Free Online Will - Normally $150 [EXPIRED]

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slatergordon.com.au

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    wisc on 21/05/2011 - 10:21

    quick questions, one of our friends did a free will, and a third party was appointed as the execuiters, and as such got a 6% cut in everything one partner ownered when they passed away… (this being unbeknownest to the family before hand!!!)
    who will be the execuiter of the will and will/how much of a cut will they get?

    (seems a extreamly good reason to provide free will kits and do nothing for huge amounts of cash! which they did, friend did all the chasing up and all the work, they got money for nothing! *&^%ards! )

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      maximum on 21/05/2011 - 12:51

      +1

      I have done one of these slater and gordon wills and it allows you to appoint your own executor -so none of the above problems - I am guessing the will you are talking about was probably the nsw trustee etc. they have free will days and keep your will but then they charge a percentage to administer the estate. this will you keep yourself and really has nothing to do with slater and gordon - unless you choose for them to be involved- so there are no cuts from them. but this is a good lesson that sometimes "free" isn't all its cracked up to be.

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      AssociatedCeilidh @ slatergordon.com.au on 21/05/2011 - 13:39

      +4

      Hi Wisc,

      Maximum is pretty much on the money. I actually send your comments off to one of our solicitors and here is his response:

      Many 'free Wills' are offered by trustee companies in the expectation they will be appointed the executor and then administer the estate. Commonly these companies charge a fee for the service plus a commission based on the value of the estate. It sounds as if this is the trap your friend fell into. You do not have to incur this high cost. You can appoint friends or family to be your executor and this can keep the cost to a minimum. If someone independent is required you can appoint a professional (lawyer or accountant) and they usually charge their standard rates to attend to the work. It's much cheaper than using a trustee company. Doing a will and appointing your preferred choice of executor is one very good reason not to die 'will-less' because then there is a higher chance a trustee company will get the job rather than the person you select.

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  seboya on 20/05/2011 - 11:26

  many thanks SG

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  petec_7 on 22/05/2011 - 00:55

  +1

  My wife just signed up for this. At the registration it only asks for her details. I wouldn't need to sign up also would I? Seems a bit weird for us to have 2 seperate wills - it's not like we're the Beckham's :)

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    Daabido on 22/05/2011 - 09:23

    Each adult requires their own will. So your wife dies, leaves everything to you. That's fine. You die, no will, it all depends on what the law says as far as who gets what. Do you love your wife or not? Would you rather decide who gets what or do you think the Government will do just as good a job as you of deciding the fate of your possessions?

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      wisc on 23/05/2011 - 10:43

      Damnit i thought it was one will for both of us too…!

      ahhh crud! now i have one and they don't…

      thanks for the great feedback Ceilidh.

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  maverick on 22/05/2011 - 18:43

  +1

  steady on there … while it's agreed that people should make Wills it could invoke a bit of unnecessary fear to say that if you don't have a Will, the Government will do the job of deciding the fate of your possessions.

  If someone dies intestate (without a Will) each State has its own laws governing what takes place and the general aim of these laws is to try and produce the same sort of result as if the deceased had made a Will.

  eg. in Victoria, if there are no children but a surviving spouse OR domestic partner, then the whole of the estate will pass to the spouse or the de facto.
  If the deceased had children and a surviving spouse, the spouse would receive the personal chattels and if the estate is valued less than $100,000, the spouse will get the remainder of the estate. If the estate is valued at over $100,000, the spouse will get $100,000 plus a third of the balance. The remaining two thirds will be divided between the children or in the event of their death their share will be divided amongst their children.

  So, it is obviously wise to make a Will, and even moreso the less vanilla your situation is, but I think some of the comments here may have left an incorrect impression of what occurs if you don’t.

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  katie1701 on 22/05/2011 - 19:17

  Love this, thanks. It's just so slooooow…. but it's free so I can't complain too much!

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  [Deactivated] on 22/05/2011 - 21:26

  I have just registered and completed about 20% of the will, is there a set amount of time I have to log on and complete the rest of it?

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    AssociatedCeilidh @ slatergordon.com.au on 22/05/2011 - 21:34

    Hi Prodigy,

    You definitely dont need to finish it tonight, as Katie1701 has pointed, the site is currently very slow due to the numbers of people currently doing there wills.

    As long as you register (which you have) you will have a month to finish your free will…so no rush.

    Cheers

    Steve

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      wisc on 23/05/2011 - 19:42

      +2

      hey, you origionally said 1 week from the 18th 1 week would be the 25th… that should be a legal loophole…

      guess theres not much chance of extending it for the week?

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        tinx on 24/05/2011 - 16:02

        same. only did mine. was going to do it today for my wife but it's expired -.-

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  mshanann on 23/05/2011 - 14:17

  Bummer hey .. looks like snooze you lose.

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  prankster on 26/05/2011 - 14:48

  am i too late now? :(

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