Australian Legal Templates
Joint Will including Children
Joint Will (+Children)
A Joint Will 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 Joint Will. Be careful that you don’t undervalue your true wealth, or what you might be worth within a relatively short time.
Download your own Joint Will here
A joint will for couples template 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 joint 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 joint will if it is a basic joint will — one that leaves a home, investments, and personal items to your loved ones.
Also known as 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 joint 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
Joint Will Template is 7 pages long.
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How to Sign your Will
- You must sign and date your Will in the presence of two witnesses at the same time. It is best that all three persons use the same pen as proof of the fact that they were together at the same time.
- Your witnesses should not be beneficiaries or potential beneficiaries under your Will. There is a presumption at law that a beneficiary who has also witnessed a Will may have used undue influence in order to obtain a gift in the Will. The law therefore invalidates gifts to beneficiaries who serve as witnesses. The same applies to spouses of beneficiaries.
- Subject to the above, your Will can be witnessed by anyone who is of sound mind and at least 18 years old.
- You should review your Will in the presence of your witnesses, then sign it on the last page and the foot of every page, using your normal signature. Take care not to miss any pages. Then write the date on your Will.
- Both witnesses must see you sign your Will. They also need to see each other sign as witnesses. This requires you and your witnesses to be present at the same time.
- Your witnesses should view every page so they can confirm, if asked, that there were no amendments when you signed your Will. They do not, however, need to read the Will or know what it says.
- After you have signed and dated your Will the first witness must then sign at the bottom of each page and at the end of the Will immediately below the attestation clause in the space provided. The second witness then follows this same procedure. The witnesses should include their full names, occupations and addresses so they can be located in the future if it becomes necessary for them to verify that you signed the Will. You should confirm that each witness has signed where required. Do this while they are all still in the same room. Finally, make sure all pages of your Will are stapled together.
Storing Your Will
Keep your Will in a safe place and tell your executors where you have put the original. You may also consider giving your executors a copy of the Will. There is no requirement to register your will or do anything else with it.
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