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Learn more about Wills
Know the terms
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What is a Will?A Will is a legal document that details what you’d like to happen to your estate. It helps ensure your assets are protected and enables you to appoint a guardian for your children.
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What is an Executor?An Executor is the person or organisation you appoint to carry out the wishes in your Will.
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What is a beneficiary?A beneficiary is a person or other legal entity (e.g. a charity) that receives a benefit from the deceased estate.
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What does intestate mean?Dying intestate means a person has died without a valid Will. State and Territory intestacy law then determines how an estate is to be distributed using a set formula.
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Before you get a Will
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When should I make a Will?It’s a good idea to review your Will when there have been significant events in your life, or every 2 to 3 years, to ensure it still meets your requirements.
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Why do I need a Will?Your will is your voice after you’re gone. The clearer your instructions, the better it is for the people you leave behind.
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What happens if I don't have a Will?If you die without a Will, you die intestate. Being intestate means that the relevant state or territory laws of intestacy will determine how your estate is to be managed and distributed.
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How is a Will revoked/cancelled?In Victoria, a Will may typically be revoked or cancelled by destroying the will, or creating a new will.
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After you get a Will
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Where do I store my Will?The Victorian Will and Powers of Attorney Registry is an initiative offered by State Trustees. It is a safe place to store your Will and Powers of Attorney documents. It is free for anyone who lives in Victoria.
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How often should I review my Will?It’s a good idea to review your Will when there have been significant events in your life, or every 2 to 3 years.
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