Should Accountants be Drafting Wills?

Accountants and Will drafting.

Should Accountants be Drafting Wills?

As an Accountant or Financial Planner what would you do if a client asked you to draft their Will?  Do you know the risks?

Whilst the temptation to be holistic in your services to a client is understandable, this blog will offer some guidance, and identify the pitfalls of engaging in a legal practice which could contravene the requirements under section 12 of the Legal Profession Act 2008 (“the Act”).

Lets start with "Only Legal Practitioners may engage in legal practice under the Act".

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PROPOSED CHANGES TO THE ADMINISTRATION ACT: What you need to know...

PROPOSED CHANGES TO THE ADMINISTRATION ACT:

WHAT YOU NEED TO KNOW

On 27 June 2018, the State Parliament heard the second reading of the Administration Amendment Bill 2018, which would increase the current amounts of the statutory legacies payable on Intestacy. The proposed changes will have a significant effect on what happens if a person dies without leaving a valid Will.

If you die without leaving a valid Will, your Estate will be distributed in accordance with the Administration Act 1903 (WA). This situation is called an “Intestacy”. The person who has died is then said to have died “Intestate”.

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