Is a will alone, enough?

Understanding what assets are not covered by your will.

Key takeaways

• Having a will is an important part of protecting your beneficiaries – but you may need more.
• Some assets, including superannuation, jointly held property and assets held by a trust or company may not form part of your estate.
• A properly considered estate plan will help you ensure your wishes can be carried out, even for assets that will not be covered by your will.

Which assets can you include in your will?

Your will can deal with assets you own in your sole personal name. Typically, these include investments and bank accounts in your name alone (including business bank accounts if you are a sole trader); motor vehicles registered in your name; personal items and real estate where you are the sole owner for all or a set proportion of the property.