capacity

Where can we get wills drawn up in Perth.

jad n rich

Most solicitors over here do them from about $50. Ask the price first!

mamichelle

You can get a do it yourself pack from the post office for $20 or so which walks you through the process. That was recommended to us by our immigration agent, who is also a lawyer.

worzel

Are wills we have made in the UK still valid or do we need to re-make them? If still valid, should we collect them from our solicitor before we leave?

ProofReader

Yes, your wills made in UK are still valid (provided that they were properly done at the time). It's a good idea to keep them somewhere that your executor knows where to get hold of them in the event of your demise. As long as that is made known, no problems where you keep them.

It's always a good idea to update a will in the event of the death of someone named in your will (whether they be executor, beneificiary, guardian or whatever), on divorcing, remarrying or having (including adopting) a child/children. Another reason to update would be any major changes in your financial affairs, particularly if you come into an inheritance, win the lotto, etc.

Your will does not need to reflect your current address.

Wills are not just for leaving money or other financial wealth to people. They are about bequeathing sentimental objects (eg who gets your wedding/engagement rings or that favourite childhood toy, etc), organ donation, the choice of burial versus cremation, guardianship of any minors (your children) and a lot of other things too.

In my opinion, everyone over the age of 18 should have one! They can save the poor sods left behind some agonising decisions as well as any possible conflict.

worzel

Thanks for that. Our wills are very simple, we just leave it all to each then to our daughter. Some further questions, if I may:

How does our UK solicitor get to find out if both of us die or how do next of kin, if not us, know who our solicitor is?

Do our enduring powers of attorney remain valid in the UK too?

Would our executor (being the UK solicitor) incur many more costs and thus deductions from the estate than if we transferred to Aussie solicitors?

Our estate is just enough to have inheritance tax implications in the UK. Are there similar issues once we live in Aus?

Brissiegirl

our solicitor here in the UK suggested we get our wills redrawn in Australia...

Alan Collett

That would be my advice too - establishing title to the deceased Aussie assets with a UK Will is likely to be more problematic than with an Aussie Will.

Also, there may be UK Inheritance Tax issues to consider ... if you retain no UK situated assets revoking a UK Will might be helpful in that it would mean avoiding dealings with the UK Inland Revenue when seeking probate, and could help if you are claiming you have ceased to be domiciled in the UK (domicile being a key determinant of one's liability to UK IHT) ...

Best regards.

Alan Collett

2 quick comments:

- There is no IHT in Australia, but there is a potential CGT exposure if a beneficiary of the estate is not resident in Australia

- UK IHT can remain an issue long after you have moved to Australia. This is because your domicile (not residency) drives your liability to UK IHT in respect of estate located outside the UK ... and you can remain domiciled in the UK for many years after you have departed the UK.

Best regards.

JAJ

I am not sure how much of an issue this really is where there are no assets left in the UK and the will is done under Australian law.

In practical terms the UK Inland Revenue will probably not know about such an estate and even if they did, disposing of all UK assets and making an Australian will (and taking Australian citizenship) would all be indicators of abandoning a UK domicile.


Jeremy

ProofReader

Sorry, worzel, it appears I overlooked your further questions.

To start with, and in reference to several other replies, I simply answered your original question. However, if you are moving to another country, it'd be a good idea to update your will anyway - I agree with the others.

Now to try to answer your questions:

Q. How does our UK solicitor get to find out if both of us die or how do next of kin, if not us, know who our solicitor is?

A. As a 'professional' executor, it is a solicitor's duty to ascertain if they hold a valid will for someone who has died. Therefore, they should keep tabs on, and/or place, various public notices which pertain to deaths. In most cases though, they are usually notified by the next of kin. It is prudent to let your next of kin (and executor, if not held with him/her) know where your will is held.

Q. Do our enduring powers of attorney remain valid in the UK too?

A. Yes, as 'enduring' powers of attorney, they remain valid for the relevant jurisdiction in which they were made - in your case, UK. As Alan and JAJ pointed out with the wills, though, the question of domicile may be raised, depending on when/if the powers given were invoked. In essence, you will need to make new enduring powers of attorney once you reside in Australia for local jurisdiction.

Q. Would our executor (being the UK solicitor) incur many more costs and thus deductions from the estate than if we transferred to Aussie solicitors?

A. Simple answer: yes, due to the distance involved and the likely lack of knowledge (therefore research required) of Australian legislation. In any event, if you choose to appoint a solicitor as your executor, your estate will obviously have to pay for his/her time and expenses.

Why not consider appointing each other (yourself and your wife) as each other's executors? The cost of administering the estate is then reduced considerably.

If your estates are fairly straight-forward (each to each other, then the kids; no trusts or complicated matters), it is not difficult to administer an estate. You can always pay a solicitor for advice on certain things and do the things which you can manage, eg notifying banks, social security (if applicable - pension?), tax office, superannuation funds, life insurers, etc. It would save the estate quite a bit if you just pay, for example, to get the title of real property (eg your home) transferred, although you can do this yourself too.

If it is necessary to gain probate, a solicitor can be paid for that if you feel unable to deal with it, although probate is not always required. You'd need to research this at the time, as it will depend on the actual estate left behind and the relevant law at the time.

Most financial institutes are geared for people doing their own work in this regard and you'll find the relevant notification forms on their websites. Complete the form, send it in with certified copies of death certificate and will, and they'll transfer it to the beneficiary or ask for any further documents or information as required.

Six years ago, I administered my father's estate upon his death. I am not a solicitor (therefore all of this is suggestion only, not legal advice), but I was my father's executor and the estate was a basic one (each to each other - family home, small life insurance policy, small bank accounts, etc). The process of transferring everything into my mother's name was simple, if a little time-consuming. Rather than pay a solicitor to fill in forms, I did it and probably saved Mum a few thousand dollars which she could ill afford. I also managed to get a bereavement payment from social security for her.

It's surprising what you can do when you have to! If you can manage to get through all the mumbo-jumbo of paperwork required for immigration, I'd imagine you would also manage, at least, most of the paperwork required for a deceased estate.

A couple of links with good information follow:

Australian Tax Office - Managing the affairs of someone who has died
Australian Law Online
NSW Young Lawyers (part of the NSW Law Society) - Wills and Powers of Attorney
Law Institute of Victoria - wills
Law Access Online (NSW Government) - powers of attorney
State Trustees (includes an assets calculator)

This is just a sample - there are loads more!

Obviously, there may be many other factors involved depending on your individual circumstances.

As I said, I am not a lawyer and this is not legal advice - simply some practical tips from my point of view. I have, however, worked with (and studied) the law in Queensland for over 20 years in many capacities (including as a paralegal and precedents manager).

Hope the above is of some assistance.

worzel

Thanks for your comprehensive answer. It won't be top of our list but we will get around to having them redrawn once we are out there.