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.

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