Standard Will & review super nomination & estate planning advice
$400per document
A standard Will is one that provides for standard estate distribution, that is:
- Initial: 100% to spouse if alive.
- If spouse not alive then:
- specific gifts to nominated beneficiaries, then
- 100% of residue shared equally between the children.
- If a child predeceases parents, then that child’s share of residue goes to their children (i.e. grandchildren), if any.
- 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 or 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