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Standard and Non-Standard Wills

Standard Will

A standard Will is one that provides for standard estate distribution, that is;

  • 1. Initial: 100% to spouse/partner if alive
  • 2. If spouse/partner not alive then (A) Specific gifts to nominated beneficiaries, then (B) 100% of residue shared equally between the children
  • 3. If a child predeceases parents then that child’s share of residue goes to their children (i.e.; grandchildren), if any.
  • 4. If no children or grandchildren then for example to siblings and siblings-in-law equally (or their children if beneficiary predecease will makers).

If there is no surviving spouse/partner then second, third and fourth distributions apply.

  • everything that you own at the date of your death
  • to whom you have left a share of your estate
  • everything left over after payment of your debts and expenses

Non-standard Will

  • Non-standard distributions, and/or
  • Clauses drafted to address particular circumstances such as (for example only)
  • Blended families,
  • Control of trust structures,
  • Ownership of company structures,
  • Ownership of business interests,
  • Ownership of a SMSF,
  • Dealing with interfamily loans,
  • Life estates

A testamentary trust can also be included to provide maximum flexibility and allow for tax-effective distribution of capital and income as well as providing possible protection of your beneficiaries from third parties such as creditors

Call the experienced team at GMH Legal to assist you in your matter. A free consultation with GMH Legal is an opportunity to gain deep insights into your legal situation and all of your options.

Why Choose GMH Legal?

  • Over 60 years of combined legal experience
  • Outstanding track record with a winning approach
  • First appointment is always free
  • Meet our team now.

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