Last Will and Testament Template

LAST WILL AND TESTAMENT

State Of New South Wales, Australia

I, James T. O'Brien, of 45 George Street, Sydney NSW 2000, in the State of New South Wales, Australia, being of full legal age, of sound mind and memory, and not acting under any duress, undue influence, fraud, or misrepresentation of any person, do hereby declare this to be my Last Will and Testament (the "Will"), made this 25 April 2026, and I hereby revoke all former wills, codicils, and testamentary dispositions previously made by me.

I hereby revoke and cancel all former wills, codicils, and testamentary dispositions of every nature and kind previously made by me. This Will constitutes my sole and entire testamentary expression. I confirm that I have testamentary capacity within the meaning of the Succession Act 2006 (NSW), being: (a) of full legal age; (b) of sound mind; and (c) not under duress or undue influence.

I appoint Sarah J. Mitchell, of Level 8, 1 Chifley Square, Sydney NSW 2000 (my Colleague and trusted friend), as the Executor and Trustee of this Will (the "Executor"), to administer my estate in accordance with this Will. My Executor shall have authority to apply for probate of this Will in the Supreme Court of New South Wales and to obtain letters of administration where necessary. If Sarah J. Mitchell is unable or unwilling to act or to continue to act as Executor, I appoint Michael R. O'Brien, of 12 Collins Street, Melbourne VIC 3000, as Alternate Executor with the same powers, authorities, and discretions.

I grant my Executor the broadest powers and discretions permitted by the Succession Act 2006 (NSW) and the applicable Trustee Act of New South Wales, including without limitation the power to: (a) sell, lease, mortgage, or otherwise deal with any real or personal property forming part of my estate at such price and on such terms as my Executor considers appropriate; (b) invest and reinvest estate assets in any investments a prudent investor would make, having regard to the purposes, distribution requirements, and other circumstances of my estate; (c) pay all just debts, funeral and testamentary expenses, and all estate taxes and duties (including any capital gains tax arising from the deemed disposal of assets at death under Division 128 of the Income Tax Assessment Act 1997 (Cth)) from the general assets of my estate; (d) retain professional advisors, including solicitors, accountants, and financial advisors, and pay their reasonable fees from my estate; (e) distribute my estate in specie or in cash, or partly in each, at values determined solely by my Executor; and (f) exercise all powers conferred upon executors and trustees under the applicable Trustee Act of New South Wales.

I give and bequeath the following specific gifts to the persons named below, free of all encumbrances and free of any estate or capital gains tax (if any) where lawfully permitted: My vintage 1967 Ford Mustang to my brother Michael R. O'Brien;
My personal library to the University of Sydney Law School. Each specific beneficiary must survive me by a period of thirty (30) days to receive their bequest; if they do not, the bequest shall fall into the residue of my estate.

I give, devise, and bequeath all the rest, residue, and remainder of my estate, both real and personal property, of whatsoever nature and wheresoever situate (the "Residual Estate"), as follows: 60% to Emma L. Watson (spouse) and 40% to Children's Testamentary Trust, absolutely, free of all encumbrances, subject to the payment of all debts, taxes, and costs of administration. If any residuary beneficiary predeceases me or does not survive me by thirty (30) days, their share shall pass to their issue per stirpes; and if there are no surviving issue, their share shall be distributed equally among the surviving residuary beneficiaries.

If at the time of my death any of my children are under the age of eighteen (18) years, I appoint Sarah J. Mitchell, of Level 8, 1 Chifley Square, Sydney NSW 2000 (Trusted family friend), as the Guardian of the person of my minor children. This appointment is made pursuant to the Succession Act 2006 (NSW) and any applicable child welfare and family law legislation. If Sarah J. Mitchell is unable or unwilling to act as Guardian, I appoint Michael R. O'Brien as Alternate Guardian with the same powers and authorities. This appointment is an expression of my wishes and is subject to the approval of a court of competent jurisdiction acting in the best interests of my children, having regard to the Family Law Act 1975 (Cth) and applicable state legislation.

The Testator acknowledges that superannuation benefits and certain life insurance proceeds do not automatically form part of the estate distributed under this Will. Superannuation is held on trust by the relevant fund trustee and is distributed in accordance with the fund's trust deed and the relevant binding or non-binding death benefit nomination, or (failing a valid nomination) at the discretion of the trustee in favour of "dependants" as defined in section 10A of the Superannuation Industry (Supervision) Act 1993 (Cth) (SIS Act). Similarly, life insurance proceeds payable directly to a nominated beneficiary outside super do not form part of the estate. The Testator is advised to: (a) ensure each superannuation fund holds a current, valid Binding Death Benefit Nomination (BDBN) consistent with the Testator's intentions (most BDBNs lapse after three years and must be renewed); (b) verify that life insurance held outside super has nominations aligned with the Testator's estate plan; and (c) where Testator wishes the super or insurance to be paid via the estate, direct the death benefit to the "legal personal representative" so it falls into the estate and is distributed under this Will.

If any beneficiary under this Will is under the age of 25 years at the date of my death, I direct my Executor to hold that beneficiary's share of my estate upon trust (the "Testamentary Trust") until the beneficiary attains the age of 25 years or dies, whichever occurs first. I appoint Sarah J. Mitchell as Trustee of the Testamentary Trust, with the same powers and discretions granted to my Executor under this Will. The Trustee may apply any income or capital from the Testamentary Trust for the maintenance, education, advancement, or general benefit of the beneficiary as the Trustee considers appropriate in the Trustee's absolute discretion. A testamentary trust established under this clause provides significant tax benefits to minor beneficiaries under section 102AG of the Income Tax Assessment Act 1936 (Cth) — "excepted trust income" is taxed at adult marginal tax rates rather than the penalty rates that ordinarily apply to minors' unearned income. The Executor is advised to obtain specialist estate planning advice to optimise the trust structure.

I give and bequeath to Australian Red Cross, a Deductible Gift Recipient (DGR) registered Australian charity (or its successor organisation), the sum of 10000 AUD (or such other amount as represents the same proportion of my residual estate if that sum is not available). This gift shall be free of all conditions. If the named charity has ceased to exist at the date of my death and has no DGR-registered successor organisation, this bequest shall fall into the residue of my estate. Australia has no estate or inheritance tax; however, the DGR designation ensures the charity itself does not face tax on the bequest.

I grant my Executor full authority to access, manage, preserve, transfer, distribute, and if appropriate delete all of my digital assets, including but not limited to: email accounts, social media profiles and accounts, digital photographs and files, domain names, websites, online banking and financial accounts, investment accounts, cryptocurrency and digital wallets (including any private keys and seed phrases), cloud storage services, subscription services, and any other electronically stored information. My Executor shall have the authority to obtain any passwords, PINs, encryption keys, or access credentials necessary to administer my digital estate, whether from a digital legacy service, a password manager, or other means. The Executor shall handle any personal information of mine or third parties in accordance with the Privacy Act 1988 (Cth). Where a platform's terms of service do not permit transfer, my Executor shall exercise their best discretion to preserve memorial value or capital value. Cryptocurrency forming part of my estate is recognised as property under Australian law (per Re Estate of Cassettari and CGT Determination TD 2014/26) and shall be administered accordingly.
Specific digital asset instructions: Cryptocurrency holdings (BTC, ETH) to be transferred to my spouse Emma L. Watson; private keys stored in safety deposit box at Commonwealth Bank, George Street branch.

Any beneficiary who directly or indirectly contests the validity of this Will, commences proceedings to challenge the probate of this Will, or takes any action to defeat or impair any provision of this Will (other than a bona fide application for family provision under the Succession Act 2006 (NSW) ch. 3, which is statutorily preserved), shall forfeit any and all benefits to which they would otherwise be entitled under this Will, and their share shall fall into and form part of the residue of my estate to be distributed as if that beneficiary had predeceased me. Important: This clause does not override the statutory right of an "eligible person" (typically spouse, de facto partner, child, or person dependent on the Testator) to make a family provision claim under the Succession Act 2006 (NSW) ch. 3, which generally must be made within 12 months of the grant of probate.

Superannuation Fund(s): Australian Retirement Trust + AustralianSuper. The Testator has made (or will make and maintain) a Binding Death Benefit Nomination (BDBN) directing the death benefit to the Testator's "Legal Personal Representative" — that is, the Executor of this estate. Accordingly, the superannuation death benefit shall form part of the residual estate and be distributed under the Residuary Estate clause above. The Executor shall promptly verify the validity and currency of the BDBN within 90 days of the Testator's death and shall renew or update it if any prior nomination has lapsed (BDBNs typically lapse after three years unless the trust deed provides otherwise).
Life Insurance Outside Super: The Testator confirms that any life insurance held outside superannuation will have a beneficiary nomination consistent with the Testator's estate plan. Any such proceeds payable to a nominated beneficiary do not form part of this estate.

I direct my Executor to pay all my just and legally enforceable debts, funeral and testamentary expenses, and all estate, succession, or other taxes and duties assessed against my estate, as soon as is practicable after my death, from the general assets of my estate. This includes any income tax liability under the Income Tax Assessment Act 1997 (Cth) for the year of my death and all prior income years, and any capital gains tax arising under Division 128 of the Income Tax Assessment Act 1997 (Cth) from assets included in my estate. Australia has no estate or inheritance tax at the federal level.

For the purposes of this Will, a beneficiary shall be deemed to have predeceased me if they do not survive me by a period of thirty (30) days. Where a beneficiary dies within thirty (30) days of my death, their share of my estate shall pass as if they had predeceased me, unless this Will expressly provides otherwise.

The validity, construction, and administration of this Will shall be governed by the laws of the State of New South Wales, Australia, and in particular the Succession Act 2006 (NSW) and the Succession Act 2006 (NSW) ch. 3, together with any applicable regulations. Probate shall be obtained in the Supreme Court of New South Wales. Where assets of my estate are situated in other Australian states or territories, my Executor shall obtain such ancillary grants of probate or letters of administration as may be necessary.

If any provision of this Will is found by a court of competent jurisdiction to be invalid, void, or unenforceable, such invalidity shall not affect the validity or enforceability of the remaining provisions, which shall continue in full force and effect to the maximum extent permitted by law.

IN WITNESS WHEREOF, I, James T. O'Brien, have signed this Will on 25 April 2026, in the State of New South Wales, Australia, in the presence of the two (2) witnesses named below, each of whom has signed below at my request, in my presence, and in the presence of each other. No witness is a beneficiary under this Will, and no witness is the spouse or de facto partner of a beneficiary, as required by the Succession Act 2006 (NSW).