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WILLS Having a professionally prepared will gives you the certainty of who administers your estate and who receives what. It also reduces the opportunity for others to make a claim - those you don't want to benefit from your estate.
But if you die intestate, or with an out of date or poorly prepared will - you could be leaving behind more worry and expense than anything else.
The Public Trustee offers free wills. But, like all buy now-pay later schemes, there's a catch. They will administer your estate and deduct a commission of approximately 5% of the gross value - any debt is not taken into account in calculating this commission.
You can pick up a do-it-yourself "will kit" cheaply. But your family and estate are probably worthy of a little more consideration and planning.
If you have children, for instance, you need to establish proper trust provisions. Then there's your superannuation to consider...
Your super fund trustee is not bound to pay your death benefit to the beneficiaries specified in your will. And defactos and former partners can claim death benefits from your super fund trustee.
It can cost as little as $550 plus GST to have Connolly Suthers prepare an individual will and enduring power of attorney. Or as little as $750 plus GST for mutual wills and enduring powers of attorney*. (Compare that with the value of your home).
As required, Connolly Suthers will collaborate with your financial planner or accountant to carefully plan your estate and prepare your will - and ensure that what you leave others isn't eroded by taxes, fees and duties.
So, for a professionally prepared will, leave it to Connolly Suthers.
* Enduring power of attorney: the legal document appointing someone to attend to your financial and health matters should you become incapacitated.
If you would like us to prepare your will, please complete the Will Making Checklist and return it to us.
For more information on will preparation and estate planning or testamentary, discretionary or trust wills see our estate planning / retirement law section, or just ask us.