Last Will And Testament Executor

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Last Will And Testament Executor Powered By Docstoc
					  Your Last Will
  and Testament
Information about the Public Trustee’s                       What are the fees?
Will drafting services and safe storage                      Will drafting fees are calculated based on whether the
in the WA Will Bank                                          Will is a simple or complex Will, and whether the Public
                                                             Trustee, or someone else, is named as the executor.
The Public Trustee provides quality will-drafting,
                                                             A specific set of criteria is used to determine whether
trustee and asset management services to all
                                                             the Will is a simple or complex Will. For example, a
Western Australians. We employ specialist solicitors,
                                                             complex Will may be one where a gift is being made to
accountants and taxation experts, genealogists,
                                                             an overseas organisation, there is provision for a family
investment and property managers, Wills officers and
                                                             trust to be continued or wound up or where the person
estate and trust managers who can help you or your
                                                             has an interest in a private company or a farm. Our
loved ones with:
                                                             Client Service Officers can inform you of the range of
• Wills and Will storage                                     criteria and help you determine whether you are likely
                                                             to have a simple or complex Will.
• Enduring Powers of Attorney
                                                             Simple Wills have fixed fees, while the preparation
• Deceased Estate Administration
                                                             of complex Wills is charged at an hourly rate and is
• Executor Assistance                                        subject to a minimum fee. Pensioners receive discounts
• Trustee services                                           on all fees.

Can the Public Trustee write my Will?                        Simple Will:
                                                                                  Public Trustee
Yes. As this is part of our core business, we are familiar                                            Private executor
                                                                                   as executor
with the many and sometimes complex issues that
can arise when deciding how to divide your estate.           Pensioner                  $40                 $308
The Public Trustee also prepares Enduring Powers of          Not a
                                                                                        $50                 $385
Attorney, which you may also wish to create when you         pensioner
have your Will written.                                      Couple
                                                             (at least one is a         $65                 $396
Wills nominating the Public Trustee as                       pensioner)

executor                                                     Couple                     $80                 $495
The Public Trustee drafts Wills that nominate the Public
Trustee as your executor. Our expert team of estate
managers provide a professional, reliable and impartial      Complex Will:
service when carrying out this important role .                                   Public Trustee
                                                                                                      Private executor
                                                                                   as executor
Private Wills
                                                             Pensioner            $148 per hour        $148 per hour
The Public Trustee also drafts Wills for people who                               (minimum fee $40)   (minimum fee $308)
nominate someone else, such as a family member or            Not a                $185 per hour        $185 per hour
friend, as their executor.                                   pensioner            (minimum fee $50)   (minimum fee $385)
In addition our Executor Assist service is also available    Couple               $148 per hour        $148 per hour
to help private executors with certain parts of their role   (at least one is a
                                                                                  (minimum fee $65)   (minimum fee $396)
such as obtaining the grant of probate. Telephone the
Public Trustee on 1300 746 116 to find out more about        Couple               $185 per hour        $185 per hour
executor services and Executor Assist.                       (non-pensioners)     (minimum fee $80)   (minimum fee $495)
 Your Last Will and Testament
 Note: To be treated as a couple,                  stored for added security. There is               management fee and may also
 the Wills need to be substantially                no charge for people who deposit                  include an annual residence and
 similar. At times, fees might be                  their own Wills in the WA Will                    property management fee. A
 charged in six minute units. Public               Bank, however, a fee may apply                    fee for the cessation of the trust
 Trustee as executor includes when                 when a third-party deposits a                     will also apply. These fees will be
 the Public Trustee is nominated as                Will on behalf of another person.                 further explained at your meeting.
 a substitute executor.                            While alive, only the testator or
                                                   their lawyer can retrieve the Will.
 What is the process?                              After death, only the executor                    When necessary, for example,
 Arrange an appointment by                         (or other authorised person) can                  when managing a trust set-up
 calling 1300 746 116. When you                    access the Will – a copy of the                   under a Will, the Public Trustee
 arrive for your appointment, one                  death certificate and approved                    may choose to place the trust’s
 of our Wills Officers will discuss                identification (or written legal                  funds in one of the four Public
 your wishes and provide advice                    authorisation) is required.                       Trustee Investment Funds as well
 on the best way to outline these in                                                                 as in the Common Account.
                                                   If you’d like to store your Will in the
 your Will. Please bring some photo                                                                  Management fees are applicable
                                                   WA Will Bank, please complete
 identification and a list of your                                                                   but these are deducted from the
                                                   the lodgement form (available on
 assets, as well as the full names,                                                                  funds before interest payments
                                                   our website or by calling 1300 746
 dates of birth and addresses of                                                                     are credited back to the trust’s
                                                   166) and bring it along with your
 your beneficiaries. At the meeting,                                                                 account. Individual fees are
                                                   original signed Will and two types
 you will be provided with an                                                                        not charged. Money held in the
                                                   of identification to the Public
 estimate of how much it will cost                                                                   Common Account earns interest
 to prepare your Will. It will then                                                                  calculated daily and is credited
 be prepared and retained by our                   Please note: The Public Trustee                   to the trust’s account on a twice-
 legal team.                                       will not check the content of                     yearly basis. The Public Trustee
                                                   Wills that are simply lodged in                   Investment Funds are sometimes
 After-hours appointments are
                                                   the WA Will Bank and that do not                  also called Strategic Investment
 available on the first Tuesday
                                                   name the Public Trustee as the                    Accounts and are strategic
 of every month. Our Wills team
                                                   executor, and therefore takes no                  common accounts under the
 also visits the Peel Community
                                                   responsibility for the Will’s validity            Public Trustee Act 1941.
 Legal Services centre every third
                                                   or interpretation. If you would like
 Friday. A mobile Wills service is
                                                   your Will checked or professionally
 available to visit people who live
                                                   written, you will need to make an
 within 50kms of the Perth CBD
                                                   appointment with one of our Wills
 and are house-bound. Translators
                                                   Officers. Standard Will drafting
 are available for non-English
                                                   fees will apply.
 speaking people and assistance
                                                                                                     Public Trustee
 can be provided for those with a                  Trusts
                                                                                                     565 Hay Street, Perth
 hearing impairment.
                                                   Your Will might specify that a trust              Western Australia 6000
 Where do I store my Will?                         be established (for example a                     Office hours: 8:30am – 4:15pm
                                                   trust that holds assets for a child               (Mon – Fri)
 The Public Trustee’s WA Will Bank                                                                   Postal Address GPO Box M946, Perth
                                                   or disabled beneficiary or gives
 is a free community service that                                                                    Western Australia 6843
                                                   a beneficiary a life tenancy in a
 keeps Western Australian Wills                                                                      Tel: 1300 746 116
                                                   property) and name the Public
 safe from loss, theft or damage.                                                                    Fax: (08) 9325 2663
                                                   Trustee as trustee of that trust.
 Original Wills are stored in a                                                            
                                                   Fees for acting as trustee of these
 purpose built, fire-proof, vault and                                                      
                                                   types of trusts include an annual
 also scanned and electronically
                                                   transaction fee, an annual asset

Fees and charges are subject to change from time to time without notice. Other fees and charges may also apply. For detailed information
regarding our fees, please refer to our Scale of Fees. The information contained in this brochure is to be used as a guide only. It has been
prepared without consideration of any specific client and does not constitute legal advice. To the maximum extent permitted by law, the Public
Trustee disclaims all liability and responsibility for any direct or indirect loss or damage that may be suffered by any reader through relying on
information contained in or omitted from this brochure.

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