Before You Die - A guide to writing or revising your Will
This article was written as part of the content for my Clarity for Life Module 2 Prepare for Change.
Disclaimer : The information in this article is not intended as a substitute for the legal advice of lawyers and does not claim to offer official legal advice. Rather, it is meant to help clarify and supplement legal knowledge for your end-of-life health requirements, drafting your Will, planning your funeral, and administering your estate.
While it is true that you can legally write your own Will and organise your own funeral, you are nevertheless advised to seek professional assistance, particularly if your situation is complex.
Although this article focusses on the law in NSW, Australia, much of it will be relevant for your state and country. A thorough internet or library search, and discussions with your solicitor, the Public Trustee and funeral director will highlight essentials for a thorough preparation of both your Will and binding funeral arrangements. - Cedar Rivers
While it is true that you can legally write your own Will and organise your own funeral, you are nevertheless advised to seek professional assistance, particularly if your situation is complex.
Although this article focusses on the law in NSW, Australia, much of it will be relevant for your state and country. A thorough internet or library search, and discussions with your solicitor, the Public Trustee and funeral director will highlight essentials for a thorough preparation of both your Will and binding funeral arrangements. - Cedar Rivers
Your Will and Estate
Do you have a Will? Would you believe that more than 50% of adults in Australia, the USA, and Britain do not have a valid Will? So what's stopping them? The reasons cited for not making a Will are procrastination, apathy, a belief that they don't need one, perceived cost, or it simply never occurred to them.
Dying without leaving a Will may cause complications, arguments, delays and extra costs for those you leave behind. You only need to talk with others whose deceased partners left no Will, or an ill-conceived or incomplete Will, to understand the heartache and tragedy this can cause.
Dying without a valid Will is called dying 'intestate' and means that the assets in your estate may not go to those you'd like them to, as the government will distribute them according to a pre-determined formula. Being intestate may even reduce the estate's value to your loved ones and indeed pass to the government after debts and funeral expenses have been paid from your assets. If you die intestate in Australia and don't have any relatives closer than a first cousin, your estate will go to the government.
If you are 18 or over and have the mental capacity, it is advisable to write your Will without delay. You are urged to complete it as soon as possible. Start brainstorming your wishes in writing today!
Making a Will is essential for everybody, whether you own property and have funds and belongings or not. A good idea is to use the free Will making service of either the Public Trustee or Legal Aid. The NSW Trustee and Guardian do not charge a fee to make or update a Will. Upon your death, fees will apply when they administer it according to your wishes written in your Last Will and Testament.
The costs of solicitors’ fees vary depending on the complexity, so it’s good to shop around.
If your situation is complex, it is recommended you seek professional assistance from a solicitor to ensure your Will is handled properly. You may wish for example, to create a testamentary trust to be effective only after your death.
It will be useful to take your completed checklist (found below), and exercise and address book with your details and brainstorming to save time and money.
A Power of Attorney enables you to give your attorney the legal authority to look after your financial affairs for you.
An Enduring Guardian is the person you appoint to make health, lifestyle and medical decisions for you when you are not capable of doing this for yourself.
Carer - As a carer you may have to make legal, financial, medical or lifestyle decisions on behalf of the person you care for. Appointing a power of attorney can make difficult choices easier for you, the person you care for, and the rest of your family.
An Advance Care Directive (known also as a Living Will) sets out your directions, wishes and values that you wish to be considered before medical decisions are made on your behalf. Forms available from Dying with Dignity
Example: ‘This form details my treatment choices if and when I am too sick to make my own choices and I hope my doctors, nurses and family are able to abide by them. It keeps me in control of my life and may relieve my family and carers of having to make difficult decisions on my behalf. At the time of writing I am of sound mind and understand the implications of this document. If I have declined a treatment, I am fully aware that it may shorten my life and I choose these options because I do not want it to be prolonged by medical intervention. If my choices cause me pain or distress I request strong painkillers, sedatives and similar palliative treatment to help relieve my symptoms.’
Conversation Starters
10/10 people die.
How can you best prepare your end-of-life choices?
Are you and your loved ones all prepared for your deaths?
It is useful to contemplate your feelings about death and dying privately so you are be well-prepared before talking with loved ones, legal advisors and the funeral director. You may choose to have some sessions with a counsellor, psychiatrist, doctor, carer, or death doula. It is a emotive subject so it’s important not to be in denial or afraid to discuss all the issues openly and with confidence.
Studies reveal that the fear of death (thanatophobia) often comes after the fears of public speaking; insects, bugs and rodents; heights; financial problems; the dark; flying; and intimacy. The fear of death may be broken down into sub-fears including the fear of pain or suffering; fear of the unknown; fear of non-existence; fear of eternal punishment; and fear of what will become of loved ones.
Establishing a compassionate environment for candid conversations will make everyone more relaxed, thus making important decisions easier to make. It’s essential to remember at all times that it’s a delicate subject that needs to be treated with sensitivity, as there may be continued unwillingness to discuss it, extreme emotion, and even tears.
Have frequent discussions with your benefactors so there are no surprises for them after your departure. It’s not fair to leave this solely in the hands of the executor/executrix of your Will. Be prepared for the awkwardness and discomfort which may be intense for some time until everyone gets comfortable with talking about the subject.
Please consider being open to talking a lot and often about your death, making your exact wishes known, sharing honestly, and in creating a safe listening space for others to express themselves without anxiety.
◻ Discuss your personal experiences of death and bereavement.
◻ Brainstorm and itemise all personal and joint assets - property, insurances, possessions and their approximate values.
◻ Brainstorm and itemise all debt - loans, mortgages, credit cards, goods, and services.
◻ Discuss the location and amounts of retirement income such as superannuation and investments. Do any of these income streams need consolidating or updating?
◻ Are important documents current, and where are they and their copies kept?
◻ Who will be the beneficiaries of your estate and why?
◻ Discuss the specifics of your Will with your executor or executrix.
◻ Consider giving a generous financial payment to your executor or executrix.
◻ Discuss whether you will enrol the Public Trustee, Legal Aid, or your solicitor to help make your Will - or will you write it yourself with the aid of a form from the newsagent or downloaded from the internet?
◻ Consider responsible plans for your spouse, children, and grandchildren.
◻ How will you take care of your pets and other animals in your Will?
◻ Deal with sponsorships of local or overseas child, orphanages, school, charities or projects.
◻ Who would you like contacted when you die?
Dying without leaving a Will may cause complications, arguments, delays and extra costs for those you leave behind. You only need to talk with others whose deceased partners left no Will, or an ill-conceived or incomplete Will, to understand the heartache and tragedy this can cause.
Dying without a valid Will is called dying 'intestate' and means that the assets in your estate may not go to those you'd like them to, as the government will distribute them according to a pre-determined formula. Being intestate may even reduce the estate's value to your loved ones and indeed pass to the government after debts and funeral expenses have been paid from your assets. If you die intestate in Australia and don't have any relatives closer than a first cousin, your estate will go to the government.
If you are 18 or over and have the mental capacity, it is advisable to write your Will without delay. You are urged to complete it as soon as possible. Start brainstorming your wishes in writing today!
Making a Will is essential for everybody, whether you own property and have funds and belongings or not. A good idea is to use the free Will making service of either the Public Trustee or Legal Aid. The NSW Trustee and Guardian do not charge a fee to make or update a Will. Upon your death, fees will apply when they administer it according to your wishes written in your Last Will and Testament.
The costs of solicitors’ fees vary depending on the complexity, so it’s good to shop around.
If your situation is complex, it is recommended you seek professional assistance from a solicitor to ensure your Will is handled properly. You may wish for example, to create a testamentary trust to be effective only after your death.
It will be useful to take your completed checklist (found below), and exercise and address book with your details and brainstorming to save time and money.
A Power of Attorney enables you to give your attorney the legal authority to look after your financial affairs for you.
An Enduring Guardian is the person you appoint to make health, lifestyle and medical decisions for you when you are not capable of doing this for yourself.
Carer - As a carer you may have to make legal, financial, medical or lifestyle decisions on behalf of the person you care for. Appointing a power of attorney can make difficult choices easier for you, the person you care for, and the rest of your family.
An Advance Care Directive (known also as a Living Will) sets out your directions, wishes and values that you wish to be considered before medical decisions are made on your behalf. Forms available from Dying with Dignity
Example: ‘This form details my treatment choices if and when I am too sick to make my own choices and I hope my doctors, nurses and family are able to abide by them. It keeps me in control of my life and may relieve my family and carers of having to make difficult decisions on my behalf. At the time of writing I am of sound mind and understand the implications of this document. If I have declined a treatment, I am fully aware that it may shorten my life and I choose these options because I do not want it to be prolonged by medical intervention. If my choices cause me pain or distress I request strong painkillers, sedatives and similar palliative treatment to help relieve my symptoms.’
Conversation Starters
10/10 people die.
How can you best prepare your end-of-life choices?
Are you and your loved ones all prepared for your deaths?
It is useful to contemplate your feelings about death and dying privately so you are be well-prepared before talking with loved ones, legal advisors and the funeral director. You may choose to have some sessions with a counsellor, psychiatrist, doctor, carer, or death doula. It is a emotive subject so it’s important not to be in denial or afraid to discuss all the issues openly and with confidence.
Studies reveal that the fear of death (thanatophobia) often comes after the fears of public speaking; insects, bugs and rodents; heights; financial problems; the dark; flying; and intimacy. The fear of death may be broken down into sub-fears including the fear of pain or suffering; fear of the unknown; fear of non-existence; fear of eternal punishment; and fear of what will become of loved ones.
Establishing a compassionate environment for candid conversations will make everyone more relaxed, thus making important decisions easier to make. It’s essential to remember at all times that it’s a delicate subject that needs to be treated with sensitivity, as there may be continued unwillingness to discuss it, extreme emotion, and even tears.
Have frequent discussions with your benefactors so there are no surprises for them after your departure. It’s not fair to leave this solely in the hands of the executor/executrix of your Will. Be prepared for the awkwardness and discomfort which may be intense for some time until everyone gets comfortable with talking about the subject.
Please consider being open to talking a lot and often about your death, making your exact wishes known, sharing honestly, and in creating a safe listening space for others to express themselves without anxiety.
◻ Discuss your personal experiences of death and bereavement.
◻ Brainstorm and itemise all personal and joint assets - property, insurances, possessions and their approximate values.
◻ Brainstorm and itemise all debt - loans, mortgages, credit cards, goods, and services.
◻ Discuss the location and amounts of retirement income such as superannuation and investments. Do any of these income streams need consolidating or updating?
◻ Are important documents current, and where are they and their copies kept?
◻ Who will be the beneficiaries of your estate and why?
◻ Discuss the specifics of your Will with your executor or executrix.
◻ Consider giving a generous financial payment to your executor or executrix.
◻ Discuss whether you will enrol the Public Trustee, Legal Aid, or your solicitor to help make your Will - or will you write it yourself with the aid of a form from the newsagent or downloaded from the internet?
◻ Consider responsible plans for your spouse, children, and grandchildren.
◻ How will you take care of your pets and other animals in your Will?
◻ Deal with sponsorships of local or overseas child, orphanages, school, charities or projects.
◻ Who would you like contacted when you die?
Consider the difficulties of administering your estate if you die without preparing a Will. Who would this administration fall to?
Things to Consider When Making Your Will
Beneficiaries
Beneficiaries are those people or entities that you leave your property, finances and belongings to. Some common beneficiaries include your spouse, children and grandchildren, parents, other relatives, friends, employees, charities, pets, and organisations such as environmental or scientific institutions, churches and universities. Be sure to include complete details so they may be easily located.
Charity Gifts
Leaving a gift or ‘bequest’ in your Will to a charity is an effective way of expressing your support for a cause that is important to you. You may choose to leave a residual bequest, a percentage of your estate, a specific sum of money, a gift of property, or shares. Your charity or charities need to be correctly described so it’s important to get legal advice to make sure this is done correctly and that your loved ones have been properly looked after.
Children
If your children are under 18, decide who you want to raise them in the event of your death and their other parent can't. Consider children from current and prior relationships and explore all options for special needs children.
This is important whether as a single parent or a couple if something unexpected happens to you and your partner such as dying simultaneously, rather than leaving the decision to the courts or social services. Also choose someone who can manage your children's property that they may inherit from you.
After in-depth consultations with the proposed person/s for guardian/s for your children, officially appoint them in your Will and specify the financial assistance you intend leaving.
Codicil
It is also important that your intentions are expressed clearly in writing to reduce the chance of any argument over who you want to receive your specific belongings. You cannot cross out or initial any changes, though you can make a ‘codicil’ which is a separate document in which you make a change to your Will. The codicil needs to be signed and witnessed in the same way as when you made your Will.
A review of your Will every few years is recommended and certainly after any major life-changing event. It is usually best to just make a completely new Will.
Death Certificate
When someone dies, a doctor signs a certificate that confirms the death. Funeral arrangements cannot be completed until the doctor has signed and issued a Doctor’s Certificate of Cause of Death.
The Registrar at NSW Birth, Deaths and Marriages needs to be notified of the death within 7 days. This is usually done by the funeral director, the relevant medical practitioner, or next of kin or relative of the deceased.
In some cases a death may be referred to the Coroner for confirmation of the cause of death. If the Coroner's investigation takes some time, the Registry can issue an interim death certificate. This certificate can be used to begin settlement of the deceased's estate.
Debt
What happens to your debts or liabilities after you die? The executor will sort through the deceased’s papers and statements, and make a list of everything owed. Whether or not these debts will have to be paid from the deceased's funds or assets will usually depend on whether the debts were owed by the deceased and another person jointly.
Check whether there is any insurance to pay off the debt such as a mortgage. Explain your situation to the lender and if necessary, you might be able to renegotiate the repayments or temporarily freeze the interest.
Is there a Binding Financial Agreement with a present, de-facto or former spouse? Although your personal debt is usually yours alone, when your estate is settled after death, any remaining debts owed are paid from the value of your estate. Generally speaking, creditors come before your beneficiaries. However, you’ll need to research this as there are certain variables, particularly if another person has co-signed a loan with you, or jointly shares credit card debt.
Digital Estate
Think carefully how you’d like your Digital Estate to be administered after your death. Your survivors may not be aware of the extent of your digital presence.
You may appoint a Digital Executor to be responsible for managing your digital assets after you die, paying any debts or maintenance fees on behalf of your Digital Estate, and making sure that your digital assets are distributed to the people you want, in the way you want.
You may wish to write a personal message to your readership for example on Facebook and Twitter that your Digital Executor will post after your death if you give them access. Most popular online services have developed deceased-user policies, which provide the family or executor of the deceased user with information about what's required to access the account.
Assign beneficiaries to other digital assets such as computers, external hard drives or flash drives, tablets, smartphones, digital music players, e-readers, and digital cameras.
Digital Assets
List all accounts, addresses, email addresses and passwords in your exercise book.
Audio devices and accessories such as headphones and microphone
Bank and Credit Card Accounts
Blog and Website Domain Names
Digital Executor is the person to administer your internet/online presence after you die.
eBay account
e-books
Email Accounts — Gmail, Hotmail, Yahoo etc
Facebook
Instagram
Intellectual property, including copyrighted materials, trademarks, and any code you may have written and own.
LinkedIn
Loyalty programs with credit card, airline, car rental, hotel
Online savings bonds, financial organisations
PayPal account
Personals Profile sites
Photo albums
Personal ebooks and ePublishers
Pinterest
Shopping Accounts
Transfer and redeem frequent flyer points in Airline Accounts
Video Gaming Accounts
YouTube
Link to How to Create a Digital Estate
Donating the Organs of Your Body
Organ donors need to register with the Australian Organ Donor Register. This is a straightforward procedure and may be done by using an online form or by phone. Example statement: ‘I wish to be an organ donor and have registered and organised use of my organs after death.’
Donation of Your Body
Body donation to a Medical or Science University needs to be registered and prearranged before death. If this is your wish, clearly state it in your Will and make sure your medical carers have knowledge of the details.
Estate
After your death your property and belongings are referred to as your estate.
Executor/Executrix
The person or persons named in a decedent's Will to carry out the provisions of that Will that usually involves:
Locating the Will
Arranging the funeral
Applying for probate
Obtaining a death certificate
Informing investment bodies of the death such banks, building societies, and share registries
Informing Centrelink and other government bodies, such as medicare and the ATO - Australian Taxation Office
Locating assets and having their value assessed
Paying debts, income tax and funeral expenses
Transferring assets and paying stamp duty
Distributing the surplus to beneficiaries
Funeral Costs
Do you want to arrange and pay for your funeral and wake in advance? You may have a Funeral Plan or have privately put aside funds for this purpose. Funeral arrangements need to be made separately as the reading and implementation of the Will usually takes place after the funeral.
Joint Ownership of Property and Other Assets
In Australia, people are required to make individual Wills. If you're married or in a domestic partnership, and regardless of sexual orientation, each spouse needs to make a separate Will. Do this yourself. Do not leave it to your partner to do it for you.
Domestic partnership means a de-facto partnership of at least 2 years, or one that has resulted in the birth of a child. A domestic partner may be someone of the same or opposite sex.
Joint Tenancy and Tenancy-in-Common
When a joint tenant dies, their share in the asset is terminated and they cannot pass the asset to their estate. The surviving owner becomes the sole owner. The most common type of asset held in joint tenancy is the family home.
When a tenant-in-common dies, their share passes to their deceased estate and the executor deals with that share in the assets. In the case of real estate, the title deed usually specifies the type of co-ownership.
Insurance Policies
Your Life Insurance Policy will pay a sum of money known as a death benefit to your beneficiary or estate. It’s a good idea to check with the company for your best procedure. Also check if there are any proceeds outstanding from a compensation claim.
Document all your insurances including life and accidental death policies, together with the policy numbers, named beneficiaries, and name and address of the insurance company. Be sure to keep them in a safe place.
Litigation
Can your Will be challenged?
Making a clear, fair and legal Will helps ensure that any arguments, litigation, lawyers and courts are avoided. Ensure why anyone who is left out is explained clearly in the Will. Taking responsibility in preparing your Will to final completion, with codicils when the need arises, will ensure that your loved ones will not be subjected to months or perhaps even years of conflict and legal hassles.
Pets and Other Animals
Pets may be considered to be part of the family, so make sure they are well taken care of. You may protect your pets by leaving a sum of money to the person or charity that will be caring for your animals. Also consider other farm or wild animals in your care.
Probate
Probate is a document issued by the court certifying the Will's validity and confirming the appointment of an Executor to administer the deceased estate. It is the process of proving and registering in the Supreme Court the last Will of a deceased person.
Review Regularly
Remember to renew your Will to revoke all previous Wills as your situation changes such as:
- a marriage or divorce
- gaining new assets
- changing allegiances
- acquiring assets in multiple states or countries
Superannuation
Ensure your superannuation details are current and recorded to achieve the optimal financial result for your dependants. The death benefit is paid from the super plan and is generally the amount of your super plus any death cover benefit held by the plan, less any tax payable.
Taxation
Notification of the deceased person’s death certificate needs to be lodged with the tax office.
Notification forms can be found online or at your Post Office.
Trusts
Trusts are established for a number of reasons, for example, to provide on-going support for a beneficiary under your Will or to provide tax effective estate planning or to benefit a charity. In such cases you will need to appoint a suitable trustee/s. In the event that a minor (child, grandchild, great-grandchild, niece or nephew) inherits a share of your estate, who will you appoint as trustee of that minor's share?
Will
A Will is a legal document that sets out directions for the administration and disposal of a person's property after their death. Research resources can be studied in relevant organisations on the Internet and in libraries.
Writing Your Own Will
You may write your own Will particularly if your situation is straightforward, as long as you ensure it’s legally viable. Beneficiaries or the spouse of a beneficiary cannot be witnesses as it may cancel out their entitlement.
It may be handwritten, typed or printed either on paper or using a Last Will and Testament form available at newsagencies and post offices, or accessed and downloaded from the internet.
Sample Will
Print two copies of the original that has been signed and dated by yourself and two witnesses.
Making a Will is important for everybody whether you own property and have funds and belongings or not. A good idea is to use the free Will-making service of either the Public Trustee or Legal Aid. The NSW Trustee and Guardian does not charge a fee to make or update a Will. Upon your death, fees will apply when they administer it according to your wishes written in your Last Will and Testament.
Legal Aid
Public Trustee
The cost of solicitors’ fees vary depending on the complexity, so its prudent to shop around. If your situation is complex, it is recommended that you seek professional assistance from a solicitor to ensure your Will is handled properly. You may wish for example, to create a testamentary trust to be effective only after your death.
STORE SAFELY and tell your executor and co-executor if you have one, where it may be located such as at your solicitor’s, in a safety deposit box in a bank, or in a safe place at home. It is a good idea to keep a signed copy with your personal papers, with a note explaining where the original is. Write all location details in your Contacts Book.
The following Checklist will assist in clarifying and itemising details of your assets and where you’d like them to go. Imagine the challenges for grieving loved ones if you have procrastinated and not made the effort to state in a legal document whom you’d like to receive all your property and belongings. Depending on the complexity of your estate a few hours of focussed effort and a trip to your solicitor, Legal Aid or Public Trustee will suffice.
Beneficiaries are those people or entities that you leave your property, finances and belongings to. Some common beneficiaries include your spouse, children and grandchildren, parents, other relatives, friends, employees, charities, pets, and organisations such as environmental or scientific institutions, churches and universities. Be sure to include complete details so they may be easily located.
Charity Gifts
Leaving a gift or ‘bequest’ in your Will to a charity is an effective way of expressing your support for a cause that is important to you. You may choose to leave a residual bequest, a percentage of your estate, a specific sum of money, a gift of property, or shares. Your charity or charities need to be correctly described so it’s important to get legal advice to make sure this is done correctly and that your loved ones have been properly looked after.
Children
If your children are under 18, decide who you want to raise them in the event of your death and their other parent can't. Consider children from current and prior relationships and explore all options for special needs children.
This is important whether as a single parent or a couple if something unexpected happens to you and your partner such as dying simultaneously, rather than leaving the decision to the courts or social services. Also choose someone who can manage your children's property that they may inherit from you.
After in-depth consultations with the proposed person/s for guardian/s for your children, officially appoint them in your Will and specify the financial assistance you intend leaving.
Codicil
It is also important that your intentions are expressed clearly in writing to reduce the chance of any argument over who you want to receive your specific belongings. You cannot cross out or initial any changes, though you can make a ‘codicil’ which is a separate document in which you make a change to your Will. The codicil needs to be signed and witnessed in the same way as when you made your Will.
A review of your Will every few years is recommended and certainly after any major life-changing event. It is usually best to just make a completely new Will.
Death Certificate
When someone dies, a doctor signs a certificate that confirms the death. Funeral arrangements cannot be completed until the doctor has signed and issued a Doctor’s Certificate of Cause of Death.
The Registrar at NSW Birth, Deaths and Marriages needs to be notified of the death within 7 days. This is usually done by the funeral director, the relevant medical practitioner, or next of kin or relative of the deceased.
In some cases a death may be referred to the Coroner for confirmation of the cause of death. If the Coroner's investigation takes some time, the Registry can issue an interim death certificate. This certificate can be used to begin settlement of the deceased's estate.
Debt
What happens to your debts or liabilities after you die? The executor will sort through the deceased’s papers and statements, and make a list of everything owed. Whether or not these debts will have to be paid from the deceased's funds or assets will usually depend on whether the debts were owed by the deceased and another person jointly.
Check whether there is any insurance to pay off the debt such as a mortgage. Explain your situation to the lender and if necessary, you might be able to renegotiate the repayments or temporarily freeze the interest.
Is there a Binding Financial Agreement with a present, de-facto or former spouse? Although your personal debt is usually yours alone, when your estate is settled after death, any remaining debts owed are paid from the value of your estate. Generally speaking, creditors come before your beneficiaries. However, you’ll need to research this as there are certain variables, particularly if another person has co-signed a loan with you, or jointly shares credit card debt.
Digital Estate
Think carefully how you’d like your Digital Estate to be administered after your death. Your survivors may not be aware of the extent of your digital presence.
You may appoint a Digital Executor to be responsible for managing your digital assets after you die, paying any debts or maintenance fees on behalf of your Digital Estate, and making sure that your digital assets are distributed to the people you want, in the way you want.
You may wish to write a personal message to your readership for example on Facebook and Twitter that your Digital Executor will post after your death if you give them access. Most popular online services have developed deceased-user policies, which provide the family or executor of the deceased user with information about what's required to access the account.
Assign beneficiaries to other digital assets such as computers, external hard drives or flash drives, tablets, smartphones, digital music players, e-readers, and digital cameras.
Digital Assets
List all accounts, addresses, email addresses and passwords in your exercise book.
Audio devices and accessories such as headphones and microphone
Bank and Credit Card Accounts
Blog and Website Domain Names
Digital Executor is the person to administer your internet/online presence after you die.
eBay account
e-books
Email Accounts — Gmail, Hotmail, Yahoo etc
Intellectual property, including copyrighted materials, trademarks, and any code you may have written and own.
Loyalty programs with credit card, airline, car rental, hotel
Online savings bonds, financial organisations
PayPal account
Personals Profile sites
Photo albums
Personal ebooks and ePublishers
Shopping Accounts
Transfer and redeem frequent flyer points in Airline Accounts
Video Gaming Accounts
YouTube
Link to How to Create a Digital Estate
Donating the Organs of Your Body
Organ donors need to register with the Australian Organ Donor Register. This is a straightforward procedure and may be done by using an online form or by phone. Example statement: ‘I wish to be an organ donor and have registered and organised use of my organs after death.’
Donation of Your Body
Body donation to a Medical or Science University needs to be registered and prearranged before death. If this is your wish, clearly state it in your Will and make sure your medical carers have knowledge of the details.
Estate
After your death your property and belongings are referred to as your estate.
Executor/Executrix
The person or persons named in a decedent's Will to carry out the provisions of that Will that usually involves:
Locating the Will
Arranging the funeral
Applying for probate
Obtaining a death certificate
Informing investment bodies of the death such banks, building societies, and share registries
Informing Centrelink and other government bodies, such as medicare and the ATO - Australian Taxation Office
Locating assets and having their value assessed
Paying debts, income tax and funeral expenses
Transferring assets and paying stamp duty
Distributing the surplus to beneficiaries
Funeral Costs
Do you want to arrange and pay for your funeral and wake in advance? You may have a Funeral Plan or have privately put aside funds for this purpose. Funeral arrangements need to be made separately as the reading and implementation of the Will usually takes place after the funeral.
Joint Ownership of Property and Other Assets
In Australia, people are required to make individual Wills. If you're married or in a domestic partnership, and regardless of sexual orientation, each spouse needs to make a separate Will. Do this yourself. Do not leave it to your partner to do it for you.
Domestic partnership means a de-facto partnership of at least 2 years, or one that has resulted in the birth of a child. A domestic partner may be someone of the same or opposite sex.
Joint Tenancy and Tenancy-in-Common
When a joint tenant dies, their share in the asset is terminated and they cannot pass the asset to their estate. The surviving owner becomes the sole owner. The most common type of asset held in joint tenancy is the family home.
When a tenant-in-common dies, their share passes to their deceased estate and the executor deals with that share in the assets. In the case of real estate, the title deed usually specifies the type of co-ownership.
Insurance Policies
Your Life Insurance Policy will pay a sum of money known as a death benefit to your beneficiary or estate. It’s a good idea to check with the company for your best procedure. Also check if there are any proceeds outstanding from a compensation claim.
Document all your insurances including life and accidental death policies, together with the policy numbers, named beneficiaries, and name and address of the insurance company. Be sure to keep them in a safe place.
Litigation
Can your Will be challenged?
Making a clear, fair and legal Will helps ensure that any arguments, litigation, lawyers and courts are avoided. Ensure why anyone who is left out is explained clearly in the Will. Taking responsibility in preparing your Will to final completion, with codicils when the need arises, will ensure that your loved ones will not be subjected to months or perhaps even years of conflict and legal hassles.
Pets and Other Animals
Pets may be considered to be part of the family, so make sure they are well taken care of. You may protect your pets by leaving a sum of money to the person or charity that will be caring for your animals. Also consider other farm or wild animals in your care.
Probate
Probate is a document issued by the court certifying the Will's validity and confirming the appointment of an Executor to administer the deceased estate. It is the process of proving and registering in the Supreme Court the last Will of a deceased person.
Review Regularly
Remember to renew your Will to revoke all previous Wills as your situation changes such as:
- a marriage or divorce
- gaining new assets
- changing allegiances
- acquiring assets in multiple states or countries
Superannuation
Ensure your superannuation details are current and recorded to achieve the optimal financial result for your dependants. The death benefit is paid from the super plan and is generally the amount of your super plus any death cover benefit held by the plan, less any tax payable.
Taxation
Notification of the deceased person’s death certificate needs to be lodged with the tax office.
Notification forms can be found online or at your Post Office.
Trusts
Trusts are established for a number of reasons, for example, to provide on-going support for a beneficiary under your Will or to provide tax effective estate planning or to benefit a charity. In such cases you will need to appoint a suitable trustee/s. In the event that a minor (child, grandchild, great-grandchild, niece or nephew) inherits a share of your estate, who will you appoint as trustee of that minor's share?
Will
A Will is a legal document that sets out directions for the administration and disposal of a person's property after their death. Research resources can be studied in relevant organisations on the Internet and in libraries.
Writing Your Own Will
You may write your own Will particularly if your situation is straightforward, as long as you ensure it’s legally viable. Beneficiaries or the spouse of a beneficiary cannot be witnesses as it may cancel out their entitlement.
It may be handwritten, typed or printed either on paper or using a Last Will and Testament form available at newsagencies and post offices, or accessed and downloaded from the internet.
Sample Will
Print two copies of the original that has been signed and dated by yourself and two witnesses.
Making a Will is important for everybody whether you own property and have funds and belongings or not. A good idea is to use the free Will-making service of either the Public Trustee or Legal Aid. The NSW Trustee and Guardian does not charge a fee to make or update a Will. Upon your death, fees will apply when they administer it according to your wishes written in your Last Will and Testament.
Legal Aid
Public Trustee
The cost of solicitors’ fees vary depending on the complexity, so its prudent to shop around. If your situation is complex, it is recommended that you seek professional assistance from a solicitor to ensure your Will is handled properly. You may wish for example, to create a testamentary trust to be effective only after your death.
STORE SAFELY and tell your executor and co-executor if you have one, where it may be located such as at your solicitor’s, in a safety deposit box in a bank, or in a safe place at home. It is a good idea to keep a signed copy with your personal papers, with a note explaining where the original is. Write all location details in your Contacts Book.
The following Checklist will assist in clarifying and itemising details of your assets and where you’d like them to go. Imagine the challenges for grieving loved ones if you have procrastinated and not made the effort to state in a legal document whom you’d like to receive all your property and belongings. Depending on the complexity of your estate a few hours of focussed effort and a trip to your solicitor, Legal Aid or Public Trustee will suffice.
Will Checklist
Tick or highlight when complete
Mark with an X if not relevant
Leave blank while ‘in progress’
You’ll need your exercise, address and contacts books
Here are some ideas to get you started for detailing your estate
• Full Name:
Date of Birth:
Place of Birth:
Date and Place of Marriage:
Address:
PO Box:
Phone:
Mobile:
Email:
• Provide Full Details of Spouse and Children
Show your marital or domestic partnership status and date of union.
Married or in domestic partnership to whom and date of birth of partner.
List names and ages of all children of current or previous marriages, including those related by adoption or marriage.
List names and ages of grandchildren and great-grandchildren.
• I am the testator of a completed and legal Will.
It is signed and witnessed by two or more witnesses who are:
• My original Will is safely stored at
Name:
Address:
Phone:
Mobile:
Email:
• A copy of my Will is stored at
Name:
Address:
Location:
Phone:
Mobile:
Email:
• Review and update your Will as circumstances change and revoke all previous Wills or codicils.
• The executor/s who will manage my estate is/are
Name:
Relationship:
Address:
Phone:
Mobile:
Email:
Name:
Relationship:
Address:
Phone:
Mobile:
Email:
• Assigned funds to the appointed executor and co-executor to cover the cost of administration ie: reasonable compensation for services of your Will.
• Accountant
• Financial Planner
• Bank Manager
• Doctor
• Protect your family with an up-to-date Will. Discuss the contents of your dying and death wishes with your closest family and friends, doctor, carer and enduring guardian. Their names and details are:
• Inventory showing an estimated current value of each - house/s, land, business/es, shares, cash at bank, investments, jewellery, artworks, coins, antiques, letters, photographs, television set, furniture, clothes, collectibles, vehicles, computers/laptops, lawn mower, power tools, farm machinery, ___
• Specify whether cremation or burial; funeral, crematorium or cemetery wishes.
• Study sample and famous Wills on the internet to get inspiration.
• Discuss your reasoning and decisions about who will inherit specific belongings with immediate family, relatives and friends regarding their specific shares.
• Identify heirs by name, birth date, addresses and relationship to you.
• Give explicit descriptions of your home and other properties according to their legal deeds to be clear for all beneficiaries.
• Provide second choices of recipient/s for assets in the event of a nominated beneficiary predeceasing you.
• Revise/renew your Will due to changing circumstances - birth or adoption of a child, divorce, retirement, new bank account, new car, new house, other real estate, obsolete or liquidated assets.
• It is prudent to make it clear, without meanness, who to exclude or disinherit so the estranged ones may not attempt to contest your Will.
• Bequeath intellectual rights to your own books, music, videos and films, e-publishing.
• Organise your Digital Estate and discuss your wishes in detail with your Digital Executor.
• Provide details of your bank and PayPal accounts, shares, investments, and overseas assets.
• List debts such as credit card accounts, car loans, existing mortgages, and home equity line of credit.
• Decide how to pass on a family business.
• Inventory of key documents such as:
- Birth, marriage and divorce certificates
- Title deeds and mortgages
- Investment portfolio account numbers, stock certificates
- Insurance policy numbers
- Social Security, Centrelink numbers
- Taxation number
- Medicare
• This month – organise and keep all your important documents in one place and copies in another.
A Sample Will
Toklas wrote of Stein - "I sat next to her and she said to me early in the afternoon, What is the answer? I was silent. In that case, she said, what is the question?"
Mark with an X if not relevant
Leave blank while ‘in progress’
You’ll need your exercise, address and contacts books
Here are some ideas to get you started for detailing your estate
• Full Name:
Date of Birth:
Place of Birth:
Date and Place of Marriage:
Address:
PO Box:
Phone:
Mobile:
Email:
• Provide Full Details of Spouse and Children
Show your marital or domestic partnership status and date of union.
Married or in domestic partnership to whom and date of birth of partner.
List names and ages of all children of current or previous marriages, including those related by adoption or marriage.
List names and ages of grandchildren and great-grandchildren.
• I am the testator of a completed and legal Will.
It is signed and witnessed by two or more witnesses who are:
• My original Will is safely stored at
Name:
Address:
Phone:
Mobile:
Email:
• A copy of my Will is stored at
Name:
Address:
Location:
Phone:
Mobile:
Email:
• Review and update your Will as circumstances change and revoke all previous Wills or codicils.
• The executor/s who will manage my estate is/are
Name:
Relationship:
Address:
Phone:
Mobile:
Email:
Name:
Relationship:
Address:
Phone:
Mobile:
Email:
• Assigned funds to the appointed executor and co-executor to cover the cost of administration ie: reasonable compensation for services of your Will.
• Accountant
• Financial Planner
• Bank Manager
• Doctor
• Protect your family with an up-to-date Will. Discuss the contents of your dying and death wishes with your closest family and friends, doctor, carer and enduring guardian. Their names and details are:
• Inventory showing an estimated current value of each - house/s, land, business/es, shares, cash at bank, investments, jewellery, artworks, coins, antiques, letters, photographs, television set, furniture, clothes, collectibles, vehicles, computers/laptops, lawn mower, power tools, farm machinery, ___
• Specify whether cremation or burial; funeral, crematorium or cemetery wishes.
• Study sample and famous Wills on the internet to get inspiration.
• Discuss your reasoning and decisions about who will inherit specific belongings with immediate family, relatives and friends regarding their specific shares.
• Identify heirs by name, birth date, addresses and relationship to you.
• Give explicit descriptions of your home and other properties according to their legal deeds to be clear for all beneficiaries.
• Provide second choices of recipient/s for assets in the event of a nominated beneficiary predeceasing you.
• Revise/renew your Will due to changing circumstances - birth or adoption of a child, divorce, retirement, new bank account, new car, new house, other real estate, obsolete or liquidated assets.
• It is prudent to make it clear, without meanness, who to exclude or disinherit so the estranged ones may not attempt to contest your Will.
• Bequeath intellectual rights to your own books, music, videos and films, e-publishing.
• Organise your Digital Estate and discuss your wishes in detail with your Digital Executor.
• Provide details of your bank and PayPal accounts, shares, investments, and overseas assets.
• List debts such as credit card accounts, car loans, existing mortgages, and home equity line of credit.
• Decide how to pass on a family business.
• Inventory of key documents such as:
- Birth, marriage and divorce certificates
- Title deeds and mortgages
- Investment portfolio account numbers, stock certificates
- Insurance policy numbers
- Social Security, Centrelink numbers
- Taxation number
- Medicare
• This month – organise and keep all your important documents in one place and copies in another.
A Sample Will
Toklas wrote of Stein - "I sat next to her and she said to me early in the afternoon, What is the answer? I was silent. In that case, she said, what is the question?"
Methods to Consider:
You know yourself best. If you don’t have a valid Will, and really want one, what can you do to apply yourself to the task and to complete it, for your own peace of mind, and that of your loved ones?
- Get together with a small group of friends weekly for a month or so to work through the ideas in this book and share your research and progress with each other.
- Buy a Will kit online or from the Post Office or newsagency.
- Take time alone to work on it until it’s done.
- Work on it with your partner or a trusted friend.
- Gather all pertinent documents and data and employ a solicitor or the Public Trustee.
- Research the plethora of on-line options.
- Your ideas go here.
Tick those that apply
My Last Will and Testament is:
Written, updated and completed.
Signed and dated by two witnesses.
My letter and/or video to my loved ones has been completed.
Benefactors have been informed of its contents.
My contact book with names, phone numbers, passwords, is up to date.
Financial and funeral arrangements have been completed.
My Will and two copies are safely stored.
Executors have been informed of its location.
Click here for more details on how to write Your Will
I’m sorry.
I forgive you.
Thank you.
I love you.
It’s OK to die.
Goodbye.
If you find my work of value, a small financial contribution labelled 'Modules' would be greatly appreciated. Thank you so much. PayPal cedars.circles@gmail.com or Cedar Rivers Westpac Bank bsb 732575 account number 501619