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Why we avoid doing our Will

When it comes to Wills, a staggering 9.9 million Australians still don't have one in place. And given that every Australian adult needs to have one in place, it simply begs the question: why doesn't every Aussie have one?

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Storing your Will: Explained

Over the past few weeks we’ve had a number of customers ask whether we store their signed Wills for them. At WillPro, we don’t hold onto your signed copies of your Wills - but there are a bunch of alternative options out there for where they can be stored. While the rules are slightly different in each Australian State/Territory, the overriding principle is that as long as you and your executor/s know where the signed Will is stored, you can keep it in any safe place within your house. There is no legal requirement to keep your Will at a law firm, although many law firms (who all have fireproof safes) offer this service free of charge. It’s really up...

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When you don't know where to start

How much detail will I need to give when I do my Will?  As much or as little as you like. The law recognises that a person's Estate is the sum of all assets in their name at the date of their death.   How will people know what my Estate consists of when I die?  Two words: Mind-reading. And where mind-reading fails, with a little help from Lawyers (optional), the Government and Financial Institutions. As covered in our recent blog, the Executor is the O.G. of your Estate. They are in charge of administering your Estate after you pass away and once the original copy of your Death Certificate is released (charming, we know). So how does one administer an Estate?  Plainly speaking, to administer...

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Couples Wills: Explained

Why the Will-making process for married or de facto couples doesn’t have to be twice the work (or price!). Mirroring or Mirror Wills are a perfect fit for couples in long-term relationships, and they are exactly as their name suggests. Essentially, Mirror Wills are two individual Wills that mirror each other; or in technical legal terms, ‘same-same-but-different.’ They are designed for: Couples who are in married or de facto relationships; Have only minor differences across their Wills (e.g. different executors, preferences) While each person gets their own individual Will, the team at WillPro acknowledge the fact that many couples have mutual interests, be it financial (e.g. assets) or personal (e.g. children, pets, celebration of life preferences), and that given these...

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Executors: Explained

Legal jargon is something we all love to hate, especially lawyers (well, most of us…). A bit like the ‘as per my previous email’ passive-aggressive-power-move, legal words often come across more pretentious than useful.  At the end of the day, it’s really not as complicated as it all sounds. In fact, the reason a lot of legal terms sound so unfamiliar is simply because we just don’t use them in our day-to-day lives (unless you talk about Wills with everyone you meet,  in which case, please pass on our condolences to them). An example of an oft-unheard of legal term is Executor (pronounced: ‘Exec-Queue-Tore’). And in the context of Australian Succession Law, it is a title given to the person in charge of a...

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