How can I include people in my Will?

Making a Will is how you can provide for the people you care about after you pass away. Choosing who to include is a decision you need to make before you can make a Will. Commonly, people include in their Wills those who are closest to them and whom they wish to provide for Рspouses, children, parents, grandchildren, relatives, friends. You might also wish to include an organisation that you currently support and wish to continue supporting such as a charity, club or religious organisation.

Once you’ve decided on the beneficiaries in your Will, you need to decide what you will leave them.

There are a number of ways you can give gifts to your beneficiaries:

  • Specific gift – giving a specific gift such as jewellery, a lump sum of money or anything you own.
  • One thing you need to consider is that the item needs to still be owned by you at the time of your death, otherwise the gift may not be effective.
  • Percentage gift – giving a portion or even the whole of your estate.
  • Residual – the remaining part of your estate after any other gifts.

Need assistance with drafting your Will? We’re here to help! Give us a call on (02) 9687 8885 to discuss all of your estate planning needs.

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