Not Everything Falls Under a Will
It’s easy to think your will covers all of your assets, but in Victoria that’s not always true. Certain types of property and entitlements are handled under different rules.
Superannuation and Death Benefits
Superannuation is one of the biggest assets that sits outside your will. Unless you’ve made a binding death benefit nomination, your super fund decides who receives your balance and any insurance attached.
Jointly Owned Property and Trust Structures
If you own property as a joint tenant, it passes automatically to the surviving owner, regardless of what your will says. Assets in a trust or a company aren’t legally “yours” either, so they won’t fall under your estate.
Planning Beyond the Will
Just because these assets aren’t part of your will doesn’t mean you can’t plan for them. By taking steps now—such as making nominations, reviewing structures, and seeking advice—you can make sure your intentions are respected.
Learn more about a Will here
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