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Husband and wife will
Attached is a set of instructions for the preparation of a Will which may be suitable for use between husbands and wives in many situations. The Wills prepared from these instructions will provide as follows:
1. It appoints your wife/husband as executrix/executor in the first instance and leaves all property and assets to her or him.
NOTE - Assets which are not in your name i.e. are in a Family Trust or a Company name do not pass under the operation of a Will and should be separately provided for.
2. In the event that your wife/husband dies before you, then a substitute executrix/executor is provided for and the entire proceeds of the estate that were to be left to your wife/husband are left to your children in equal shares when they attain the age of 21 years.
3. The Will provides wide powers of investment e.g. If the executor determines that it is not in the best interest of the beneficiaries for the assets of the estate to be sold off immediately, the sale can be deferred.
4. The Will also provides for advancement of capital to the children for the purpose of maintenance, support or education. If a child is under the age of 18 or as the Will provides, 21, then without this provision the executor is only entitled to apply the interest towards the benefit of the child. In some cases this may be insufficient for school fees etc., so the Will does allow the executor the power to advance capital.
5. The Will also provides for burial or cremation. It is not essential that any direction be given, however it is generally desirable to make provision in advance.
6. If there is a requirement to make other provisions such as to leave specific items, assets or money to any nominated person then please complete the "Special Requests" section. However, if the matter is more complicated such as the creation of a life estate we suggest that you telephone this office on (613) 9664 4700 to arrange an appointment to give specific instructions.