A legally married spouse, de facto partner, children, financial dependants and inter-dependants.

FAQs – Page 2 – Taxcellent Consulting Services

Q: Who can claim super death benefits?

Any dependants of the deceased or their estate.

Q: Now that I have ticked estate planning off my list, do I have to do anything else?

Your estate planning—including your MyLife Documents™—should be reviewed regularly. As a rule of thumb, every five years is recommended. However, there may be circumstances that justify more regular reviews: Change in relationship such as marriage, separation or divorce or entering into or ending a de facto relationship Having children (including adopting or fostering) The death of a proposed beneficiary or executor Major events / accidents / illnesses that occur in your family Major changes to your assets

Q: What do I do with my documents once they are finalised?

All Taxcellent Consulting Services prepared Wills, Powers of Attorney and supplementary documents are stored securely at no cost to you. This offers additional peace of mind and security in knowing your Will can be easily located.

Q: How do I chose my executor and POA?

Someone who is willing to take on the task of being an Executor or Attorney. Remember you do not have to appoint the same person to be both Executor and Attorney. Generally, consider if the person you are considering is trustworthy and is good with paperwork. The Executor has the responsibility to implement the instructions contained in your Will; the smooth administration of your estate therefore depends to a large extent on choosing the right Executor.

Q: What is the difference between a ‘standard Will’ and a ‘complex Will’?

It is important that you obtain legal advice specific to your circumstances to make sure that your Will is legally valid and is going to give effect to your wishes regarding the way your assets are distributed. For many people a standard Will can achieve these aims. When your family and asset circumstances are straightforward, for example, if all your children are from your current relationship or if you do not have children, then a standard Will may be suitable. However, it is important to remember that you might not necessarily know if your situation is going to be complicated. A Maurice Blackburn lawyer will review your circumstances and advise you. In the event that your personal circumstances lead to your Will being considered a complex Will, the team at Maurice Blackburn have the skill and experience to create a Will that meets your needs no matter how complex they may be at a reasonable cost. A complex Will require more detailed instruction gathering and drafting than a standard Will. There are many common scenarios that may require a complex Will. These can include: Your family is a blended family Assets of partners or spouses are not owned jointly Properties are co-owned with non-partner/spouse You own a business or multiple businesses You have a Self-Managed Super Fund You are in control of a Family or Unit Trust You wish to list multiple specific gifts including gifts of property (real estate) You wish to make arrangements to provide for a beneficiary with a disability The need for asset protection arrangements Unequal distributions to beneficiaries You wish to exclude a spouse or child Maurice Blackburn can help you navigate no matter how complex and individual your circumstances and provide you with a tailored complex Will that distributes your estate as you want.

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FAQs

Who is a dependant?

Who can claim super death benefits?

Now that I have ticked estate planning off my list, do I have to do anything else?

What do I do with my documents once they are finalised?

How do I chose my executor and POA?

What is the difference between a ‘standard Will’ and a ‘complex Will’?

Get a personal consultation.

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