Question 1

Do I actually need a will if my spouse inherits everything anyway?

Accepted Answer

Yes. Without a will, the law decides who receives what, and it is often not what you assume, particularly in blended families or where children are involved. A will lets you decide, and lets you protect the inheritance rather than leaving it exposed.

Question 2

What happens if I die without a will in Australia?

Accepted Answer

Your estate is distributed by a fixed statutory formula that varies by state, not by your wishes. It can mean delays, extra cost, and outcomes you would not have chosen, such as a share passing to a relative you would not have provided for.

Question 3

What happens to my will if I marry or divorce?

Accepted Answer

Marriage generally cancels an earlier will, unless it was made in contemplation of that marriage. In most states, divorce cancels gifts to a former spouse and their appointment as executor, but does not revoke the whole will. Either event is a reason to review it.

Question 4

Can someone challenge my will?

Accepted Answer

Certain people, usually a spouse, former spouse, child or dependant, can make a family provision claim if they feel they were not adequately provided for. No one can absolutely prevent a claim, but careful drafting and, where needed, a documented rationale can reduce the risk and cost.

Question 5

Does my will cover my superannuation?

Accepted Answer

Not automatically. Super is held in a fund and sits outside your estate, and unless you have a valid binding death benefit nomination, the fund trustee decides who receives it. It needs to be planned alongside your will, not assumed to be part of it.

Question 6

Who should I appoint as my executor?

Accepted Answer

Someone trustworthy, organised and willing to take it on. It can be a family member, a beneficiary, or a professional where the estate is complex or the family dynamics are difficult. The right choice depends on the estate as much as the person.

Question 7

Do I need an enduring power of attorney as well as a will?

Accepted Answer

Usually yes. A will takes effect when you die. An enduring power of attorney covers decisions while you are alive if you lose capacity. Most complete estate plans include both.

Question 8

Can I leave money to charity in my will, and is it tax-effective?

Accepted Answer

Yes. You can leave money, property or other assets to charity in your will. While a gift made on death is not income tax deductible in the way a lifetime donation may be, gifts to eligible charities are generally received free of tax and can, in some circumstances, deliver capital gains tax advantages.

For those wishing to create a lasting charitable legacy, there are a range of options beyond a direct bequest. These include establishing a charitable trust through your will or directing assets to an ancillary fund, which can enable future generations to continue supporting causes that matter to your family.

Question 9

Are there death duties or taxes payable by my estate?

Accepted Answer

Australia does not currently have a death duty or inheritance tax. However, that does not mean there are no tax consequences when someone dies.

Depending on the assets you own and who inherits them, your estate or beneficiaries may face capital gains tax, tax on superannuation death benefits, or other tax liabilities. In some cases, the difference between a well-structured estate plan and a poorly structured one can amount to hundreds of thousands of dollars in additional tax, and for larger estates, significantly more.

For example, the tax outcome can vary depending on who inherits your superannuation, whether assets are held personally or through a trust, and how your estate is structured.

A well-considered estate plan can help minimise unnecessary tax, protect more of your wealth for your family and chosen beneficiaries, and avoid unintended consequences. Estate planning is about more than preparing a will. It also involves reviewing superannuation, trusts, company structures and the way assets are owned and transferred.

Question 10

How often should I review my will?

Accepted Answer

Every three to five years, and whenever something significant changes: a marriage, separation, birth, death, a business sale, or a move interstate or overseas. An out-of-date will can be as much of a problem as no will at all.

Question 11

What is a testamentary trust, in one line?

Accepted Answer

A trust created by your will that holds a beneficiary's inheritance for them, so it is protected from risks such as divorce and creditors and can be far more tax-effective. There is a full guide on this above.

Question 12

Do you only work with wealthy families?

Accepted Answer

No. The families we work with range widely. The value is in protection and tax efficiency and getting the structure right, which matters well beyond the size of the estate.

Question 13

Where do you practise, and can we do this remotely?

Accepted Answer

We have offices at 39 Martin Place, Sydney and 55 Collins Street, Melbourne, and advise families across Australia. Meetings can be in person or by video, whichever suits you.

Question 14

How do I get started, and what does it cost?

Accepted Answer

It starts with a short introductory call, with nothing to prepare. Engagements are then fixed-fee and agreed at the outset, so there are no hourly surprises.

Estate planning, explained in plain English.

How do you protect your children's inheritance from a divorce?

Will your family pay tax on your superannuation when you die?

What is a testamentary trust will, and is it right for your family?

Testamentary trusts and the 30% minimum trust tax: what it means for your will