Sanandduds Posted March 6, 2015 Report Share Posted March 6, 2015 Hi thereWe have recently updated our Wills here in South Africa. We leave for Australia mid June on a 489 visa which has no PR status so until such time we are fortunate to be granted PR we have decided to keep some investments going in SA. For those of you currently in Aus, what would you advise regarding a will in Aus...Is it possible to hold a will in SA and one in Aus? 1 Quote Link to comment Share on other sites More sharing options...
Tiermelk Posted March 7, 2015 Report Share Posted March 7, 2015 Hi - have a look at this topic. http://www.saaustralia.org/index.php/topic/42748-will-policies-etc-etc/ Quote Link to comment Share on other sites More sharing options...
AFreshStart Posted March 7, 2015 Report Share Posted March 7, 2015 Yes, get an Australian will if you want it executed here. Otherwise it will be executed in South Africa, which will delay things here if you have family etc. Not sure if you can hold 2 wills in different countries, my understanding is that they will will revert to the latest version, being your LAST will and testament, so the most recent copy.Be warned it isn't cheap, it cost us $2,000 to have it drawn up, 4-5 pages, ouch. But we know our kids are covered and where our money will be paid out in the case of our death and who will take care of our kids etc, which brings us peace of mind.CheersMatt 1 Quote Link to comment Share on other sites More sharing options...
Mara Posted March 8, 2015 Report Share Posted March 8, 2015 When we enquired about our wills in Australia we were told the following:-Our wills are based in New Zealand and drawn up by our son's law firm. They are valid, but only because we are dual citizens. We do not have an Australian will, but do have an enduring power of attorney, issued to our son. We were told that this was a necessity for him so that he could act on our behalf in Australia.At the time we were also told that only one will can be valid, of course, it being the latest will. This will would have to deal with assets, wherever they may be based in the world.Not sure if this helps anyone. Quote Link to comment Share on other sites More sharing options...
Sanandduds Posted March 8, 2015 Author Report Share Posted March 8, 2015 Thank you all for the feedback.... Quote Link to comment Share on other sites More sharing options...
Tiermelk Posted March 9, 2015 Report Share Posted March 9, 2015 These articles might shed more light on the matter...Expat wills:http://www.moveoneinc.com/blog/videos/enwhy-expats/http://www.pomsinoz.com/forum/money-finance/210027-making-australian-will-foreign-assets.htmlAustralian wills:https://www.moneysmart.gov.au/life-events-and-you/over-55s/wills-and-power-of-attorney Quote Link to comment Share on other sites More sharing options...
Tiermelk Posted March 25, 2015 Report Share Posted March 25, 2015 I found some more info on this topic..."There are two key reasons why ex-South Africans should get an Australian Will. The first key reason is to avoid unnecessary delays when obtaining a Grant of Probate in Australia and a Letters of Executorship in South Africa.The second reason to get an Australian Will relates to Estate Duty requirements payable in South Africa. A simple solution to deal with the two key issues is for the ex-South African to get an Australian Will to deal with their Australian assets and also a South African Will that deals only with their South African assets. However, a word of caution, if the Wills are not drafted properly, the later Will could nullify the other one."http://www.sbtlegal.com.au/why-ex-south-africans-with-minor-children-need-to-think-about-guardianship-in-their-wills-for-their-children/http://www.sbtlegal.com.au/why-ex-south-africans-need-an-australian-will/ Quote Link to comment Share on other sites More sharing options...
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