Does a Will Cover Everything? What Sits Outside It

Making a will is one of the most important things you can do for your family. But many Australians assume that once the will is signed, everything is sorted. In practice, several significant things often sit outside the will entirely, following their own rules.

Superannuation

Super is usually not part of your estate. Unless you have a valid binding nomination with your fund, the super trustee typically decides who receives your death benefit. We cover this in detail in what happens to your super when you die. The short version: check your nominations, and check them again every few years.

Jointly owned assets

How an asset is owned matters as much as what the will says. Property and bank accounts held as joint tenants generally pass straight to the surviving owner, outside the will. Property held as tenants in common works differently, with each person's share forming part of their own estate. Many couples do not know which way their home is held, and the difference can change how an estate plays out. Ownership rules and their effects can vary, so this is a worthwhile question for a solicitor.

Life insurance

A life insurance policy with a nominated beneficiary typically pays that person directly, outside the will. Insurance held inside super adds another layer, because it follows the super rules above. Knowing what policies exist, where they are held and who is nominated is half the battle.

Trusts and business interests

Your digital life

This gap gets bigger every year, and a Will says nothing about it. The phone nobody can unlock, the passwords, the photos in the cloud, the email that every other account resets back to, the subscriptions still quietly charging a card. Most phones now let you set up a legacy or trusted contact in advance, which is worth doing.

Your wishes

Burial or cremation, organ donation, the songs, the readings, the small personal things. When these are not written down, families do not just guess, they agonise over getting them right. A few lines from you takes that weight off them.

The people to call, and your instructions

Who do they actually phone? The accountant, the solicitor, the adviser, the guardian for the children or the pets. These human contacts make everything faster, and right now they often live only in one person's head.

Related guides

Keep reading: What happens to super when you die, your online accounts and passwords, the funeral wishes conversation, and what does an executor do?

Assets held in a family trust or through a company structure generally do not pass under a will, because legally they belong to the trust or company rather than the person. If any of your assets live inside a structure like this, succession needs its own planning with a professional.

So what is the will for?

Plenty: the estate assets, your wishes, guardianship of children, and who administers it all. The point is not that wills matter less. It is that a will is one document in a bigger picture, and the people left behind need the whole picture: what exists, how it is owned, where it is, and who to call.

Put the whole picture in one place

A solicitor handles the legal corner. The Estate Organiser handles the rest: one document where your family can find the accounts, policies, super funds, ownership details and wishes that the will alone does not capture. And if you are the one sorting out an estate right now, start with the free Executor Toolkit.

Download the free Executor Toolkit here.

Educational content only. Not legal, financial or tax advice. Estate laws vary across Australian states and territories. Always consult a qualified professional about your specific situation.

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Educational content only. This is general information, not legal, financial or tax advice. Estate laws vary across Australian states and territories. Please speak to a qualified solicitor or adviser about your situation.