Are there any assets that cannot be covered in my Will?

There are many assets which cannot be covered in a Will. These include:

Assets that are held jointly such as bank accounts, shares and property as joint proprietors, automatically pass to the surviving joint owner via survivorship laws.
Superannuation will also not form part of an estate unless the deceased nominated their estate as the beneficiary, or the trustee of the superannuation company makes a decision to pay it to the estate.
Property that is held in trust passes according to the terms of the applicable trust deed.
Shares in private companies generally cannot be given via a Will.
Proceeds of life insurance policies will pass via a beneficiary nomination made by the policy owner.
Capital guarantee deposits generally have a nominated beneficiary and cannot be given by a Will
Property that has been sold but not yet transferred.

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