What is a Memorandum of Wishes and is this a document that should form a part of my Estate Planning?

September 18, 2025

A Memorandum of Wishes is a non-legally binding document that can set out your wishes and deal with a range of matters in relation to your estate. It is a document that is to be read in conjunction with your Will and can provide your executors with direction through the estate administration.

So, is it for everyone?

In short, yes it is a document that can form a part of anyone’s estate planning to provide guidance to your executors and beneficiaries after you die. It can help to give reasoning for your decision-making and an added comfort that things will go as you plan on your death.

A Memorandum of Wishes is prepared to align with your particular situation and can deal with various matters including:

• The way you would like your trustees to distribute capital to your beneficiaries whilst they are under age;
• The way you would like your beneficiaries to use their inheritance;
• To provide reasoning for your gifting of specific assets;
• The age at which any underage beneficiaries can become involved in the control of testamentary trusts;
• To provide the location of important documents that may assist in the administration of your estate and in particular, to identify or find particular or unusual assets;
• To list specific assets; and
• To list your advisors including financial, tax, accounting and legal advisors.

A Memorandum of Wishes can also outline your wishes regarding the management and control of your non-estate assets following your death, including entities such as companies, trusts, self-managed superannuation funds. You can state your wishes and provide insight into your business operations and trading information, to guide your trustee’s decision making on future investment strategies and the distribution of income or capital between beneficiaries.

However, you do need to remain mindful that a Memorandum of Wishes is only a supporting document and that any direction given is not legally binding.

It is also important the Memorandum of Wishes does not contradict any terms of the Will, otherwise it may raise concerns for your Will’s validity and increase the risk of litigation involving your estate following your death.

If a Memorandum of Wishes forms a part of your estate planning documents we recommend that it be kept alongside your Will and be easily accessible for your executors.

If you would like assistance in preparing a Memorandum of Wishes, please contact our Estate Planning team.