Good People, Good Will
Making a Will has never been easier. Complete our simple online form, and a legally sound Will will be sent through to us. All Wills are prepared under the supervision of a qualified solicitor at MLS LEGAL, ensuring your wishes are properly documented and secure.
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Terminology
What is an Executor?
An Executor is the individual or professional you appoint in your Will to carry out your final wishes and manage your estate once you pass away.
What does an Executor do?
Their role includes locating and safeguarding your assets, paying any debts or expenses owed by the estate, and then distributing what remains to the beneficiaries in line with your Will. Executors are also responsible for handling tax requirements and taking care of the legal and financial paperwork involved in the process. You can appoint up to three Executors to act on your behalf. If you’d like, you can also nominate alternate Executors (up to three for each appointment) in case your first choice is unable or unwilling to act.
Beneficiaries
Choosing beneficiaries in your Will
Your estate is everything you own when you pass away, such as property, bank accounts,investments, vehicles and personal items.
After debts, expenses and any specific gifts are dealt with, the remainder is your residual estate. You can divide this between your chosen beneficiaries (people or charities) in whatever percentages you decide, as long as they add up to 100%.
Superannuation isn’t automatically part of your estate. To control who receives it, you’ll need to make a nomination with your super fund or direct it into your estate through your Executor. If you’d like, you can also leave specific gifts (like jewellery, money or a car) before dividing the remainder.
Where a beneficiary is under 18, their share is usually held in Trust until they come of age, with their guardian able to request funds for their care if needed.
Guardians for Minor Children
Nominating Guardians
If you have children under 18, you can appoint one or two guardians to care for them. Only include children you are the legal parent or guardian of. Stepchildren should only be listed if you have legally adopted them.
Special Bequests
Gifts
If you wish, you may leave specific gifts to family, friends or a charity. A gift (also called a bequest) can be a sum of money, a particular asset, or personal items such as a vehicle, jewellery, artwork, or shares. These gifts are distributed from your estate before the balance is divided among your nominated beneficiaries.
Funeral
Funeral and Burial Wishes
You may record your preferences for how your body is to be treated after your passing, such as burial, cremation, or another arrangement. These wishes will guide your Executor, but please note they are not legally binding.
Good People, Doing Good Things With Their Will
