Helping Queenslanders since 1916

2010/11 Seminar program

Estate planning,Wills and legal

matters

Our Services

• established in 1916• self-funding, does not cost the taxpayer• 16 regional offices• networked throughout Queensland

- Outreach Services

- Queensland Government agents and the

- Clerk of the Courts

- also at some Centrelink Offices.

The Public Trustee services

• Will making – 100% free• Enduring Powers of Attorney and

Advance Health Directives• Administering Deceased Estates

(we charge a competitive fee not a percentage for this service)

• assisting people with disabilities to manage their finances

• auctions – cars and properties.

Attorneys

• Who can be an Attorney? - Financial matters

- When do the powers begin? - Personal/health matters

- When do the powers begin?

• How many Attorneys can you have?

Attorneys

• If more than one, how do they decide?

- jointly

- severally (any attorney can decide)

- majority (for example, two out of three)

- successively.

Formal requirements for appointing an Attorney

• Appointment - capacity

- understand the nature and effect

of decisions

- freely and voluntarily (without undue

influence)

- communicate decisions.

Formal requirements for appointing an attorney – the document

• The forms - short and long

- clauses

- commencement date

- substitution

- conflict of interest

- consultation

- accountability.

– Cost - $156 per person.

Priority for financial decisions

• Enduring Power of Attorney

• Queensland Civil and Administrative Tribunal appoints an Administrator.

Priority for health decisions

• Advance Health Directive

• Attorney appointed for personal decisions

• Statutory Health Attorney

• Adult Guardian

Wills• What is a Will?

• Who can make a Will?

• What is a valid Will?

• When should you make a Will?

• Do-it-yourself Wills.

Considerations in making your Will

• joint tenant/tenants in common

• investments and tax implications

• testamentary, discretionary, and

charitable trusts such as Queensland

Community Foundation (QCF)

• guardianship, contingency, legacy,

and bequest clauses.

How do you select an Executor?

• an Executor is personally liable

• trustworthy

• expertise

• reliability

• impartiality

• remuneration

Executor’s responsibilities

• locate and examine a will

• protect assets and invest the assets

• determine debts and tax liabilities

• legal requirements e.g. probate

Executor’s responsibilities (continued)

• deal with the ATO and Centrelink

• establish lawful beneficiaries

• establish trusts and pay legacies

• distribute assets to beneficiaries

• prepare final financial statement

• ongoing management e.g. trusts.

Advantages of The Public Trustee

• Free Wills and safe document storage

• Experienced, permanent, secure, and impartial

• Free Wills and competitive fees for Enduring Powers of Attorney

• Responsible and accountable