The term “common sense” is common in determining legal jurisdiction. This means that the person is able to understand the document they are signing. And it also doesn`t close the puzzle piece regarding your retirement pension and any life insurance you might have in Super. And for many people, it`s a big part of their wealth. So I`m not an advocate of post-wills. I think they are more difficult than they are worth it. I think they are lulling you into a false sense of security. Make sure your estate planning is correct with a specialist who can guide you through any issues. And when you do that, it should almost be settled and forgotten. You should be able to find a strategy that you can review regularly, perhaps annually, by tinkering on the edges, but it will largely work for you and produce the right results for your loved ones in the long run.
Thank you for watching. Once you have signed your will with Lynn & Brown Lawyers, we offer to keep your will in our secure warehouse. This means you never have to worry about losing or damaging your will. We will write to your executors and inform them that we are keeping your original will and that if you die, they will need to come to our office with your death certificate so that we can release the will for them. Anyone can set up as a copywriter, so always check their references and experiences to make sure they are a member of the Society of Will Writers or the Institute of Professional Will Writers. Members of these professional organizations must have up-to-date training, take out insurance to cover legal fees if the will is contested, and follow a code of conduct approved by the Trading Standards Institute. It`s easy and cheap to get a “testamentary package” from a local stationery retailer or post office that allows you to write your own will. These are suitable only in the simplest cases, where no property is owned and there are no beneficiaries under the age of 18. Even in this case, the slightest error or misunderstanding in the use of legal terms can lead to litigation or the nullity of the will. You may think your homemade will is clear, but you won`t be there to clear up misunderstandings or disputes between family members when the time comes. New Jersey accepts handwritten wills, whether attested or not, provided it can be clearly demonstrated that the document must be the will of the deceased. The document must also be clearly identifiable as it is written in the hand of the deceased.
The recent decision of the Supreme Court of Queensland in the will of Ethel Florence Panigas (deceased); In the will of John William Panigas (deceased) [2013], QSC 172 is a perfect example. In this case, a husband and wife had both made wills with post office testamentary kits. The Court refused to recognize these documents as valid wills. Too often, poorly drafted wills are deemed invalid and ignored or, at best, ineffective. This can result in the estate being treated as if you had died without a will, that is, without a will. According to the laws of intestate, your assets are distributed according to a legal framework that leaves the succession of a person in a fixed order to his closest relative. So, while a post office will is a very inexpensive and effective way to create an estate plan immediately, it can often be very expensive and time-consuming for your family and loved ones to have to plead in court due to uncertainties in the post office process. So often you save money upfront, but it will cost a fortune and add a huge amount of stress and undermine the value of your inheritance if it`s not done right and they all end up in court after your death. And the other thing to remember is that a will is only one part of the estate planning puzzle. The post office will not give you any power of attorney. So these are the documents that apply when you`re still alive, but when you lose the ability to make decisions for yourself and appoint people on your financial, personal, and lifestyle matters.
Authors often buy their “franchise kits” and without depth of study/understanding can give very bad advice. After my death a few years ago, I had to correct an attempt by a grossly incompetent will-writing firm to create a tax-efficient will that completely missed the point due to a limited understanding of the relevant tax principles. Destroying the irritation, burning, shredding or destruction of a will makes it null and void, according to the law firm Barrera Sanchez & Associates. . The testator must also destroy all physical copies of the will in order to prevent a duplicate from being presented to the Pro estate court after his death. Renee Ransom is a paralegal at Lynn & Brown Lawyers. She works with the wills & Estates team and is currently completing an online Bachelor of Laws at Charles Darwin University. Steven is a lawyer and director in Perth and has over 20 years of experience in legal and commercial law, dispute resolution and estate planning. Theoretically, you could write a will on a towel. All it takes to be legally binding is to be properly signed by you and two adult witnesses.
Of course, that doesn`t mean it`s the best idea. There are technical nuances in the preparation of a will and often the postal model does not realize you. So you may end up with results where the project is unclear, the interpretation is not clear, and you have to go to court, where you argue the beneficiaries and executors about what you meant after your death. Or you may not address enough contingencies in your will and a suitable estate planning lawyer can guide you through all these different contingencies and get the right wording so there is no ambiguity. You may have heard in some of my previous videos how important testamentary trusts are, and you are assured that a post office will not include a testamentary discretionary trust. .