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The in-laws will

Discussion in 'Estate Planning' started by Bluegum, 26th Sep, 2008.

  1. Bluegum

    Bluegum Member

    Joined:
    19th Jun, 2006
    Posts:
    7
    Location:
    Albany
    My in-laws insist on filling out a hand written "Stat declaration" for a will and get my wife and her brother ( the beneficiaries) to co sign it to agree on the way the estate is divided between them. He insists on doing this way because he is too stingy to pay a solicitor. i have advised my wife to seek legal advise but she does not want to upset her father. I went and got him a legal will kit but he insists on doing it his way. do i have just cause to be concerned?.
     
  2. Mark Laszczuk

    Mark Laszczuk Well-Known Member

    Joined:
    16th Aug, 2005
    Posts:
    793
    Location:
    Brisbane
    It might pay to enquire at the requisite Govt agency with regards to whether they will recognise a stat dec in lieu of a will. If they do (unlikely) I would say that your worry would be anyone contesting the will. If they don't then it is entirely possible that the Govt will split the assets accordingly to a strict formula and take a bunch of said assets, thank you very much.

    How much does he own? I would suggest that you just walk away from the whole mess as there doesn't seem to be much you can do.

    Mark
     
  3. Bluegum

    Bluegum Member

    Joined:
    19th Jun, 2006
    Posts:
    7
    Location:
    Albany
    The in- laws will.

    Hi Mark,
    thanks for the reply. After a lot of negotiating i finally talked the in-laws into seeing a solicitor this Thursday and completing a will. What a relief,i had visions of me doing a lot of chasing around and spending a lot of money on my wifes behalf trying to sort a legal minefield.