A simple will is usually one which includes a bequest of a person’s entire estate to one person or to a few nominated beneficiaries in specified shares. Sometimes it will make a bequest of some key assets (such as a house and superannuation) between some nominated beneficiaries.
For example, simple wills that we most commonly prepare are wills for a husband and wife whereby they leave everything to each other and then the survivor of them will leave everything to their children in equal shares.
This type of will is generally inexpensive to prepare and can be helpful to avoid unintended or unwanted consequence of laws regarding distribution to personal estates on intestacy.
Simple wills can be prepared very quickly and are often entered by someone who has not had a will prepared but is embarking on travel or undertaking work which may entail risk and want to ensure that they have something in place in a short time frame.
A simple will can also be useful in circumstances where a person or a couple are contemplating complex will preparation and need additional financial planning, accounting and legal advice and want to put something in place while this process is going on.