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Preparation of Wills DIY Kits vs Professional Service

Discussion in 'General Investing Discussion' started by JudgeDreadz, 10th Nov, 2010.

  1. JudgeDreadz

    JudgeDreadz Well-Known Member

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    Hi there

    I am planning on writing my will in the near future.

    I have no idea how to get started on this. Could someone please advise me how to start? I have been recommended to use DIY kits.

    If this is your recommendation as well, could you also recommend some kits that you have used in the past that you were satisfied with?

    Thanks
     
  2. AsxBroker

    AsxBroker Well-Known Member

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  3. Billv

    Billv Getting there

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  4. JudgeDreadz

    JudgeDreadz Well-Known Member

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    Hi Bill - yes a sample will would be helpful. Thanks
     
  5. Billv

    Billv Getting there

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    JudgeD

    ok I'm attaching a copy here.
    All of the names and addresses are fake.

    If you like the content you can copy and paste it into a word doc. Otherwise send me a PM and I'll tell you where to get this free sample issued online with your personal details.

    cheers
     

    Attached Files:

  6. Billv

    Billv Getting there

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    Attached Files:

  7. Waimate01

    Waimate01 Well-Known Member

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    There's an old saying: "Where there's a will, there's an argument".

    Some of the basis for argument can be quite subtle and unintuitive.

    For example, if you decide to not provide for your redheaded stepchild who spat on your birthday cake, the stepchild has a reasonable basis to challenge the will. But if you bequeath the kid $5, the basis for the challenge is greatly ameliorated. Apparently the basis for the claim could otherwise be "he forgot about me", but the $5 makes it clear you just didn't like him. Tricky, and not at all (to me) obvious.

    Likewise, one must be very careful with the physical documents. Indentations showing that something was once written on another piece of paper laying ontop of the will at some point can be the basis for challenge. I think there's also something about using the same pen, or maybe it was not the same pen.

    Also all sorts of minefields about predeceasing. Eg, a car accident may wipe you and your wife out, but one of you may linger for 10 mins. That affects the predeceasing provisions of your will.

    I guess it depends on how likely there'll be some rancour when your goods are being divided up - whether its worth arguing about, and whether people who may have a claim might be inclined to argue.
     
  8. JudgeDreadz

    JudgeDreadz Well-Known Member

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    Thank you so much BillV =)

    This helps me out a great deal.