FeaturesTypical Basic WillLiberty Law
Standard Will
Liberty Law
Smart Will
Revocation of any previous wills
Appointment of executor/s
Nomination of guardian/s For young children
Enables special gifts to nominated people
Nomination of how balance estate is distributed amongst specified beneficiaries
Some basic executor powers to assist with administration of estate
More extensive executor powers to address contingencies and provide flexibility  (?)
Provisions to enable adjustment of beneficiary entitlements  (?)
Right of residence held by certain beneficiary to occupy deceased’s primary residence   (?)
Provisions to assist with transmitting control of discretionary trusts (if applicable) to desired person/s. (?)
Executor guidance brief
Liberty Law Beneficiary Legacy Pack
Full comprehensive executor powers
Full modern discretionary trust/s created under will to benefit nominated beneficiaries and give them flexibility in the management of their inheritance
Takes advantage of special tax concessions available to beneficiaries of trusts created under a will – to legally minimise the tax payable by estate beneficiaries
Enables asset protection by ensuring a beneficiary’s inheritance is unavailable to creditors that make a claim against the beneficiary
Assists with keeping a will-maker’s assets in the family by helping to shield a beneficiary’s inheritance from claims by their estranged spouse or partner
As required, ensures a vulnerable beneficiary (for example a spendthrift or drug dependant person) only has limited access to capital to ensure a long lasting nest egg is preserved
Creates a superannuation proceeds will trust  (?)