6 replies to this topic

[Selfdestruktor]

Has anyone looked in to them and can recommend a half decent one, for a reasonable price?

I'm single, medium income, no complicated investments or outrageous loans and work in a basic government job.
Sure, if I get married / have kids / other complications, I'll go through the proper process with a real lawyer, but for now, I can't really see the point.

I just want something that will give my family a bit of protection in the event of my untimely demise, ensuring the right things are settled and THEY have the power to make decisions over my assets.

[Tiger]

I remember they have will kits at the post office for singles and married. They weren't dear, either.

Newspower or Australia Post.

Worth a try...

[perrin_07]

yeah i see them at the post office....i think one was under $20 and the other over $40? im guessing single was cheaper.

[Captn_Awesome]

I dont know about as a single but I was advised by my solicitor (who is my one of my dads best mates so costs me nothing unless I go to court) to get a proper will done rather than a will kit when I bought my house with my partner. Now that may have more to do with the implications having an unmarried partner (at the point when we bought the house together we hadnt been together long enough to legally identify as defacto either) than anything.
That said he was more concerned about making sure I had my life insurance policy amended to have my partner as the beneficiary and my insured value up'd to $1.2million to ensure she keeps the house and other investments/assets/loans can be paid out without her having to worry.
I think making sure your life insurance is upto date and has enough value is probably more important than a will IMO.
Like in all honesty if you dont own conciderable tangeable assets such as a house theres not really much to worry about with a will. But having correct life insurance cover for death, total permanent disability, income protection and trauma is way more important and usually at least 3 of the 4 can be obtained through your superfund (I dont have income protection as my super fund manager doesnt offer it and I work for a family business) so you dont really even notice it - especially those of us on the lower side of 40. Super is SFA of my retirement plan so having a large 'super' isnt too much of a concern. I've got real estate and sharemarket investments that I'm more concerned about for retirement.

[BIGW]

Kirk, a post office number is perfectly adequate, just make sure it is filled out correctly.

This is what I have done and had a contract solicitor look it over to see if I had missed anything.

Enduring Power of Attorney is probably something advise you do at the same time. Should you be incapacitated or not be capable of making decisions for yourself. The office of the public advocate is certainly not who you would want to be handling your affairs.

Edited by BIGW, 17 November 2011 - 03:46 PM.

[Captn_Awesome]

Yeah fair enough I figured they would be as other wise they wouldnt be so popular and im sure ACA would have done a 'crack down on dodgy wills' article other wise.
Like I say the only reasonI got a solicitor to do mine is that it cost me nothing unless I go to court.

[Pulse-R]

getting the wording right to keep it airtight is the trick.

solicitors like to line their pockets.