A Will for Couples

A Will for Couples is important even though you may not consider yourself rich, but no matter where you believe you stand on the socio-economic ladder, you always need a Will. Be careful that you don’t undervalue your true wealth, or what you might be worth within a relatively short time.

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A will for couples is much, much more than the mere transfer of an inventory of assets. It is a legal document…. You can download a will for couples instantly here.

This will is made for use by married couples who want to leave their estate to each other. Suitable for couples who are married, defacto or planning to marry. You don’t always need your lawyer to write your will if it is a basic will — one that leaves a home, investments, and personal items to your loved ones.

Also known as a joint will, a will for couples is a single will that’s signed by two people, usually a married couple, leaving all their assets to each other. …

A will is a document containing a person’s instructions as to how their property is to be distributed after their death.  Failure to make a will results in the distribution of the assets of the deceased being determined by statute. The law relating to wills in New South Wales is covered by the Succession Act 2006.

However, the issues arising from including or excluding children from former relationships in clients wills are now commonplace. This demands an understanding of the options and pitfalls inherent in some apparent solutions as well as the provisions of the Succession Act 2006 relating to family provision claims.

Because legislation such as the Trustee Act 1925 provides executors with wide powers of investment those powers have been omitted from the wills precedents as entirely unnecessary.

With specific bequests take care to identify what is owned by testators such as interests in companies, trusts and partnerships.

Any expenses of looking after personalty the subject of specific bequests, such as warehousing and delivery costs are for the donee, not the estate. To avoid potential disagreement later and depending on the circumstances this should be clarified in the will.

In describing personal effects remember that it may be necessary to specifically include furniture and furnishings in sheds or detached flats and to include tools, plant and machinery such as ride-on mowers.

A release of debt is a legacy to the debtor. If releasing debt by will release the debtor and his estate, otherwise if the debtor dies before the testator the release fails and the debtor’s estate is liable for the debt.

It is important to be aware that if the will provides for a pecuniary legacy for the support of a beneficiary, the estate will be required to buy an annuity or set aside a fund sufficient for the income it earns to meet the liability. This can involve substantial capital cost to the estate as the court imposed terms are very conservative

7 pages long.  

Will for Blended Family

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A blended family is a family in which one or both partners have a child or children from a previous relationship. Careful estate planning now should ensure that all of your intended beneficiaries are provided for when you die and that the potential for conflict within the family unit is minimised.

Wills involving a husband and a wife with one or more children of their marriage generally make wills of a fairly standard
nature – they leave their assets to each other, or failing that they leave their mutual assets to their children.

A will for a blended family is drawn up when when two partners come together with one or both partners having children from a previous relationship

Will in Contemplation of Marriage

A marriage revokes a Will. 

It is important to create a Will in Contemplation of Marriage.  It is important if you have married since you made your  last Will, as that Will is probably no longer valid. If you die without making a new Will, your estate could be dealt with under the intestacy laws, where the government, not you, decides how your estate should be distributed.

There are some exceptions to this, which differ from State to State or Territory.  However, the rest of your Will would be revoked. That means some of your wishes may not be followed in the event of your death.

It is, however, possible to make a Will in contemplation of marriage – of a specific marriage or of marriage generally. Such a Will would still be valid after a subsequent marriage.

This will is 6 Pages Long.

ENDURING POWER OF ATTORNEY

An enduring power of attorney is a legal document that allows you, the “principal”, to nominate one or more persons, referred to as “attorneys”, to act on your behalf. An enduring power of attorney gives the attorney the authority to manage your legal and financial affairs, including buying and selling real estate, shares and other assets, operating your bank accounts and spending money on your behalf.

The attorney’s power continues even if for any reason you lose your mental capacity to manage your own affairs. Once you lose your mental capacity you cannot revoke this power of attorney. If you want the power of attorney to cease if you lose your mental capacity, use the general power of attorney form. An attorney under an enduring power of attorney cannot make decisions about your lifestyle or health. These decisions can only be made by a guardian, whether an enduring guardian appointed by you or a guardian appointed by the Guardianship Tribunal or the Supreme Court.

The prescribed witness certificate must be completed. Before acting as your attorney/s, the attorney/s, including any substitute attorney/s, must sign the acceptance section.

Please read the important information set out at the end of this document. It includes notes to assist in completing this document and more fully explains the role and responsibilities of an attorney.