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What is a simple Will?

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Our Wills on the spot service is for the preparation of your simple Will. Under a simple Will you would typically leave the whole of your estate to your spouse or partner if he or she survives you. If your spouse does not survive you, you would generally provide that your estate is divided equally among those of your children who survive you and attain a specified age, say 18 years. You may make provision that if any of your children die before you, the share they would otherwise have taken would be divided equally between their children (i.e. your grandchildren).

If you do not have any children you may provide that your estate be divided in certain proportions among other friends or family members.

A simple Will does not include provision for complex substitution clauses, long lists of gifts or establishing testamentary trusts.

We cannot prepare a simple Will if any of the following apply:

  • you have an interest in a family company, family trust, business, partnership or a self-managed superannuation fund
  • blended families – you or your partner have children from other relationships
  • long lists of gifts or gifts to charity
  • large assets pools or complex family affairs
  • you wish to give your property away with conditions attached – for example rights to purchase or life estate interest
  • you wish to create testamentary trusts or protective trusts
  • you own real estate overseas
  • you wish to make mutual wills – a binding promise not to change your will
  • you have identified the possibility of your Will being challenged
  • you do not understand the English language or are unable to sign your name.

In those more complex circumstances, your consultation will be an Estate Planning Consultation and we will give you a quote for preparing your Will following your consultation.

 

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