What to include in a will
Making a will means you decide who gets your assets after you pass away. Find out what information to include in a will, and how often you should review it.
What to include in your will
Making a will is the best way you can ensure your assets will be distributed according to your wishes. So it's important to understand and consider what you can, and cannot, include in your will.
One of the most important inclusions is an executor; the person/s or entity you nominate to carry out your instructions.
If you have children under 18 years of age, a testamentary guardian is needed. That is, an adult designated responsible for the welfare and upbringing of minor children.
Did you know pets are considered legal property? And given many are treated like family, allocated funds and a nominated pet carer can form part of your will and overall estate planning.
Depending on your circumstances, other possible elements to consider for inclusion in your will might be:
- listing your assets and beneficiaries
- allocating gifts, be that monetary, specific or your residual estate
- documenting your funeral wishes
- recording all your accounts, memberships and digital profiles to make it easier for an executor to cancel or transfer services.
Reviewing your will
It's recommended to review your will every 5 years or whenever there's a significant event or change in your life. This could be:
- getting married
- having children
- changes to your financial situation
- separating or divorcing
- moving overseas
- the death of a proposed beneficiary or executor.
In these situations, the terms of your will may be impacted so it's important to ensure it reflects your current circumstances.
End of Life Planner
An interactive guide to help you prepare for end of life tasks and documents before you meet with a professional advisor. This includes will preparation, Enduring Power of Attorney, Enduring Guardianship, funeral wishes and more.
You will need to log in to your MyServiceNSW Account to use the planner.
We're now directing you to log in to the Life Administrator – End of Life Planner. You'll need a MyServiceNSW Account to continue.
Why should I log in?
By logging in you're able to:
- start the planning process
- update and save your information whenever circumstances change
- find ways to get professional advice if you need it.