with No Comments

Estate Planning Is Not Just About Your Will

Preparing a Will is one of the most common ways of transferring assets after someone dies.


A will is an important component of any estate plan, however it is unlikely to be the only transfer mechanism of assets when a person dies.


Wills govern the assets from a deceased’s estate and allows the deceased’s intentions to be enacted.


Many Australians will have assets that may not form part of their estate if they died. For example

  • Assets owned as joint tenants (for example, often the family home)
  • Life insurance proceeds (here someone else is the policy owner or nominated beneficiary)
  • Superannuation death benefits
  • Company assets
  • Assets owned within a family discretionary trust


Assets that are administered by a Will include

  • All personally owned assets such as shares in a company
  • Investment assets including assets held as tenants in common
  • Assets that are pain to the estate by a trustee of a superannuation fund
  • A right owned under a contract
  • An entitlement under a loan arrangement

Leave a Reply