Don't leave it too late!
Welcome to Acorn Lawyers first blog. Our blogs will offer great insight to the legal industry as well as keep you up to date with interesting current cases and opinion pieces.
Here is a short summary of case which highlights the importance of having an up to date and adequate Will.
We recently acted for an elderly couple who had been together for over 60 years, Violet and Henry. Henry had suffered a severe stroke and was in a Sydney Hospital. We conducted a review of Henry’s Public Trustee Will uncovered probate costs of about $38,000 (in comparison to the usual Supreme Court estimated scale costs of $9,000). The Will created capital protected trusts administered by the Public Trustee which would mean further ongoing administrative fees.
We took instructions for Violet’s Will and was provided with Henry’s instructions to prepare a Testamentary Trust Will for him consistent with his current Will. In the Acorn Lawyers tradition of “clients come first”, Lindsay left for Sydney at 5pm that evening. On arrival at the hospital, he found that Henry was ill but lucid. He gently took him through the will, explaining his old one and the draft Will. When he finished speaking his previously soft, but firm voice exclaimed; “That is exactly what I want!” He signed the Will and was enlivened with his family around him. Henry sadly passed away on Sunday night.
- Review your will and not at the last minute; and
- Use a lawyer providing timely service.