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Do you have a legal will?

Discussion in 'The Pub' started by pete, Apr 3, 2007.

  1. Yes

  2. No

    0 vote(s)
  1. Seeing Vic's makeshift will posted earlier made me wonder how many of us have a will. Do you? If not why not? Is it because like me you keep saying you will get around to it one day?

  2. Never done a will, but I did have to nominate a beneficiary for my superannuation if I die before retirement.

    My sister gets it.

    ... hmmm, I ride a bike tho.
    Better make sure we aren't compatible for blood/marrow transfusions or anything - don't want tens of thousands of dollars clouding her judgement :p
  3. I have that problem solved. My sister gets my super if I die but I haven't told her. :)

    As for the will, nup I haven't written one. Someone will know what to do with my stuff. :)
  4. Yep. Held in bank safety deposit box.

    (1) house will be for charity. Everything else I have will go remaining
    members of immediate family. All organs, if suitable can be taken.

    Whether wife will allow it is a different matter. :p

    Brother will be Executor of the Estate.
  5. Dang, there's another thing for the must do list. At least my super fund hands over the readies to the mrs regardless. Should do it - esp with the 2 kiddies.
  6. We have only just gotten around to getting ur wills done. With 2 little kids, it was somehting that we had to do. Lucky we weren't too late....

    Things we needed to consider;

    1. If I die, what happens;
    2. If wife dies, what happens;
    3. If we both die, what happens (especially to the kids);
    4. If we all die, what happens.

    We each have an executor in case the other dies, that way, the grieving spouse does not have to worry about anything.

    The hardest part was deciding who should become the guardians of our children if we wer both to pass away. There were pros and cons for every family member, in the end it came down to a young newly married couple friend of ours that just adore hte kids. This was hte longest part about organising our wills.

    Just a note on the Super nomination. If it is a discretionary nomination, then even though you nominate a person, the super company can elect not to give it to that person. I think I also recall something along the lines that it will most liekly be handed over to the executor of your will anyway as they are now in control of your estate.
  7. Yeah were going through a nice family fight over a will atm and they aren't even dead yet. It started a couple of years ago when my grandma got dimensia. Since I seen all this fighting back then I decided to make one up.

    I really feel sorry for my sister and the debts she will incur. That'll teach her for making drink crazy concoctions she made up in the kitchen when we were kids.
  8. Thats actually a little problematic.
    If you die "intestate" (no will) the law actually dictates who gets what according to a formulae, and the process is managed by State Trustees.
    Anything / anyone else is basically ignored, unless you want a good old probate court fight. (Lawyers get it all).
    My recommendation is that if it is a straight forward "bread and potatoes" will, meaning you haven't got 5 x exwives or 27 kids, a "will kit" would do nicely.
    Pay some thought to who the executor will be though. It is legal (but usually not wise) to make it a family member. Instead pick a good family friend or your lawyer! :grin:
  9. If the will and / or living will are drafted and executed correctly wife has no say re: organs.

    This is not such a silly idea, as she can override any wishes as your nect of kin at the time. And a will wont do it, because to donate you are still "alive" hence the living will.
  10. Yopu cannot bequeath debts as a rule...(sorry) :p
  11. He He, intestate. :LOL:

    (C'mon, it sounds dirty...)
  12. You can inherit a vehicle encumbered by finance though.
  13. Yes you can, true. But the debt attaches to the vehicle through a morgatage, same as a house. You cannot bequeath a personal debt that has no "advantage" or goods attached.
  14. Yeah got one, did one when i turned 18, did another when i got married, did another when i had kids, did another when i got divorced.

    There are several copies of it, i have a copy, my kids have 1, my dad has one in his deposit box and my bro has one.
  15. I don't have a will, though I probably should. I really know better than to not have one, but I guess I am just too lazy (and currently, dying intestate would result in my estate being distributed the way I want anyway).

    Pretty much, die intestate and your goods will be distributed by law; in a basic nutshell, your spouse & children come first, if you don't have any of those, then your parents, none of those, then your closest relatives (though, as with everything legal, it's never that simple :cry: ). Though a grant of general administration will normally be awarded to whoever has the biggest interest in the estate, so if you die without a will, the estate will be administered by the person likely to take the most. If it's hard to determine who has the greatest interest, or if they refuse, then administration may be given to the public trustee.

    If you do get a will kit, make sure you run it by your solicitor anyway! Disputes over wills are nasty, messy things, and pop up way too often (even in the most meat and potatoes of families!), best not to give anyone any easy way to fight your will...
  16. my gf and I desperately need to get our wills together, particularly because of the same-sex thing and that we aren't allowed to just use a will-kit. stupid fcuking govt - we're good enough to pay taxes but not good enough to be considered a family who can have a "normal" will.
  17. Emsie ~ Typical double standards. Stoopid, I agree :?

    No will for us yet and it really bothers me, just haven't managed to get around to it.

    Bumping it to the top of my to-do list.
  18. I'd be less pissed off with double standards if this particular double standard wasn't gonna cost me lawyer's fees, regardless of what I want in my will (I could have a standard "just give everything to my gf and our (soon to be born) daughter" and I have to see a lawyer to do it :shock: )

    For that and a multitude of other things, I'll continue ass raping the govt over taxes and single parent pensions and stuff like that, just because there's loopholes for me to do so.
  19. Also remember wills are not as legaly binding at they seem, any one with an 'interest' can dispute a will and atempt have it overturned or amended, while this is happening the legal $$$ canadd up to heaps

    In Victoria one thing to remember also is that the public trustee department was privatised a number of years ago, there have been some horor stories about the way they administer deceased estates and the $$$$$$$$ they charge (taken from the estate)