Suggested will example wording to take to your solicitor
Your solicitor or estate planner is the best person to provide independent legal advice, based on your individual circumstances and estate needs.
We cannot provide you with specific legal advice. However, here is some will example wording you may consider with your legal advisor when you are preparing or updating your will to include MS Plus, if you wish.
Residual gift wording
You can give the residual or remainder (as a whole or portion) of your estate after other gifts, debts and taxes have been fulfilled, example wording could include:
“I give the remainder of my estate to MS Plus Ltd (ABN 66 004 942 287) for its general purposes and I declare that the receipt of the Secretary or other proper officer shall be an absolute discharge to my trustee who shall not be bound to see the application of this gift.”
Specific gift wording
You can give particular items, such as property, shares, life insurance funds, particular assets such as jewellery or artwork and/or a fixed percentage of your estate to MS Plus Ltd to be used for general purposes, example wording could include:
“I give the sum of $______ (or percentage or a description of the specific asset) to MS Plus Ltd (ABN 66 004 942 287), for its general purposes and I declare that the receipt of the Secretary or other proper officer shall be an absolute discharge to my trustee who shall not be bound to see the application of this gift.”
Family first gift wording
Use this language if you wish to make a family first (contingency) gift. Then MS Plus Ltd will receive a portion of your estate if your named beneficiary does not survive you:
“In the event that [insert name] does not survive me, I give the sum of $______ (or percentage or a description of the specific asset) to MS Plus Ltd (ABN 66 004 942 287), for its general purposes and I declare that the receipt of the Secretary or other proper officer shall be an absolute discharge to my trustee who shall not be bound to see the application of this gift.”
Life interest gift wording
Use this language if you wish to make a Life Interest gift. MS Plus Ltd will receive the title in the real estate property when your spouse or loved one using it passes away. You might want to use wording similar to:
“I give my interest in the or freehold possession known as [#ADDRESS] unto [#Insert spouse/ partner/children’s name] for [his/her/their] life, [she/he/they] paying all taxes and other outgoings and keeping the same in good repair and insured against all reasonable risks to the full value thereof as my Trustees shall approve and from and after the death of the said [#Insert spouse/partner/children’s name] I give the same unto MS Plus Ltd (ABN 66 004 942 287) absolutely for its general purposes and I declare that the receipt of the Secretary or other proper officer shall be an absolute discharge to my trustee who shall not be bound to see the application of this gift.”