Single Will (with no Testamentary Trust)
What is a Single Will?
You are building an Australian Simple Single Will on our law firm’s website. Read the hints. Watch the training videos. Telephone us for legal advice on how to answer the questions.
Single Will vs Mutual Will
A single Will is a Will for a single person. Build a Single Will where:
- your spouse has died
- you are divorced; or
- you don’t have a life partner.
(In contrast, Mutual Wills are for couples who leave everything to each other, in the first instance. They are for married couples or people with a life partner. The two Wills mirror each other. If you wish, build Mutual Wills here.)
Why no 3-Generation Testamentary Trust in my Will?
The Simple Will you are building contains no Testamentary Trusts. ‘3-Generation Testamentary Trusts’ Wills stop the five de facto death duties:
- Capital Gains Tax
- Income Tax
- Stamp Duty
- 32% tax on your Superannuation payable by children over 18
- Divorce Protection Trust – to protect your beneficiaries
A 3-Generation Testamentary Trust Will costs more to build on our web site. However, it makes it easier for your beneficiaries to escape death duties. Rather have a Testamentary Trust in your Will? Then build your 3-Generation Testamentary Trust Single Will here.
