Default Re: Whats the deal with wills?

Even if you don’t want family to have anything, leave them something, something minor even, it stops them claiming they have been mistakenly overlooked and contesting it
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Old 27-01-2020, 06:13 PM   #7
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Default Re: Whats the deal with wills?

some people do it tough, Dad passed away last Oct in NZ I was there shortly before and stayed on, it was a grand time, he knew he was going and we all joked and laughed. He told us when altogether what each was getting (equal amount between 4 boys). Alll happy no arguments.
After the event, we all met at his unit, sorted through his stuff, (99.5 years age, 8 suits, 45 short sleeve shirts, lost track of trousers, etc etc) then it was who wants this??? ok recycle.
was a very happy time, felt really good having such great family members.
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Old 27-01-2020, 07:18 PM   #8
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Default Re: Whats the deal with wills?

Get quotes. I've had solicitors up here in qld do me a simple will for under $100.

Power of attorney is for people still living. You may be talking about an executor. You need to find someone to trust who will give all proceeds to your spouse. It would be easier and safer to make a simple will leaving everything to them and writing a clear letter of instructions for your spouse to follow, eg get joe blogs to sell my stuff and give you the money. Or list of my stuff prices for each item...something like that. Then there is no legal issues. Spouse gets everything instructions (should) get followed.

I have a simple will that leaves everything to my ex. She knows what I want her to do with it, most proceeds go to my nieces and nephews. Simplez....
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Old 27-01-2020, 07:53 PM   #9
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Default Re: Whats the deal with wills?

Thanks blokes. Ive had a look at the link above but it still basically says get a professional to do it.


What happens with a mortgage? Someone told me ages ago that the mortgage insurance pays it out but that doesnt seem right.
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Old 27-01-2020, 08:00 PM   #10
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Default Re: Whats the deal with wills?

Quote:
Originally Posted by ratter View Post
Even if you don’t want family to have anything, leave them something, something minor even, it stops them claiming they have been mistakenly overlooked and contesting it
err, no
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Old 27-01-2020, 08:41 PM   #11
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Default Re: Whats the deal with wills?

Quote:
Originally Posted by Jack91 View Post
Hi all,
Had a major whoopsie at work last week, got me thinking about how im nearly 30 and got house, cars and stuff and no will.
Really messy family, want it all to go to my partner of 6+years but we arent married. I can see it being contested by my family but im adamant they get 0.

Do i have to pay for a solicitor or will an online one that i print out be ok?

Also, should i name a power of attorney? I cant imagine my partner would make smart decisions in selling my stuff if i died.

Experiences?

Nb:never married, no kids
The term you're looking for is "executor". And yes, your will must have one.
They are, for want of a better explanation, the administrator of your will. They will do the necessary paperwork, dispose of any assets required, and makes dispersements.

Since it sounds like what you are proposing is straight forward, a dowloaded version or "diy kit" should suffice. Subject to the following:

Pick yourself an executor and get their consent (not necessary but advisable). Ideally you need a mutual friend, somebody who is smart and good with paperwork.
Get the will witnessed. You don't have to, but again it is advisable to shown and explain to them the contents of the will. They could be called upon to not only verify their signatures, but also your intentions.
Your executor can have an interest, so using a mutual friend or even your partner's relative is permissible.
Witnesses can not. They must be a independent as possible.

Do NOT get SCAMMED into any of the offers to prepare your will for free (or even cheaply) on the proviso that they act as executors. My naive BIL did that, and most of his estate went to pay the lawyers.

Keep it SIMPLE. "I bequeath all my assets, goods, chattels, personal effects, rights and entitlements, to Ms Sarah Jane Smith, dob 1/1/1970, currently of 1 penny lane, etc."

The BIGGEST mistake people make in writing their own, is complicating it. Especially by listing assets. This can cause the will to be compromised, and can lead to its whole validity being challenged. The number one mistake is listing joint assets that pass by survivorship.

And please, ignore every stupid scene you have ever seen in a movie. Trying to leave your bug collection to cousin Frank, or your playboy collection to your brother, can literally open up Pandora's Box.
(If you do have any bizarre wishes like that, put it in a letter to your Partner, and ask her to gift them.)

If your will is going to be anything more than that simple, pay a lawyer to draft it, but keep your executor, and don't allow the lawyer to even hold the will.

Now, having said all that, one thing you might want to consider is the possibility of what happens when the old franger breaks.
Cos when that happens, dollars to doughnuts, you'll want at least some of the money held in trust for Jack Junior.
This possibly can easily be anticipated in a will, but its a job for a professional.
NB: My Brother died while his bun was still in the oven, and without re-writing his will. His life insurance went to his window, who being rather naive and easily led, invested it all in a property for her parents to live on. His child never saw a cent.
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Old 27-01-2020, 08:48 PM   #12
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Default Re: Whats the deal with wills?

Generally speaking .... wills can be contested by estranged family members, but ... The legal advice i received applying to Qld was that it quite defensible to write out parents or siblings if you choose to do so.

It is more difficult to deny surviving children a share, but that isnt the issue in this instance. Defacto relationships ... well after six years together i imagine that would likely be treated like a marriage.

For peace of mind get some advice and get a will drawn up. Its worth doing.
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Old 27-01-2020, 08:55 PM   #13
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Default Re: Whats the deal with wills?

Quote:
Originally Posted by Jack91 View Post
Thanks blokes. Ive had a look at the link above but it still basically says get a professional to do it.

What happens with a mortgage? Someone told me ages ago that the mortgage insurance pays it out but that doesnt seem right.
Nice summary...
https://www.finder.com.au/what-happe...-loan-if-i-die

Key takeaway:

Most commonly, a home loan is cosigned with a spouse or partner. If this is the case, the co-borrower automatically assumes the mortgage – and is responsible for the debt remaining.

Lenders mortgage insurance covers the lender, not the borrower. There are products available for the borrower (or the estate thereof), but it rapidly becomes a specialists field if your affairs are in any way complex, such as investment properties, a family trust etc.

Perhaps a review of your life insurance coverage is in order....?
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Old 27-01-2020, 09:04 PM   #14
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Default Re: Whats the deal with wills?


His life insurance went to his window, who being rather naive and easily led, invested it all in a property for her parents to live on. His child never saw a cent.


Probably not uncommon. Many years ago the Father-in-laws widowed father remarried a year later without updating his will. Then he carked it. Since marriage invalidates existing wills, the recent bride got everything and the deceaseds biological children got zilch.
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Old 27-01-2020, 09:17 PM   #15
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Default Re: Whats the deal with wills?

Quote:
Originally Posted by Crazy Dazz View Post
err, no
Ok, I guess it didn’t happen then 😉
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Old 27-01-2020, 11:47 PM   #16
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Default Re: Whats the deal with wills?

Good advice blokes.
As for the potential of kids, its exactly 0%.
Yes the word i was looking for is executor. Thanks for clearing that up.
I have a damaged wheel off the 888 ba signed by CL and JW. That is literally the only thing I've got to name to someone else.
The house is in my name though, i bought it. Hows it go if i left it to her and she couldn't get a new mortgage to finish paying for it? Forgetting all the other money she would have coming her way..
I think i might do a ring around and go see someone, ive got a lot of questions
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Old 28-01-2020, 12:18 AM   #17
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Default Re: Whats the deal with wills?

It's also a Good Idea to give someone (your Partner??) "Enduring Power of Attorney" This is for ; if (for example) You're in an Accident end up in a Coma for 12 Months & are unable to manage your Affairs.
If you Don't give someone "power of Attorney" the Public Trustee becomes involved. The few Times I've seen the Public Trustee involved,They have ALL ended in Tears..
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Old 28-01-2020, 06:43 PM   #18
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Default Re: Whats the deal with wills?

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The house is in my name though, i bought it. Hows it go if i left it to her and she couldn't get a new mortgage to finish paying for it? Forgetting all the other money she would have coming her way..
I think i might do a ring around and go see someone, ive got a lot of questions
From the finder article link:


If you are the sole borrower on your property and you pass away, the responsibility for your debt goes to the person you name as the beneficiary. In the event of your death, the bank has the right to request the payment of the loan in full from this beneficiary. Ideally, you will have enough assets to pay off the home so they can inherit it in full. Alternatively, there could be enough equity in the property that it can be sold to pay off the loan with extra left over for the beneficiary.

If there isn’t enough equity or assets, however, it can become a big problem for the beneficiary. According to solicitor, Rod Cunich of Slater Gordon, mortgages have an all money cause. “You can sell the house to try and pay it off but if there is a short fall, your bank has the right to sue you and take your other assets to make up the difference,” he explains.
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Old 28-01-2020, 07:05 PM   #19
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Default Re: Whats the deal with wills?

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Even if you don’t want family to have anything, leave them something, something minor even, it stops them claiming they have been mistakenly overlooked and contesting it
Exactly.

At one of my jobs I help out a dear old man. This guy is worth millions.

He often asks me to print stuff out for him in my office, one such item was his will.

Some family members got $88.

No, not kidding. But perhaps it was so that they can't claim he 'forgot' about them.

Spend some money and make sure you do it right. It won't cost the earth and it will ensure that there is less issues.
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Old 28-01-2020, 07:48 PM   #20
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Default Re: Whats the deal with wills?

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Exactly.

At one of my jobs I help out a dear old man. This guy is worth millions.

He often asks me to print stuff out for him in my office, one such item was his will.

Some family members got $88.

No, not kidding. But perhaps it was so that they can't claim he 'forgot' about them.

Spend some money and make sure you do it right. It won't cost the earth and it will ensure that there is less issues.
I’m no expert but I don’t think you need to hand out paltry amounts to avoid a contest.
My aunt lived (sponged) off my nanna for 20 years but was her “carer”. She thought that entitled her to the whole house to the exclusion of the other 4 siblings.
The old dear was pretty cluey, she specified the assets were to be split equally among the 5 kids, and named the carer daughter that she was not to contest for more than her percentage. You can also name other people who you do not want to leave anything to (exes, etc).

Public trustee has mine, and their questions were eye opening, very thorough:
I want all my assets to go to my daughter.
What about if she’s married?
If she dies, do you want your assets going to her partner?
What if she has kids?
What if you have more kids?
Step kids?
New partner?
FUUUUUU

Never thought of any of this, that’s why you go to a professional.
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Old 28-04-2020, 09:33 PM   #21
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Default Re: Whats the deal with wills?

Just saw this one.

Rule #1: it is your money, you can do what you want with it. Anyone can contest a will. Generally, if you would be reasonably expected to provide for someone and you don't, they can contest. This could include your dud brother who you were always bailing out. Patterns of assistance create evidence of need.

If you die without a will, your estate goes in this order, spouse, if none, kids, if none parents, if none. siblings. If you want to change this progression, make a will.

You cannot prevent someone from contesting, but it won't be your issue, will it?

If you are worried, try to give stuff with a warm hand.
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Old 28-04-2020, 09:51 PM   #22
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Default Re: Whats the deal with wills?

Quote:
Originally Posted by Jack91 View Post
Hi all,
Had a major whoopsie at work last week, got me thinking about how im nearly 30 and got house, cars and stuff and no will.
Really messy family, want it all to go to my partner of 6+years but we arent married. I can see it being contested by my family but im adamant they get 0.

Do i have to pay for a solicitor or will an online one that i print out be ok?

Also, should i name a power of attorney? I cant imagine my partner would make smart decisions in selling my stuff if i died.

Experiences?

Nb:never married, no kids

Get your will sorted out between you and your partner and make sure you also do a power of attorney or enduring power of attorney, this should make life easy for you or your partner.
As stated any will can be contested but at least most of your assists should go to who you choose.
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Old 28-04-2020, 09:56 PM   #23
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Default Re: Whats the deal with wills?

My experience with wills... my neighbour was estranged from his daughters after his divorce, he seemed to respect me, and asked if I would be executor for his will. Then the bugger went and died on me.

Once he died, I met his daughters, and they were both lovely, and damaged ladies. He left his estate to Guide Dogs Queensland, and they contested it. I had to sell all his belongings - furniture, garage contents, shed contents, then give advise to his nominated solicitor as to how to proceed.

His superannuation had the option of being divided amongst his family members, or being included in his estate. I asked his daughters for their preference, and they said to include it in the estate.

Then the Guide Dogs decided to involve their lawyers, and I received a letter that the daughters had withdrawn their appeal, with the condition that I didn't contact them about it.

It was really strange... haven't spoken to them since, and the Guide Dogs reaped nearly a million.

One positive for me though, I got stuck with his small dog, who didn't get on with my large dogs, and his eldest daughter took him in, and loves him.
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Old 29-04-2020, 01:10 AM   #24
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Default Re: Whats the deal with wills?

just dealing with a will at the moment and found out some interesting detail:
Don't staple the pages of a will together, leave them loose.
If you do and later take it apart to say do copies, then restaple it or leave it loose, you may have to do a stat dec to explain the holes in the pages.
Solicitor also told me of an old bloke who had bought in the original will of someone who'd died. He had highlighted sections and also crossed out bits that involved a beneficiary who'd already died.
Both things caused all sorts of legal issues.

We had a bad experience with a previous solicitor who'd drawn up our family members will. It was poorly written and caused issues.
In saying that I'd still recommend using a solicitor to draw one up but make sure it is clear and concise. Don't mention a specific address for a home as that may change later.

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Old 29-04-2020, 10:13 PM   #25
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Default Re: Whats the deal with wills?

Why not get married and make your will almost impossible to contest???
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