Estate Planning


The will

Items not in a will

Items that aren’t distributed via a will include:

  • Interest in a property owned as a joint tenant. Often the family home is held in joint tenancy. The ownership reverts to the other joint owner on death.
  • Bank accounts held in joint names revert to the joint owner on death.
  • Insurance policy proceeds with another person or entity nominated as beneficiary or owned on your life by another person or entity.
  • Assets within a corporate structure. For example, if an individual drives a company car, the car is not owned by the individual. They can only include the shares of the company, which they personally own, in their Will.
  • Superannuation benefits, unless the member has elected to have their superannuation death benefits paid to their estate, or the trustee, under its discretionary powers, has decided to pay a death benefit to the estate.