Simple Testamentaryreciprocal Will

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SIMPLE TESTAMENTARYRECIPROCAL WILL

FULLSERVICEORDERFORM

This Will is a Simple TestamentaryReciprocal Will and allows for a limited range of options. It is suitable for couples that hold personal assets only, wish to establish a testamentary trust for their residual estate in the same way and have only absolute gifts of money or personal items. Should you require a more advanced Will that incorporates more than one testamentary trust, provisions for, Superannuation Proceeds, a Company, Trust and / or gifts of specific assets such as real estate or should the options in this order form not meet your requirements please refer to another Simple Will Order Form, an Advanced Will Order Form or contact Topdocs Legal to discuss your needs in further detail.

What you are required to do to order your Document:

1.Complete this order form

2.Mail, fax or email this form to Topdocs
Address: Suite 2, Level 2, 22 Albert Road South Melbourne VIC 3205; Fax: (03) 8256 0108 ;
Email:

SECTION A (I): PERSON/ADVISER ORDERING DETAILS

Name: / Signature:
Company Name:
Postal Address:
Date Of Order: / / / Your Ref:
Phone:() - - / Fax:() - -
Email:

SECTION A (II): PAYMENT DETAILS

Enclosed is payment for a Simple Testamentary Reciprocal Will for the sum of: $
Direct Debit* / Visa / Mastercard / Cheque
Card Holder Name:
Credit Card Number: - - -
Expiry Date: / / Authorised Card Signature:

*TopaybyDirectDebityoumusthaveacurrentDirectDebitagreementwithTopdocs.IfyouwouldliketoarrangeforDirectDebitforfuture purchasespleasecontactTopdocson1300659242

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INDEX

DESCRIPTION / SECTION / PAGE / SCHEDULE
Personal details / Section B
Will Maker details / B(i) / 3 / -
Family Structure / B(ii) / 3 / 1 - Additional children
Executors and Trustees / Section C
Appointment of initial executors and trustees / C(i) / 4 / 2A -Additional executors and trustees
Appointment of substitute executors and trustees / C(ii) / 4 / 2B - Additional substitute executors and trustees
More than one executor and trustee / C(iii) / 5 / -
Whole Estate / Section D / 6 / -
Residuary Estate / Section E
Testamentary Trust – Beneficiaries / E(iv) Part A / 7 / 4A - Additional nominated beneficiaries of trust
Testamentary Trust – Trustees and Appointors / E(iv) Part B / 7 / 4B –Additional Trustees and Appointors
Gifts / Section F
Specific Bequests – Will Maker 1 / F(i) / 9 / 5A - Additional specific gifts
Specific Bequests – Will Maker 2 / F(ii) / 9 / 5B - Additional specific gifts
Funeral Instructions / Section G
Funeral Instructions – Will Maker 1 / G(i) / 10 / -
Funeral Instructions – Will Maker 2 / G(ii) / 10 / -
Guardians / Section H / 11 / 6 - Additional guardians and alternate guardians

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SECTION B (I): WILL MAKER DETAILS

Will Maker 1 Details
Name
Address
State:
Gender / Male / Female
Date of birth: / / /
Occupation
Will Maker 2 Details
Name
Address
State:
Gender / Male / Female
Date of birth: / / /
Occupation

SECTION B (II): FAMILY STRUCTURE

Where you provide details here you do not need to repeat all details in other the remainder sections

Children Details (if applicable): If you have more than one child please provide details inSCHEDULE 1.
How many children do you have?
1 / Full Name:
Address:
Date of Birth: / / /
Gender: / Male / Female
Occupation:

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SECTION C (I): EXECUTOR OF WILL AND TRUSTEE OF ESTATE

You must nominate at least one Executor and Trustee.

NOTE: Your Executor/s will apply for probate, ascertain your assets, pay debts, distribute any gifts (either to a beneficiary absolutely or to your Trustees to hold on trust until the gift vests in a beneficiary absolutely) and the remainder of your estate will be paid by your Executor in according to your directions in Section E.
NOTE: For the Topdocs Simple Testamentary Reciprocal Will your Executors will also be the Trustees of your estate. If there is more than one nominate they will act JOINTLY.
Will your Spouse/Partner be the sole Executor of your Will and Trustee of your estate? / Yes
Refer to Section C(ii) for nomination of Substitute Executor/s and Trustee/s / No
Nominate your Executor/s and Trustee/s below

If you wish for more than one provide details in SCHEDULE 2A.

Name
Address
Relationship to the Will Maker
Gender / Male / Female
Occupation
ACN: (if applicable) / / /

SECTION C (II): SUBSTITUTE EXECUTOR/TRUSTEE

You should nominate a substitute person/s in the event that your Executor/s and Trustee/s predecease you or are unable or unwilling to act.

NOTE: For the Topdocs Simple TestamentaryReciprocal Will your Substitute Executor/s and Trustee/s will act ONLY in the event that ALL preceding Executors/Trustees are unable to act and they will act JOINTLY with any other substitute executors/trustees.

If you wish for more than one provide details in SCHEDULE 2B.

Full Name
Address
Relationship to the Will Maker
Gender / Male / Female
Occupation
ACN: (if applicable) / / /

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SECTION C (III): MORE THAN ONE EXECUTOR/TRUSTEE / MORE THAN ONE SUBSTITUTE EXECUTOR/TRUSTEE

Where more than one executor/s or trustee/s is named in your Will they will act JOINTLY. However disputes may arise and it is therefore important to specify how decisions be made in these circumstance.

DISPUTES:
Majority decision prevails
Executors/Trustee must first consult with / Full Name
Address
Relationship to Will Maker
Occupation: (if applicable)
Gender : (if applicable) / Male / Female
ACN: (if applicable) / / /
THEN (belowselect up to one method only):
Decision of the eldest Executor/Trustee prevails
Decision of a nominated Executor/Trustee prevails / Full Name
Address
Relationship to Will Maker
Occupation: (if applicable)
Gender : (if applicable) / Male / Female
ACN: (if applicable) / / /
Executors/Trustees are to use an Alternative Dispute Resolution (ADR) procedure to resolve the dispute / Which ADR procedure?
Mediation
Arbitration
Mediation then Arbitration
Will the ADR costs to be borne by your estate?
Yes No
Who will appoint the Arbitrator/Mediator?
the President of the relevant state/territory law institute
Other. provide full details below
Full Name
Address
Relationship to Will Maker
Occupation: (if applicable)
Gender : (if applicable) / Male / Female
ACN: (if applicable) / / /

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SECTION D: WHOLE ESTATE

You can deal with your estate either as a whole or in parts according to specific gifts (Section F) and the residual (Section E).

Will your Spouse/Partner be the sole beneficiary of your whole estate? / Yes
Complete Section E(iv) below should your spouse/partner predecease you / No
Complete Section F (if any gifts are to be made) and Section E below for distributions from residual estate

SECTION E: RESIDUAL ESTATE

Your Residual Estate is your estate after expenses and specific gifts (Section F) have been paid out.

This section provides for you to select that all your remaining assets go to your spouse/partner.
If you do not have a spouse/partner, your spouse/partner predeceases you or if your spouse/partner is not to receive the residual of your estate, a discretionary testamentary trust will be established to receive your residual estate for your beneficiaries in Section E(IV).
Will your Spouse/Partner be the sole beneficiary of your residual estate? / Yes
Complete Section E(iv) below should your spouse/partner predecease you / No
Complete Section E(iv) below for initial distributions from residual estate

Note: Section E(i) – E(iii) are for the Standard Wills and are not relevant for Testamentary Trust Wills.

SECTION E (IV): TESTAMENTARY TRUST

A testamentary trust is simply a trust created in a Will or with money or other assets that came from a deceased estate. The trust comes into effect on the Will maker’s death. A testamentary trust can take many forms but a common one is a discretionary testamentary trust.
Testamentary trusts are designed to provide maximum flexibility and allow for tax-effective distribution of capital and income as well as providing possible protection of your beneficiaries from third parties such as creditors. With optimum allocation of income and capital via the trust, this may also permit beneficiaries to qualify for aged, disability and sole parent pensions, Austudy or the like, for which they would otherwise not have qualified under a normal inheritance.
The incorporation of testamentary trusts into a Will is not relevant to every situation but in many cases they offer valuable advantages over simple Wills. You should strongly consider including a discretionary testamentary trust if:
• your estate will include, or is likely to be converted into,
oa substantial sum of money or
o income producing investments;
• you would leave all or a substantial part of your estate to an adult beneficiary who has children under 18; and
• there is a reasonable possibility of that beneficiary investing the gift they receive to earn income over a period (rather than spending it all on non-income producing assets – such as a house to live in – or to pay down debt)
NOTE: For the Topdocs Simple Testamentary Reciprocal Will the testamentary trust established will be a discretionary trust.
Name of Trust

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PART A: BENEFICIARIES

Select the initial beneficiaries of your estate (or if your spouse/partner is to receive the whole or residual of your estate in the first instance, the beneficiaries of the testamentary trust should your spouse/partner predecease you).

my spouse/partner as primary beneficiaries
your children (if any) will be general beneficiaries and be able to benefit from the trust. Should your spouse re-marry or have further children after you pass away, that partner and any children from that partnership will also be entitled to benefit from the trust; OR
my spouse/partner as primary beneficiaries and my children equally as secondary beneficiaries
should your spouse re-marry or have further children after you pass away, that partner and any children from that partnership will also be entitled to benefit from the trust, however after your spouse dies, your children will gain control of the trust and be entitled to the trust fund in default of any prior appointment by the trustee; OR
my childrenas primary beneficiaries
your spouse/partner, if you have one, will be a general beneficiary and be able to benefit from the trust and will have the right to reside in any house for CGT purposes. Should your spouse re-marry or have further children after you pass away, that partner and any children from that partnership will also be entitled to benefit from the trust, however after your spouse dies, your children will gain control of the trust and be entitled to the trust fund in default of any prior appointment by the trustee; OR
I wish to nominate the following person/s as primary beneficiaries
all nominated beneficiaries will be entitled to the trust fund in equal shares in default of any prior appointment by the trustee
1 / Nominated Beneficiary: If you wish for more than one Nominated Beneficiary provide details inSCHEDULE 3A.
Name
Address
Relationship to the Will Maker
Occupation
Gender / Male / Female
Equal share, % or specified amount of Residual Estate this trust is to receive / Equal
Specified proportion: %
Specified amount: $
PART B: TRUSTEE AND APPOINTOR:
The Trustee will have legal but not beneficial title to the assets distributed to the trust. It will hold, manage and administer the funds and assets on trust according to the terms of the trust deed with the usual powers of investment.
The Appointor of the trust has the power to appoint and remove trustee so ultimately has control of the trust. They are appointed as a means of protection.
Will the trustee of your estate be the Trustee/s and Appointor/s of this trust? / Yes / No - complete trustee/appointor and successors (if any)
Control Age:
The Appointor will control and protect the trust until their death or they become unable or unwilling to act, upon which the primary beneficiaries (or secondary beneficiaries if there are any) will become the Appointors jointly. If there is a possibility that they will be minors then you should specify an age that they must attain to take control (or if there is more than one, when the youngest of them turns that age.) / What is the control age for the primary/secondary beneficiaries on the death, resignation or incapacity of the initial Appointor? / years old

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NOTE: For the Topdocs Simple Testamentary Reciprocal Will, if there is more than one trustee or more than one appointor they will act jointly and the substitutes will only act if ALL preceding trustees or appointors (respectively) are unable or unwiling to act.

For more than one trustee/appointor or substitute trustee/appointor complete SCHEDULE 4B.

TRUSTEE
Full Name
Address
Relationship to Will Maker
Occupation
Gender / Male / Female
ACN: (if applicable) / / /
SUBSTITUTE TRUSTEE
Full Name
Address
Relationship to Will Maker
Occupation
Gender / Male / Female
ACN: (if applicable) / / /
APPOINTOR
Full Name
Address
Relationship to Will Maker
Occupation
Gender / Male / Female
ACN: (if applicable) / / /
SUBSTITUTE APPOINTOR
Full Name
Address
Relationship to Will Maker
Occupation
Gender / Male / Female
ACN: (if applicable) / / /

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SECTION F (I): SPECIFIC GIFTS/BEQUESTS – WILL MAKER 1

If you would like to gift specific assets to particular people or entities, please record the details in this section, otherwise leave this section blank.

Specific Gift 1: If there is more than 1 specific gift provide details inSCHEDULE 5A.
Name
Address
Relationship to Will Maker
Occupation
Gender / Male / Female
Specific Bequests / Money: $
Art, Collectables & Jewellery: / (item description)
Household Items: / (item description)
Personal Items: / (item description)
Proportion if not 100% / %
Vesting Age / Is this conditional on the beneficiary attaining an age greater than 18? / Yes / No
If YES: Specify age: years old
NOTE: VESTING AGE: If a beneficiary has not reached the age of majority (18 years old in most states/territories) or you have specified an age greater than 18, the gift will then be held ON TRUST until the beneficiary attains that age.
In the Topdocs Simple Testamentary Will the executors and trustees of your estate will be the trustee of this trust. For gifts of money the trustee will still have the power to make advances from that beneficiary’s share of the residual estate to that beneficiary before the vesting age?

SECTION F (II): SPECIFIC GIFTS/BEQUESTS – WILL MAKER 2

If your spouse/partner is making a reciprocal Will and your spouse/partner would like to bequest specific assets to particular people or entities, please record the details of their specific bequests in this section. Otherwise leave this section blank.

Specific Gift 1: If there is more than 1 specific gift provide details inSCHEDULE 5B.
Name
Address
Relationship to Will Maker
Occupation
Gender / Male / Female
Specific Bequests / Money: $
Art, Collectables & Jewellery: / (item description)
Household Items: / (item description)
Personal Items: / (item description)
Proportion if not 100% / %
Vesting Age / Is this conditional on the beneficiary attaining an age greater than 18? / Yes / No
If YES: Specify age: years old

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SECTION G (I): FUNERAL INSTRUCTIONS – WILL MAKER 1

If you would like to indicate how your body is to be dealt with complete this section. These wishes should be made known to your executors/trustees and close family members prior to your death and you may wish to keep additional instructions regarding this with your Will and other papers.

According to your written wishes or otherwise at the direction of the Executors
Buried:
(optional)
near where I die
at the following location:
Cremated:
(optional)
ashes to be deposited at the following location:
ashes to be scattered over the following location:
Use of body(optional) / body available for anatomical, therapeutic, medical or scientific purposes
body donated for education research or other medical or scientific purposes.
Specify hospital or university (optional):
use of body is strictly NOT allowed
I wish to be an organ donor (optional) / Yes / No

SECTION G (I): FUNERAL INSTRUCTIONS – WILL MAKER 2

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SECTION H: GUARDIANS

If you wish to nominate a Guardian or Guardians in relation to your children (if one or more are under 18 at the time of your death) complete this section.

Guardian
Name
Address
Relationship to the Will Maker
Occupation
Guardian 2
Name
Address
Relationship to the Will Maker
Occupation
When / How to act / Jointly
(this is NOT recommended if there is likely to be disputes with the first mentioned Guardian) / Alternate

If you wish to select additional Guardians or Alternate Guardians provide details at SCHEDULE 6.

Support for Guardian(s)
Express wish for Guardians not to suffer from financial burden? / Yes / No
Express power for the Executor to provide loans to Guardians? / Yes / No
Is annuity to be paid to Guardian? / Yes
Amount: $
Frequency:
(e.g. weekly, monthly, yearly) / No

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SCHEDULE 1 - Additional Children

(Section B(ii))

2 / Full Name:
Address:
Date of Birth: / / /
Gender: / Male / Female
Occupation:
3 / Full Name:
Address:
Date of Birth: / / /
Gender: / Male / Female
Occupation:
4 / Full Name:
Address:
Date of Birth: / / /
Gender: / Male / Female
Occupation:
5 / Full Name:
Address:
Date of Birth: / / /
Gender: / Male / Female
Occupation:
6 / Full Name:
Address:
Date of Birth: / / /
Gender: / Male / Female
Occupation:
7 / Full Name:
Address:
Date of Birth: / / /
Gender: / Male / Female
Occupation:
8 / Full Name:
Address:
Date of Birth: / / /
Gender: / Male / Female
Occupation:

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