3 Things Retirees Should Remove From Their Wills (And What to Do Instead)

Why Your Will Might Be Outdated and What to Do Instead

If you’re a retiree in Australia, chances are you made (or last updated) your will years ago—perhaps when you were still working, the kids were at home, and your super was just a growing pot of money. Life has changed. Your assets, family situation, and even the law have evolved.

The good news? A quick review can save your family thousands in legal fees, delays, and arguments.

Here are three common things retirees should immediately remove from their wills under Australian law. These clauses don’t work, can create confusion, and may even be ignored by the courts or fund trustees. Leaving them in is like leaving outdated software running on your computer—it just causes problems.

1. Any Clause Dealing with Your Superannuation

Why you must remove it Superannuation is not an asset of your estate under Australian law. It is held in trust by the super fund trustee. That means whatever your will says about “my super going to my children” or “split equally between my spouse and kids” has zero legal effect. The trustee decides who gets it (usually based on dependents), unless you have a valid Binding Death Benefit Nomination (BDBN) in place.

For retirees in the pension phase, the situation is slightly different—you can often use a reversionary nomination so payments continue to your nominated partner. But again, that lives with the fund, not in your will.

What to do instead

• Check your super fund statements or MyGov account and lodge (or update) a BDBN.

• Most funds now offer non-lapsing nominations that don’t expire every three years.

• If you want the super paid to your estate (so it flows through your will), you can nominate “your legal personal representative” in the BDBN—but only do this after getting tax advice (super paid to the estate can have different tax outcomes).

  
  

Remove the super clause from your will today. It’s doing nothing except creating false comfort.

2. Any Bequest of Life Insurance Proceeds

Why you must remove it If you’ve named a beneficiary (spouse, child, etc.) on your life insurance policy, the payout goes directly to that person. It bypasses your estate, probate, and your will entirely. Including it in your will is pointless and can confuse executors.

If you haven’t named a beneficiary, the money does fall into your estate—but most policies encourage nominations for speed and privacy.

What to do instead

• Contact your insurer (or check your policy documents) and confirm or update the nominated beneficiary.

• You can even add a contingent (back-up) beneficiary.

• Only if you deliberately want the insurance money to be mixed with the rest of your estate (e.g., to pay debts first) should you remove the policy beneficiary nomination and let it flow through the will.

  
  

Retirees often keep old life insurance policies for mortgage protection or final expenses—make sure the payout goes exactly where you intend without the will getting in the way.

3. Your Share of Jointly Owned Property (Especially the Family Home)

Why you must remove it Most married or de-facto couples own their home as joint tenants. When one dies, the property automatically passes to the survivor under the right of survivorship. Your will has no power over it.

Trying to leave “my half of the house to the children” in your will is completely ineffective and can lead to disappointed beneficiaries and unnecessary family tension.

What to do instead

• If you want to control what happens to your share (e.g., leave it to children from a previous relationship while your current partner keeps the right to live there), you can change ownership to tenants in common. This is a simple transfer at the land titles office (costs vary by state).

• Consider a life interest or testamentary trust clause in your will instead—but only after changing the title first.

• Always weigh the pros and cons: tenants in common can affect Centrelink, capital gains tax, and stamp duty in some states.

  
  

This is especially important for blended families or retirees who want to protect the next generation while caring for a surviving spouse.

Why Retirees Should Act Now

• Your super balance, home value, and family dynamics have probably changed since you last updated your will.

• Probate delays are growing in busy states like NSW, Victoria, and Queensland—removing ineffective clauses makes the process faster and cheaper.

• Tax rules around super death benefits and estate planning have tightened. What worked in 2015 may now cost your family thousands in extra tax.

  
  

Final Tip

Print your current will tonight and highlight every mention of super, life insurance, or the family home. Cross them out (don’t actually mark the original!) and book a 30-minute appointment with an estate planning solicitor. Most firms offer fixed-fee will reviews for retirees, and many will do it remotely.