Estate Distribution Summary

• On your death your estate is distributed to your spouse (or de facto partner);

 

• If your Spouse predeceases you then on your death your estate is distributed to your nominated primary beneficiaries either in equal or unequal shares as per your chosen preference;

 

• If your Spouse and your nominated primary beneficiaries both predecease you, then your estate is distributed to any children of your nominated primary beneficiaries who are alive at the date of your death;

 

• If your Spouse, your nominated primary beneficiaries and their children predecease you, then your estate is distributed to the grandchildren of your nominated primary beneficiaries who are alive at the date of your death;

 

• If your Spouse and your nominated primary beneficiaries predecease you, with your nominated primary beneficiaries leaving no children, grandchildren or further direct descendants to inherit, then at your death your estate will be distributed to the persons named in your ‘back-up estate distribution’ plan.

 

• If you have nominated individuals or organisations to receive small financial gifts, these will be distributed on the death of the last of you and your Spouse.

​

• Every beneficiary, including the bloodline lineal descendants of beneficiaries (i.e. their children, grandchildren & so on), is provided with the option to inherit via their own testamentary trust that they personally control as trustee (unless they choose a third party trustee).  Testamentary trusts provide beneficiaries and their descendants with important tax minimisation opportunities and asset protection benefits. 

​

• Every Will Wizard customer receives three years free changes* to their nominations and preferences as standard.