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Robert Coulter, General Manager, Partnerships
WELCOME
Today’s webinar
• 1 Hour CPD available – AFA will send details within the next week.
• As a webinar attendee you are on ‘mute’ during the webinar
• Questions will be answered at the end of the presentation. Please use the Zoom QA function (not the Chat function) to ask your question.
Estate Planning in an ever changing
digital environment
September 2020
Commercial in Confidence and the property of Your Wills Pty Ltd
Aruna Wickremasingha BioAruna Wickremasingha, Co-Founder of Your Wills
• Diploma, Financial Services (Superannuation)
• Bachelor’s degree (Business, Banking and Finance)
• Postgraduate (Accounting)
Aruna has worked in Australia and the United Kingdom primarily in financial markets working closely with
accountants, financial advisers and mortgage brokers.
Technology has made our lives more convenient. We’re ordering our food, our designated drivers, our
groceries online. We use technology to line up a date and in the same breath we book a table to dine with
them. Every day there’s something new to replace an old way of doing a crucial thing that was hard to do
and it’s on this premise we created Your Wills.
Your Wills is removing the stigma and confusion that seems to surround the topic of making of a Will.
Think about it this way. Just like you want to safeguard your house or your car with insurance, making a
Will is a way to ensure that when you pass away, your family and loved ones are taken care of and your
wishes are followed.
Commercial in Confidence and the property of Your Wills Pty Ltd
Synopsis
Innovation has never moved at a faster pace – which, in part, can be
attributed to the challenges associated with COVID-19.
We are finding that there has been a seismic acceleration towards
digital first solutions that are easy to use and provides a direct
compliant solution to your client. This enables clients to get the
outcome they want, at their convenience with our plug and play Will
software solution that is:
• User directed
• Timely
• Cost effective
• Compliant and user friendly
Synopsis
Key presentation highlights:
• Who is Your Wills
• Summary of key definitions
• Financial Wellness
• How it Works
• Will Package Options
• Social focusing on key life events – trigger points for doing your Will
• Gift In Wills
• AFA10 code for 10% off when completing your Will
• Legal Support for a complicated situation
• User directed – tour of Will software
Learning Outcomes
Learning Outcomes:
• Estate planning back to be basics – being informed
• Ability to provide a direct complaint solution to client:
• Living Will
• Timely
• Cost effective
• User friendly
• Assists with intergenerational generational wealth solution.
• Ability to identify and gaps with insurance and superannuation that require
review.
• Assist with regulatory compliance and mitigated brand damage in the eyes of
families and loves in the case there is no Will.
• Will software tour.
Who are Your Wills?Your Wills is an Australian based online digital Retail Platform,
Enterprise Solution to create a legally binding Will. Your Wills is
made for everyday Australians and is here to make the conversation
approachable, the process simple and debunk the stigma that
surrounds the topic of making aWill.
Your Wills Your Way
References please see page 51.
Definitions – back to basics
Probate is the certificate which is
granted by the Supreme Court in each
State and Territory in Australia.
Probate can only be acquired where
the deceased has a valid Will, and
gives the Executor the legal right to
administer (distribute subject to
specific rules) the estate on behalf of
the deceased. If you die without a
valid Will, your next of kin will need to
apply for Letters of Administration
with the Supreme Court. This can be a
lengthy and costly exercise.
Definitions – back to basicsAn Executor is the person/s you
select to manage your affairs
when you’re gone.
Your Executor should be
someone that you expect will
outlive you, is trusted by you, is
of sound mind and body, 18+years of age and has been
advised by you and accepted
that they will be your Executor.
The State Trustee may be able
to charge your estate an
administration fee of up to
5.5%* of the gross value of
assets of your estate in order to
provide an Executor-style service.
Definitions – back to basicsAn Executor is the person/s you
select to manage your affairs
when you’re gone.
Your Executor should be
someone that you expect will
outlive you, is trusted by you, is
of sound mind and body, 18+years of age and has been
advised by you and accepted
that they will be your Executor.
The State Trustee may be able
to charge your estate an
administration fee of up to
5.5%* of the gross value of
assets of your estate in order to
provide an Executor-style
service.
*In some instances this may be more or slightly less. Please check with your relevant State Trustee.
Definitions – back to basics
• Testator: A male making a Will.
• Testatrix: A female making a Will.
*Please note that by nominating a guardian or guardians in your Will it can provide guidance for your family
and the Court whom you would like to care for your minor children at the time you drafted your Will. A Will is
not binding on a Court regarding whom you choose as a guardian(s) but can provide your family and the
Court insight into what your wishes are.
A guardian* is someone who
has chosen to accept
responsibility for a minor on
behalf of their parent (or
existing guardian). We
encourage you to discuss
guardianship of your children
with those you have
nominated to care for them in
your Will. It’s important for
everyone concerned that your
nominated guardian has
accepted to take on the role
as primary care giver to your
children – “your most precious
assets”. We also strongly
advise you to discuss with
them prior to nominating
them.
Definitions – back to basics
We encourage you to discuss care of your pets
with those you have nominated to care for them
in your Will It’s important for everyone
concerned that your nominated Pet Carer has
accepted to take on the role as primary Pet
Carer for your pets - no one likes surprises!
A Pet Carer is someone who has chosen to accept
responsibility for a Pet on behalf of their existing
owner. When completing your legally recognised Will
online at Your Wills, we have provided the option to
nominate two Pet Carers - just in case your original
nominated Pet Carer does not accept or does not
want the responsibility or changes their consent.
Commercial in Confidence and the property of Your Wills Pty Ltd
Definitions – back to basics
An asset is anything of financial
value owned by an individual or
business. When we talk about
assets in Wills, this refers to bank
accounts, property, shares, life
insurance, cars, boats, crypto
currency, artwork, furniture,
jewellery, the list goes on.
The State Trustee may be able to
charge your estate an
administration fee of up to 5.5%*
of the gross value of assets of
your estate in order to provide an
Executor-style service.
*In some instances this may be more or slightly less. Please check with your relevant State Trustee.
Financial Wellness
Employee & Member Benefits
• No matter where you are in your life cycle,
Your Wills has got you covered all the way.
• Peace of mind and financial security.
• You have worked hard for what you have.
You should have and will have the final say
where your assets go and to who.
• Simple 9 Step Process to make it so easy
for everyone.
• If you die without a Will (intestate) the
State Trustee may be able to charge a fee
of approx. 5.5% of the gross value of assets
of yourEstate.
• Employment offering - taking an active
interest in employee / member’s financial
well-being is the best way to secure long
term success and loyalty for your business.
• Hosted on Amazon Web Service.
• Secured by Sucuri and Sectigo.
• Option to speak with SLF Lawyers for
complicated situation.
• 100% satisfaction guarantee – we stand
behind Your Wills.
Recognises
life events
Peace
of mind
9 easy
step process
Asset
protection
Employment
offering
Anytime,
anywhere
Everyday Australian businesses are looking for ways to enhance
their employment offering to their staff and or membership
base. With a growing trend towards the Lifestyle of Health
and Sustainability (LOHAS), wellness is becoming a hot topic
of conversation among employers today.
Your Wills believes that businesses should be looking holistically
at all forms of wellness including financial wellness to engage
and partner with their staff for long term mutual benefits.
Commercial in Confidence and the property of Your Wills Pty Ltd
Financial Wellness in Uncertain Times
Financial Wellness – An Employee Offering
Client talking points
Retirement
Family
Independent
How Your Wills Works
ST
EP
ST
EP
ST
EP
ST
EP
ST
EP
ST
EP
ST
EP
ST
EP
ST
EP
01> Covers state&
territory laws
> Secure login, canbe
accessed direct or
indirect Google / FB
> Device user-friendly
SELECT STATE
02> Try before you buy
Pay on Completion
YOUR DETAILS
PETS
06> Nominate
acceptedCarer
03> Without an Executor,
the State Trustee
can charge up to
5.5% of the assets
of the Estate
EXECUTORS
BEQUESTS
07> Details on what
is being given to
individuals
> Requests for funeral
arrangements,
(costs taken
from the Estate)
ASSETS & LIABILITIES
04> Ability to divide
assets & liabilities
RESIDUAL OF ESTATE
08> Remainderof
Estatedisbursement
after distribution
of bequests &
testamentary
expenses & funeral
burial plot acquisition
> Secure payment
options –Required
at Step 8, upon
completion of Will
05> Provision for Gift/s for
minors to be specified
> Provision for
guardianship
CHILDREN
REVIEW & SUBMIT
09> Contact supportavailable
post Will completion
> Pop up confirming
completion with PDF
Will download toprint
ANYWHERE – and
have two independant
people over the age of18
witness your signature
> Share a copy of your
Will with yournominated
Executor/s, Lawyer,
Family Member or a
trusted friend
Your employees and members will go through a 9 Step Process.
Commercial in Confidence and the property of Your Wills Pty Ltd
Secure login, can be accessed direct or indirect Google / FB
Covers state & territory laws
Without an Executor, the State Trustee can charge up to 5.5% of the assets of the Estate
Try before you buy
Ability to divide assets & liabilities
Provision for guardianship
Provision for Gift/s for minors to be specified
Nominate accepted Carer
Details on what is being given to individuals
Requests for funeral arrangements, (costs taken from the Estate)
Remainder of Estate disbursement after distribution of bequests & testamentary expenses & funeral burial plot acquisition
Secure payment options –Required at Step 8, upon completion of Will
Pop up confirming completion with PDF Will download to print & certify
Contact support available post Will completion
Will Package Options
https://www.yourwills.com.au/a-financial-wellness-offering-employee-wellbeing/
Social – Your Wills Facebook
Your Wills & West Coast Eagles Football
Club - Luke Shuey “The Future is Family”
https://youtu.be/mhN0HfH4Y6w
How it Works
Bequests ‘Gifts in Wills’ – Step 7
World First - Custom Gifts in Wills Solution
Our Why - Custom Gifts in Wills Solution
‘The Your Wills team members are passionate about their pets.
Their dogs are considered part of the family and after hearing
about all the good work that Dogs Victoria does for the advocacy
of dogs, we saw a great opportunity to do well, by doing good. If
we weren’t around, we’d like to think that our dogs would be
cared for by someone who loves them just as much as us. At the
same time, having the ability to be able leave a gift in your Will to
Dogs Victoria through our Will Program ensures Dogs Victoria
can keep on doing their good work for many years to come’.
How Your Wills can benefit
you and your clients
***USE CODE: AFA10 for 10% discount***
How Your Wills can benefit
you and your clients
***USE CODE: AFA10 for 10% discount***
Have a complicated situation or any legal
questions?
Coming Soon!
• Form of General Non-Enduring Power of Attorney
• Enduring Power of Attorney Appointment
• Advance Health Care Directive
If you have any legal questions about preparing your Will, you can speak to SLF
Lawyers on 1800 848 870. The first 15 minutes of any consultation is at no charge.
Your Wills - Integration
Your Wills - Disclaimer
Your Wills - Step 1
Your Wills - Step 2
Your Wills - Step 3
Your Wills - Step 4
Your Wills - Step 5
Your Wills – Step 6
Your Wills – Step 7
Your Wills – Step 7
Your Wills – Step 8
Your Wills – Step 8 continued
Your Wills – Review & Submit
Commercial in Confidence and the property of Your Wills Pty Ltd
Your Wills – Your Will is on the way!
***USE CODE: AFA10 for 10% discount***
References
52% - Finder.com.au survey of 2,011 Australians.
56% - https://www.contestingwills.com.au/how-many-people-die-without-writing-a-will/
10M - https://www.moneymag.com.au/half-australian-adults-will
25M - https://www.sbs.com.au/news/australia-s-population-ticks-over-to-25m
5.5% - The State Trustee may be able to charge your estate an administration fee of up to 5.5%* of
the gross value of assets of your estate in order to provide an Executor-style service.
What are you waiting for?
Disclaimer
Commercial in confidence Your Will Pty Ltd.
Not for distribution without the written consent of Your Wills Pty Ltd.
Your Wills does not form a solicitor/client relationship. Nor does it constitute legal, taxation or financial advice. Your
Wills is an online platform for people to write their own Will for use in Australian States and Territories. At Your Wills
we recognise that some situations are not always straightforward. If you are at all unsure we recommend you discuss
any matter with a lawyer. These may include and are not limited to; you have a disabled child, you are a part owner
in a business, have a ‘blended family’ with children from a previous relationship, are a beneficiary of a family trust
and own a property overseas and/or have a large volume of assets. Your Wills accepts no responsibility and liability
and is subject to our Terms & Conditions and our Privacy Policy.
Ground Floor, Suite 105,
470 St Kilda Road, Melbourne, VIC 3004
P.O. Box 7206, Melbourne VIC 3004
Phone: +61 3 8415 6622
Email: [email protected]
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Take care of your client’s, staff
and networks and they’ll take
care of your business. It’s as
simple as that.
People will sit up and take notice
of you if you will sit up and take
notice of what makes them sit
up and take notice.
Harry Selfridge
Access to webinar content
• Today’s webinar recording, presentation slides and a CPD assessment quiz will be uploaded to afa.asn.au
• All registrants will receive an email confirming when available
• Get in touch at [email protected] if you have any questions
Thank you for joining us today