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It is possible to make your own Will, but you should be aware that if it is not properly written, signed or witnessed it may be invalid. When Public Trustee's experienced staff prepare your Will, your needs and wishes will be clearly set out and you will have a professionally prepared document that will prevent unnecessary difficulties for your beneficiaries.
Yes, but you should not write on your existing Will or make other alterations. If you wish to change your Will, it is important to get professional assistance which can be provided by Public Trustee at no cost, only if we are appointed Executor of the Will.
As your circumstances change, you should consider making a new Will. The birth of children or grandchildren, the purchase or sale of property, retirement, death of a beneficiary, marriage, separation, divorce and remarriage are times when you should consider whether your existing Will still reflects your wishes.
An executor is named in the Will as the person (or trustee organisation) responsible for the entire administration of the estate until the final distribution of assets is made to the beneficiaries. Duties include locating the Will, applying to the Supreme Court for a Grant of Probate, lodging taxation returns, advising beneficiaries, collecting and transfering assets, keeping proper records, paying debts and distributing the assets according to the terms of the Will.
When an executor completes the administrative duties but cannot distribute the assets for whatever reason, he or she becomes a trustee and continues to administer the estate until it can be distributed. This can occur where the beneficiaries are infants and distribution is deferred until they reach 18 years. It may also arise if there is a life interest in an estate or a trust is set up by the Will. Because the trustee is often required to manage assets over a long period, the need for permanency and financial management skills is essential.
A Will is automatically revoked by:
A Will is revoked by marriage. It is important for all married persons to make a Will. If you die without making a Will during your current marriage, your estate would be distributed according to the laws of intestacy.
No. It is important to update your will if you separate and no longer wish your spouse or domestic partner to be a beneficiary.
Divorce revokes certain aspects of a Will. Upon termination of a marriage, any beneficial gift under a Will in favour of a former spouse is revoked unless specifically contracted, as is any appointment or power of appointment which was conferred on a former spouse. You should get professional advice on this issue which can be provided by the Public Trustee at no cost. You should consider making a new Will to cover your changed circumstances.
A person living in a de facto relationship should be aware that if there is no Will, current legislation may recognise the rights of his or her partner in terms of the distribution of his or her assets. It is recommended that each partner make a Will to avoid costly legal actions.
Your Will is a valuable document and should be kept in a safe place. Wills prepared by Public Trustee are held free of charge in safe custody. You will be given a copy of your Will to keep at home.
No. There is no Death or Gift Duty in South Australia, nor is Federal Death or Gift Duty payable.
When property is owned as joint tenants generally it passes automatically to the survivor/s upon the death of the other joint owner. As a result, joint property does not form part of a person's estate. It cannot be disposed of by a Will or under the intestacy laws. Commission is not charged on joint property.
When property is owned as tenants in common the deceased person's share of the property does not automatically pass to the surviving owner or owners. The deceased's share of the property is distributed according to the terms of his or her Will. If there is no Will, the deceased person's share of the property is distributed according to the intestacy laws.
When a person dies without leaving a will, but leaving an estate that requires administration, the estate is then dealt with in accordance to the laws of intestacy.