Wills & Estate Planning
Our team provides a personal, empathetic and professional service in the areas of Will preparation, succession planning, personal asset management and estate administration. Our reputation has been created over many years. We are proud of our association with many Australian families, an association that in some cases embraces several generations.
The costs of drawing a basic Will start at $300 plus GST for a single person or $500 plus GST for a couple. Drawing a more complicated Will costs more depending on the complexity of the Will. Our fees for Will preparation are communicated to you upon the return of the Wills Instruction form.
The simple steps required to complete your Will are:
- Fill out the Wills Instruction form Click here to download the form
- Return the form via post, email or fax to:
Post to:
Vicki Dunn
Senior Probate Clerk
Norman Waterhouse
GPO 639
SA 5001
or Email a scanned copy to vdunn@normans.com.au
or Fax to (08) 8210 1234.
- We will contact you to provide a quotation for our services and if you are happy to proceed, we will send you your Will in draft format for your approval.
- Once you have approved the draft of your Will, we will make an appointment to see you to sign the documents.
What are the risks associated with ‘off the shelf’ and online Will Kits?
Some Will kits and on line Wills are very inexpensive, as little as $20. The companies which provide these make it compulsory to appoint them as executor. Many Trustee companies charge a commission for administering your estate based on the net asset value of your assets e.g. If the Trustee company charges a 5% commission on a $300,000 estate your fee will be $15,000 which is deducted from the Estate.
A Will Kit document may not be valid if any part is incomplete or incorrect.
A Will Kit cannot replace the expert advice of a qualified legal practitioner.
Frequently Asked Questions
Can I make my own Will?
Yes you can but you should be aware that if it is not properly written, signed or witnessed it may be invalid. When our solicitors prepare your Will, your needs and wishes will be clearly set out and you will have a professionally prepared document that will prevent unnecessary difficulties for your beneficiaries.
Can I change my Will?
Yes you can but you should not write on your existing Will or make other alterations. If you want to change your Will you should seek professional assistance which we can provide.
When should I change my Will?
When your circumstances change you should consider making a new Will. The birth of children or grandchildren, the purchase or sale of property, retirement, death of a beneficiary, marriage separation and divorce are times when you should consider whether your existing Will caters for your needs. In the case of marriage or remarriage, your existing Will becomes void and unenforceable and you should execute a new Will.
What is an executor?
An executor is the person responsible for the entire administration of the estate until the final distribution of assets is made to your beneficiaries. Duties include locating the Will, applying to the Supreme Court of SA for a Grant of Probate, lodging taxation returns, advising beneficiaries, collecting and transferring assets, keeping proper records, paying debts and distributing the assets in accordance with the terms of the Will.
What is a trustee?
When an executor completes the administrative duties but cannot distribute all of the assets for whatever reason (e.g. a beneficiary is a minor), he or she becomes a trustee and continues to administer the estate until it can be finally distributed. An executor also becomes a trustee when a life interest in certain property is created under the Will or a trust is set up by the Will.
When is a Will revoked?
A Will is automatically revoked when:
- A new Will is made. The most recent Will cancels all previous Wills.
- A correctly signed and witnessed written revocation is made.
- Destruction with intention of revocation.
What happens if I marry?
A Will is revoked by marriage. All married persons should make a Will. If you die without making a Will during your current marriage, your estate will be distributed according to the laws of intestacy.
Does separation revoke a Will?
No it does not. It is very important to update your Will if you separate and no longer wish your spouse or domestic partner to be a beneficiary.
Does divorce revoke a Will?
Divorce revokes certain aspects of a Will. Upon termination of a marriage, any beneficial gift under a Will in favour of a former spouse is revoked unless specifically contracted, as is any appointment as executor or power of appointment under a Trust conferred on a former spouse. You should seek professional advice on this issue which we can provide. You should consider making a new Will as soon as your circumstances change.
What about same sex and opposite sex de facto relationships?
A person living in a de facto relationship should be aware that if there is no Will, current legislation may recognize the rights of his or her partner in terms of the distribution of his or her assets. It is recommended that each partner makes a Will to avoid costly legal actions.
Where should I keep my Will?
Your Will should be kept in a safe secure place, ie a safe or safety deposit box. You are welcome to leave your original Will with us free of charge. You will be provided with a copy of your Will to keep at home.
Do I have to pay Death Duties?
No.
What about assets in joint names – Joint Tenants?
All assets in joint names pass to the survivor(s) upon the death of the other joint owner. Joint property does not form part of a person’s estate. Joint property cannot be disposed of by a Will or under the law of intestacy.
What about assets in joint names – Tenants in Common?
Property that is owned as tenants in common falls into the deceased person’s estate and is distributed to the beneficiaries of the estate in accordance with the terms of the Will. If there is no Will, the deceased person’s share is distributed according to the intestacy laws.
What happens when there is no Will? Who is entitled to share in the estate?
When a person dies without leaving a Will, but leaving an estate that requires administration, the estate is dealt with according to the laws of intestacy.
If a deceased is survived by a spouse or domestic partner but no children, that spouse or partner is entitled to the entire estate of the deceased.
Where a deceased is survived by a spouse or domestic partner and children, but the value of the deceased's net assets is less than $100,000, that spouse or domestic partner is entitled to the entire estate of the deceased.
However, where a deceased is survived by a spouse or domestic partner and children leaving an estate exceeding $100,000, that spouse or partner is entitled to:
- all of the deceased's personal chattels including motor vehicles;
- the first $100,000 of the deceased's estate; and
- 50% of the remaining balance.
The deceased's children are entitled to the balance in equal shares.
If a person dies without leaving a spouse or domestic partner or children, then the estate is divisible in degrees – the classifications being as follows:
- relatives of the first degree – father and mother.
- relatives of the second degree – brothers and sisters, and children of deceased brothers and sisters.
- relatives of the third degree – grandparents.
- relatives of the fourth degree – brothers and sisters of the parent of the deceased, that is: uncles and/or aunts, and the children of deceased uncles and aunts.
If you have any queries please contact Brendan Murray or Vicki Dunn on 8210 1200.
Our Wills & Estate Planning Specialists