Frequently Asked Questions

Our Top 10 Recommendations:

1. Be Prepared:  Here is some important advice for anyone potentially facing the loss of a spouse or similar situation — or simply wanting to get their affairs in order "just in case":
2.  Create a Video Will to re-enforce your Last Will and Testament.
3. Obtain certified copies of original certificates, birth and marriage at this stage for both Spouses.
4. Have ready certified copies of identity documents, passport, driver's licence, etc. (keep these with your Video Will).
5. Do you have enduring powers of attorney and guardianship arrangements. 
6. Ensure that all utilities and bank accounts are in joint names.
7. Ensure you know where your will is. Create a Video Will to re-enforce this.
8. Get a certified copy of, and have the superannuation fund details ready.
9. Make sure there is enough money available to tide a widow/widower over for at least several months after a death.
10. If you are contemplating an eventual burial or interment in an existing family grave, find out who the "holder of right" is, or get that sorted well in advance.

(Information obtained from the following Link)

https://www.abc.net.au/news/2023-01-24/perils-of-widowhood-inherit-superannuation-will-centrelink/101862326?utm_campaign=abc_news_web&utm_content=mail&utm_medium=content_shared&utm_source=abc_news_web

Superannuation is not considered as a part of your will so does not automatically become part of your estate. It is held in trust by the super fund. Rules enshrined in legislation but governed by the super funds themselves will decide who is eligible to receive your super money if you pass away.

Superannuation beneficiaries include:

• Your spouse or de facto, but not former spouses
• Your children
• Someone financially dependent on you at the time of your death
• Your estate, but this requires legal help to override the beneficiaries listed above

  (Information obtained from the following Link)

https://www.abc.net.au/news/2021-06-20/who-gets-superannuation-when-die/100226612

There are Three Options for specifying superannuation beneficiaries:

1. Binding Nomination

• See a lawyer and have your beneficiary named in a legal document. The trustee of the superannuation fund must then pay your super to that person, for example your children or to your estate, from where it could be distributed to another beneficiary of your choice such as a charity or family member.
• Check closely how long the nomination lasts before it lapses. Some expire every three years.
• If you don't want your nomination to lapse then opt for a non-lapsing binding nomination. This can be helpful for older people who may lose mental capacity as they age.

2. Non-Binding Nomination

• While your nomination will be considered, the trustee retains the power to nominate your beneficiary. 

3. No Nomination

• Similar to a non-binding nomination, if you do not specify your superannuation beneficiary the trustee will pay the money according to its discretion which could be your estate or to an eligible beneficiary according to the criteria above – spouse, children or a financial dependent. 
• We recommend to Create a Video Will to clearly show your wishes. 

 (Information obtained from the following Link)

https://www.abc.net.au/news/2021-06-20/who-gets-superannuation-when-die/100226612

Your Will is the expression of your wishes after you’ve gone. 

• The clearer your instructions the easier it is for the people left behind. What do you want done with a lifetime of accumulated assets? Home? Cash? Car? Are you planning on leaving your cricket-crazy nephew your priceless Don Bradman cricket cards but haven’t told anybody? 

A correctly written and current Will ensures:

• The right people are provided for after you pass away
• You choose the guardian of your children and/or pet’s
• No room for arguments amongst the beneficiaries (or not) of your will
• Someone (your executor) understands exactly your wishes for how to manage your estate
• Your estate can be quickly and smoothly settled.

Once you have written your Last Will and Testament:

• Contact Living Wills and arrange for us to create your very own Living Wills Video Testament to re-enforce your wishes and to help protect your Legacy.

• Without a will your assets will be distributed as determined by the Administration and Probate Act,1958 (Vic) – check your state’s legislation.
  Your prized butterfly collection may go to that relation you don’t like rather than to your best friend or the Natural History Museum.
• Consider talking to your family now and find out if they have interest in any particular assets of yours. 
• Have Living Wills Film your "Living Wills Legacy" to let your loved ones know how and why you’re distributing your assets in a particular way. 
• What better way to ensure your wishes are up held than to have a video record of You Recording Your Last Will and Testament and you leaving clear instructions for the distribution of your personal and much loved memories and assets exactly as you instructed. 
• This allows any disappointments to be dealt with now rather than later through a costly legal exercise that may not even yield their desired result.
  

• A will is the only way to make sure your wishes and intentions are carried out after you’ve gone. 
• Your family and friends will be suffering through the grieving process – don’t make things more difficult for them.
• Remember to update your will if circumstances change – you may experience divorce, have children, or acquire new assets.
• A Living Will clearly shows your wishes and Bequeaths. 
• No miss-understandings. 
• No arguments.