What is a Single Will?
You are building a 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 Testamentary Trust in my Will?
The Simple Will you are building on-line contains no Testamentary Trusts. ‘Testamentary Trusts’ helps your beneficiaries save on the 4 de facto death duties:
- Capital Gains Tax
- Income Tax
- Stamp Duty
- up to 32% tax on your Superannuation (payable immediately at death)
A 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 Testamentary Trust Single Will here.
For legal advice telephone us. We are a law firm. We can help you answer the questions as you build your Will.
Adjunct Professor, Dr Brett Davies, CTA, AIAMA, BJuris, LLB, LLM, MBA, SJD
Legal Consolidated Barristers and Solicitors
Australia wide law firm
Mobile: 0477 796 959
National: 1800 141 612