Standard Will

A standard Will is one that provides for standard estate distribution, that is;

1. Initial: 100% to spouse/partner if alive.

2. If spouse/partner not alive then.

• Specific gifts to nominated beneficiaries, then
• 100% of residue shared equally between the children.

3. If a child predeceases parents then that child’s share of residue goes to their children (i.e.; grandchildren), if any.

4. If no children or grandchildren then for example to siblings and siblings-in-law equally (or their children if beneficiary predecease will makers). If there is no surviving spouse/partner then second, third and fourth distributions apply.

• Estate: everything that you own at the date of your death;
• Beneficiary: to whom you have left a share of your estate;
• Residue: everything left over after payment of your debts and expenses.

Non-standard Will

A standard Will Plus

• Non-standard distributions; and/or  
• Clauses drafted to address particular circumstances;
• Blended families;
• Control of trust structures;
• Ownership of company structures;
• Ownership of business interests;
• Ownership of a SMSF;
• Dealing with interfamily loans;
• Life estates.

Testamentary Trust Wills

A testamentary trust is designed to provide maximum flexibility and allow for tax-effective distribution of capital and income as well as providing possible protection of your beneficiaries from third parties such as creditors. See Testamentary Trust Wills.