Free Last Will and Testament

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Last Will and Testament

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Your Last Will and Testament

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LAST WILL AND TESTAMENT OF ____________________

I, ____________________, presently of ____________________, hereby revoke all former testamentary dispositions made by me and declare this to be my last Will.


  1. PRELIMINARY DECLARATIONS
  2. Prior Wills and Codicils
  3. I revoke all prior Wills and Codicils.
  4. Marital Status
  5. I am not married.
  6. Children
  7. I do not have any living children.

  8. EXECUTOR
  9. Executor
  10. The expression 'my Executor' used throughout this Will includes either the singular or plural number, or the masculine or feminine gender as appropriate wherever the fact or context so requires. The term 'executor' in this Will is synonymous with and includes the term 'executrix'.
  11. Appointment
  12. I appoint __________ of __________, Australian Capital Territory as the sole Executor of this my Will.
  13. Powers Of My Executor
  14. I give and appoint to my Executor the following duties and powers with respect to my estate:
    1. To pay my legally enforceable debts, funeral expenses and all expenses in connection with the administration of my estate and the trusts created by my Will as soon as convenient after my death, except for any debt secured by real and/or personal property which is to be assumed by the recipient of such property.
    2. To take all legal actions to have the probate of my Will completed as quickly and simply as possible, and as free as possible from any court supervision.
    3. To retain, exchange or dispose of any personal property without liability for loss or depreciation.
    4. To purchase, maintain, convert and liquidate investments or securities, and to exercise voting rights in connection with any shareholding, or exercise any option concerning any investments or securities.
    5. To open or close bank accounts.
    6. To maintain, continue, dissolve, change or sell any business which is part of my estate, or to purchase any business if deemed necessary or beneficial to my estate by my Executor.
    7. To sell, mortgage, exchange, lease or otherwise dispose or deal with any real property in my estate and to pay, alter, improve, add to or remove any buildings thereon and generally to manage such real property.
    8. To maintain, settle, abandon, make a claim against or defend, or otherwise deal with any claims or actions against my estate.
    9. To employ any solicitor, accountant or other professional.
    10. Except as otherwise provided, to act as my Trustee by holding in trust the share of any minor beneficiary, and to keep such share invested, pay the income or capital or as much of either or both as my Executor considers advisable for the maintenance, education, advancement or benefit of such minor beneficiary and to pay or transfer the capital of such share or the amount remaining to such beneficiary when he or she reaches the age of majority or, during the minority of such beneficiary, to pay or transfer such share to any parent or guardian of such beneficiary subject to like conditions and the receipt of any such parent or guardian discharges my Executor.

    The above authority and powers granted to my Executor are in addition to any powers and elective rights conferred by statute or common law or by other provision of this Will and may be exercised as often as required, and without application to or approval by any court.


  15. DISPOSITION OF ESTATE
  16. Distribution of Residue
  17. To receive any gift or property under this Will a beneficiary must survive me for thirty (30) days. Beneficiaries of my estate residue will receive and share all of my property and assets not specifically bequeathed or otherwise required for the payment of any debts owed, including but not limited to, expenses associated with the probate of my Will, the payment of taxes, funeral expenses or any other expense resulting from the administration of my Will. The entire estate residue is to be divided between my designated beneficiaries with the beneficiaries receiving a share of the entire estate residue. All property given under this Will is subject to any encumbrances or liens attached to the property.
  18. I direct my Executor to distribute the residue of my estate as follows ("Share Allocations"):
    1. All of the residue of my estate to __________ of __________, __________, for their own use absolutely.
  19. Wipeout Provision
  20. I HEREBY DIRECT that the residue of my estate or the amount remaining thereof be divided into one hundred (100) equal shares and to pay and transfer such shares as follows:
    1. 100 shares to be divided equally between my parents and siblings, or the survivors thereof, for their own use absolutely, if all or any of them is then alive.
  21. Individuals Omitted From Bequests
  22. If I have omitted to leave property in this Will to one or more of my heirs as named above or have provided them with zero shares of a bequest, the failure to do so is intentional.

  23. GENERAL PROVISIONS
  24. No Contest Provision
  25. If any beneficiary under this Will contests in any court any of the provisions of this Will, then each and all such persons shall not be entitled to any devises, legacies, bequests, or benefits under this Will or any codicil hereto, and such interest or share in my estate shall be disposed of as if that contesting beneficiary had not survived me.
  26. Severability
  27. If any provisions of this Will are deemed unenforceable, the remaining provisions will remain in full force and effect.
  28. Signature
  29. I, ____________________, the within named Testator, have to this my last Will contained on this and the preceding pages, set my hand at the City of __________, in the Commonwealth of Australia, this 21st day of November, 2019 I declare that this instrument is my last Will, that I am of the legal age in this jurisdiction to make a Will, that I am under no constraint or undue influence, and that I sign this Will freely and voluntarily.

    _____________________
    ____________________

WITNESSES

This instrument was signed on the above written date by ____________________, and in our presence the Testator declared this instrument to be their last Will. At the Testator's request and in the presence of the Testator, we subscribe our names as witnesses hereto. Each of us observed the signing of this Will by ____________________ and by each other subscribing we witness and affirm that each signature is the true signature of the person whose name was signed. Each of us is now the age of majority, a competent witness and resides at the address set forth after their name.

To the best of our knowledge, the Testator is of the age of majority or otherwise legally empowered to make a Will, is mentally competent and under no constraint or undue influence.

We declare under penalty of perjury under the laws of the Commonwealth of Australia that the foregoing is true and correct this 21st day of November, 2019, at __________, Australian Capital Territory.

Signed by ____________________ in our presence and then by us in their presence.

Signature

_______________________

 

Signature

_______________________

Name

_______________________

 

Name

_______________________

Address

_______________________

 

Address

_______________________

 

_______________________

   

_______________________

City/Town

_______________________

 

City/Town

_______________________

Postcode

_______________________

 

Postcode

_______________________

Last Will and Testament Information

Alternate Names:

A Last Will and Testament is also known as a:

  • Will
  • Last Will
  • Will and Testament

What is a Last Will and Testament?

A Last Will and Testament is an important estate planning document that individuals use to outline how they wish their estate to be distributed after they pass away.

A Last Will is often used to communicate essential instructions as well, such as who will retain custody of children or pets, who will take over management of a business, and more.

LawDepot's Last Will and Testament can be used in:

  • Australian Capital Territory (ACT)
  • New South Wales (NSW)
  • Northern Territory (NT)
  • Queensland (QLD)
  • South Australia (SA)
  • Tasmania (TAS)
  • Victoria (VIC)
  • Western Australia (WA)

What are some of the terms found in a Last Will and Testament?

Some of the most common terms found in a Last Will are:

  • Estate: Estate is a person's total net worth or the sum of their assets (or property) minus any debts or liabilities they may have.
  • Asset: Assets are things of value, such as money, personal property, real estate, and more.
  • Liability: Liabilities are also known as legal or financial debts or obligations; this could include credit card debts, mortgages, loans, and more.
  • Testator: Testator is used to describe the person who created the Last Will and who has passed away; in some instances, this person may be called the deceased or decedent.
  • Executor: Executor, sometimes called a personal representative, is the person who executes the Last Will, meaning they distribute any assets, handle debts, and ensure important instructions are followed, such as instructions to do with child guardianship.
  • Beneficiary: Beneficiary is a term that is used to describe people, organisations, or charities who are being gifted something in a Last Will; typically, a beneficiary is gifted an asset (like an item or money) or the residue of the person's estate.
  • Witness: Witness refers to the individual who watched the testator sign the Last Will; witnesses help prove the testator's signature is legitimate and that they intended to sign their Last Will in the event it is contested.
  • Bequeath: Bequeath is a term that means to gift something to a beneficiary by way of Last Will.

Do I need a Last Will and Testament?

No matter your situation, creating a Last Will helps you to communicate your final wishes to your friends and family about how to distribute your property, pay off any debts, handle business or family needs, and more.

A Last Will is especially important for individuals who:

  • Have a lot of assets that will need to be divided between beneficiaries
  • Have been diagnosed with a potentially life-threatening or terminal illness
  • Are experiencing chronic problems with their health
  • Are reaching old age

If you pass away without creating a valid Last Will, your estate is divided based on intestacy laws and your property may not be given to the beneficiaries you would have chosen.

What happens if I die without a Last Will?

When a person passes away without a valid Last Will in place (i.e. they died intestate), their property is distributed according to state or territorial mandated intestacy laws. This results in distribution being dependent on a number of factors, such as whether or not you had children, were in a relationship (i.e. you were married or in a de facto relationship), had any other living relatives (such as parents or grandparents), etc.

Because an intestate person's estate is distributed to their heirs based on state or territorial law, they risk having important instructions overlooked or their estate being divided differently than they would have divided it. For example:

  • A guardian the deceased may not have chosen could be appointed to care for children or pets
  • Property may be gifted to a person the deceased may not have wanted to include as a beneficiary (such as an ex-husband or ex-wife they have separated from but not divorced)
  • Assets may not be gifted to a certain person (like an aunt, cousin, or a child they were in the process of adopting)
  • Certain individuals (such as unmarried partners, individuals who are related by marriage, caregivers, or close friends) may not have any inheritance rights (meaning they would not receive anything from the deceased's Last Will, nor would they be able to make a claim to the court regarding inheritance)
  • Charities the deceased wanted to donate to using estate money (a concept called legacy giving) may not get anything

Is a Last Will and Testament legally binding?

For a Last Will and Testament to be considered valid, certain requirements must be met, including:

  • The decedent needs to be a legal adult (meaning they are above the age of majority in their jurisdiction) and of sound mind (meaning they have the mental capacity to sign legal documents for themselves)
  • The testator was not pressured into creating their Last Will or into gifting assets to a certain beneficiary (a concept known as undue influence)
  • The Last Will has been properly executed, which means it has been signed and witnessed

If a Last Will is not completed properly, it may be considered invalid. In some instances, however, even a valid Last Will can be contested (i.e. disputed in court) if someone (like a beneficiary, executor, unnamed heir, etc.) believes the Last Will wasn't written properly or that the deceased was pressured into creating it.

Related Documents:

  • Codicil: an addendum to a Last Will that allows someone to add or change parts of their Last Will without creating an entirely new document
  • Power of Attorney: a document that authorises another individual to act on your behalf and handle your finances, business needs, and more
  • Revocation of Power of Attorney: a document that revokes an individual's authority to make decisions on another person's behalf
  • Child Medical Consent: a consent form that allows parents to give another individual the authority to approve medical treatment for their child
  • Child Travel Consent: a consent form that allows guardians to authorise travel for their child, either alone or with a chaperone

Frequently Asked Questions:

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