Wills: nominating a replacement beneficiary

For your residuary estate, it’s a good idea to also name a replacement (or substitute) beneficiary this is particularly important if you have left your estate to one person, for example your partner.

This is simply a backup choice. If your named beneficiary is not able to receive the inheritance - for example if they pass away before you - your estate won’t risk falling into intestacy*. Instead, it will go to the replacement person you’ve chosen.

By adding a replacement, you make sure your wishes are always followed and things stay simple for your executors and loved ones.

Simply click the Nominate a replacement beneficiary button in the Estate section and enter the replacement's name and details.

* Intestacy is a legal term related to someone passing away without a Will, or in this case refers to the rules the law applies when there’s no clear instruction to what happens if a gift fails.