Things to consider

Making a Will is an important activity and we encourage everyone to have a Will so that in the event of your passing, your loved ones know and can carry out your wishes.

The following are some of the things you will want to consider when drawing up your Will.

Looking after your loved ones

Looking after your loved ones will no doubt be your highest priority. Think about who you want to include as beneficiaries of your Estate – it could be siblings, children, nieces and nephews, grandchildren and close friends.

Looking after your children

If you have children and they’re under the age of 18, you will need to decide who you would like to take care of them if you pass away before they reach the age of consent.

Who will handle your affairs?

The people that you nominate in your Will to handle your affairs after you’re gone are called Executors. It is common and advisable for two people to share the task of executing your Will. They can be friends, family members, professionals or a combination of these.

When choosing an Executor, think about who would be capable of dealing with your affairs. It needs to be someone you trust, who is business-minded and perhaps is not a beneficiary in your Will. Alternatively, your Executor/s could be professional advisors, but bear in mind that there will be a charge for their services.

Including a charity

If you have decided to leave a gift to charity in your Will, you will need to decide which one. You might have a favourite charity that you have supported in the past. Or you might like to include several charities.

Gifts in Wills are an important source of income for many charities and enable them to carry out much of their vital work.

When considering giving a gift to charity, reflect on what is most important to you, the legacy you would like to leave for future and the charities you care about.

Hear from people who have left a gift in their Will.

Funeral arrangements

In addition to detailing the distribution of your Estate, your Will is also an opportunity for you to detail what you would like to happen at your funeral. Including funeral arrangements can greatly reduce the burden on your loved ones.

Distributing your assets

You will need to think about what assets make up your Estate, who you want to have them and how they should be distributed (for example, a percentage of your Estate given after a specific beneficiary reaches a certain age).

You might also want to think about passing on your digital assets when making a Will, such as music and photo collections.

Some useful information on the different ways in which Estates can be distributed is given in more detail on the How to Leave a Gift to Charity page.

If you have a very complex Estate and wish to distribute in an intricate manner, we recommend that you seek professional legal advice.

Contact us to find out how to include a charity in your will:

E:[email protected]       |        T: 1300 889 670