Is the will generated by the Will Wizard legally binding?
Once signed by you and your witnesses, the will becomes legally binding. Should you generate another will, or get an alternative will somewhere else, the most recently signed document will supersede all others.
What’s in the generated will?
The will generated by the Will Wizard is created using a template provided by specialist law firm View Legal (valued at $300). For more information about View Legal, visit https://viewlegal.com.au/.
How can I add beneficiaries who aren’t my children or my spouse?
The current will template doesn’t support adding other beneficiaries.The wizard will nonetheless collect your responses and, if enabled, generate a will for you, or contact your adviser so they can introduce you to a law firm who can assist you in getting a suitable will.
Why can’t I see the 'Organise my will' or the 'Generate my will' tabs?
A will won’t be allowed to be generated by the wizard unless your financial professional has enabled the feature. Contact your financial professional to discuss the feature.
Why is the wizard saying that the will generated likely isn’t suitable for my needs?
The will provided through the wizard is only appropriate for a set number of scenarios. In instances where the template isn’t the right fit for your personal situation, the wizard will generate the will and let you know you may need further legal assistance.
Some people may find having a will - even if not quite suitable - is better than not having a will at all. Whether to sign it or not depends entirely on your personal situation and is completely up to you. The generated wills are not legally binding unless they are signed and witnessed so you can choose to disregard the generated will entirely.
Why are there multiple wills?
If the will generation feature is enabled, every time you go through the Will Wizard a new will is generated. As a result, you may have multiple will entries. Only the most recently signed and witnessed will however is legally binding.
Please note: succession laws vary between states. Please ensure you carefully review the will before signing it and check with a lawyer if you think you need a more specialised service.