A Warning About Wills

A warning about wills

Many people have had their Will prepared by the Public Trust Office or a similar organisation at little or no cost, but there is a catch! As the old saying goes “there’s no such thing as a free lunch”.

Many organisations will offer you a “free Will” but will require that they are appointed your Executor and Trustee, and there is the catch!

These organisations impose prescribed fees to administer your estate based on a percentage of the total gross value of your estate which can mean the costs associated with handling your estate can be exorbitant in comparison with the fees charged by a Solicitor because their costs are based on the value of your estate not on the work it actually takes to administer your estate.

If you have made a Will with such an organisation you should think again. A few extra dollars spent now in having your Will professionally prepared by a Solicitor may save your estate thousands of dollars after you are gone.

A lot of people also try to save a few dollars by buying a Will kit but again be warned. These sorts or kits are generic as they have to be to be mass produced. If you make a mistake in completing them, signing them or having them witnessed your Will may be invalid. Whereas a Solicitor will take the time to speak to you individually and ensure that your Will properly reflects your wishes.

 

Questions?

If you have any questions about this blog post, do not hesitate to contact McLaughlin & Associate Lawyers via call or email.

Alternatively, you may visit our office in Springwood.

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