Important components of a will

When constructing a Will it is valuable to consider all the possible scenarios and resulting consequences of your estate planning arrangements.

For example, when a couple die together the older individual is usually deemed to have died first, but this may depend on the rules for each state or territory. Some states or territories may require the younger person to survive for a set number of days for that person to inherit anything under the older person's Will. Let’s look at how this might play out if the younger person is deemed to survive and qualify for an inheritance.