Estate Distribution Summary

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

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• If your spouse predeceases you then on your death your estate is distributed to your children either in equal or unequal shares as per your chosen preference;

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• If your spouse and your children both predecease you then on your death your estate is distributed to any grandchildren you may have at the date of your death;

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• If your spouse, children and grandchildren predecease you then on your death your estate is distributed to any great grandchildren you may have at the date of your death;

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• If you do not have any direct descendants alive at the date of your death then your estate is distributed to the persons you name in your ‘back-up estate distribution’ plan.

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• 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.

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• 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. 

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