Build these Estate Planning documents online Price
Last Will and Testament $110 – $770
Enduring Power of Attorney – stop government meddling $88
Medical Power of Attorney – lifestyle & healthcare $88
Estate Planning Package – 3-Generation Testamentary Trust Wills, Enduring and Medical POA

 

Complete these Training Courses online
Estate Planning Training Course – includes 3-Generation Testamentary Trust Mutual Wills
Protecting vulnerable children in Wills Training Course – includes 3-Generation Testamentary Trust Mutual Wills

 

Policy Guide for Licensees and Accounting Practices
Standards & Accreditation – for building Estate Planning documents on our law firm’s website – free

 

Build these Additional Estate Planning documents online Price
Contractual Will Agreement – for 2nd marriages $220
Codicil to change Executor in your Will – remove Public Trustee as Executors $77
Forgive a Debt Agreement – also gets rid of Family Trust’s UPEs $110
Deed of Gift $109
Spouse Loan Agreement $99
Loans to Children $99
Loans to Parents $99

 

 


 

 


 

 


 

 

 

 

 

 

 

 

 

Question and answers

1. Where do we store the signed Will? When you build the Wills and POAs you are given advice on where to store your legal documents. You generally store them at home or in the bank, or with the executors (for a Will) or attorney for a POA.

2. Is it a good idea to have more than one original signed Will? Sorry, but that is not possible. You can only have one original signed Will. You cannot have two signed Wills. To labour the point: if you sign a Will now, and in 2 minutes time sign another Will then the second signed Will is the only Will in existence. When you sign a Will it automatically renders all older Wills null and void. In contrast, you can have many signed original POAs.

3.  We can build two types of Wills: simple or 3-Generation Testamentary Trust. Which is best? If your family home, superannuation, shares and life insurance are over $1m then you should build 3-Generation Testamentary Trust Wills. However, if you can afford it you should always build 3-Generation Testamentary Trust Wills. They 1. reduce the 30% tax on your Superannuation 2. contain a Divorce Protection Trust in case your children, grandchildren or beneficiaries ever get divorced, and 3. generally save tax for up to 80 years from the date of your death.

4. Do you have a template to jot down the assets of the Willmaker?  Your financial planner and accountant consider your assets and how they are owned. However, this is of little interest in the building of the Will. For example, if you are leaving ‘everything’ to your spouse and then everything to your children once both dead then what assets you own are not relevant. ‘Everything’ is going to your spouse. Also, as you don’t know the time of your death you do not know what assets you own at death.

5. Can I see a sample of the document? Yes, all our documents have a sample that you can see before you start building the document.

6. Can I get a list of the questions that are asked? Yes, all out documents have a checklist which you can download and print.

7. Apart from the Will, Enduring POA and Medical POA what else should I consider for my Estate Planning? You may also consider:

1. Contractual Wills Agreements – for 2nd marriages
Plus when you have a Family Trust:
2. Family Trust Update with succession planning
3. Deed of Debt Forgiveness to get rid of money the Family Trust owes the children
Plus when you have a Self-Managed Superannuation Fund:

8. Are there any training courses? Yes, there are two training courses (which are currently free) you can complete online:

9. Our accounting house wants to develop an internal Policy for Estate Planning and building Wills online. Can you help? Yes, for free financial planners, dealer groups and accounting houses can build their own Estate Planning Standard Policy here. It sets out best practice when your staff build Wills and Estate Planning documents on our law firm’s website. It also has marketing information you may wish to use.
10.  Does a beneficiary have to set up a Testamentary Trust? Sadly, when the Will only contains a common garden variety Testamentary Trust, the beneficiary is forced to set up a Testamentary Trust. This is when the Will maker dies. However, this is not the case with a 3-Generation Testamentary Trust. With a 3-Generation Testamentary Trust Will, each beneficiary can set up one or more Testamentary Trusts – or none. Say the beneficiary is getting the dead person’s family home. The beneficiary is at liberty to just transfer the home directly into his name. This is without the need to set up the testamentary trust.
11. Is Probate more complex or expensive when the Will contains Testamentary Trusts or 3-Generation Testamentary Trusts? There is no added expense in getting Probate. However, there is an ongoing yearly expense in maintaining testamentary trusts. This the fee that your accountant charges to do the trust tax return each year. However, the savings in tax is usually worth this accounting cost. They operate for up to 80 years from the date of the Will maker’s death. But a trust can be wound up in any year if it is no longer required.