UniSuper pilots' digital estate planning partnership with Safewill

UniSuper has partnered with online estate planning platform Safewill in a pilot program aimed at simplifying the Will creation process for members and improving awareness around estate planning and superannuation beneficiary nominations.

Under the arrangement, UniSuper members will be able to create a legally valid Will through Safewill at no additional cost as part of their membership.

The online platform guides users through a step-by-step process to document how they want their assets distributed, appoint executors and nominate guardians for children or pets. Once completed, members receive instructions on how to print, sign and witness the documents to make it legally valid.

Safewill chief executive Adam Lubofksy said the partnership was designed to make estate planning more accessible and less intimidating for Australians.

"It's a common perception that the process of creating a Will is complicated, but in reality, it can be quick and straightforward," Lubofksy said.

The initiative also aims to improve member understanding of how superannuation is treated within estate planning arrangements, particularly the role beneficiary nominations play in determining how super death benefits are distributed.

Lubofksy noted Australians mistakenly assume their Will automatically covers their superannuation, despite super benefits generally being governed separately through fund nominations.

The partnership comes as digital estate planning tools gain traction across the financial services sector amid growing focus on retirement preparedness and the intergenerational wealth transfer.

Members with more complex estate planning needs can access additional legal advice through Safewill Legal for a $199 fee.

Safewill said the platform uses encryption and privacy practices compliant with the Australian Privacy Act to protect member information, while completed Wills are reviewed by affiliated legal professionals before execution.

The platform also allows users to notify executors and other trusted contracts that a Will has been created and where it is stored.

UniSuper members can access the services through a dedicated partnership portal, with the process typically taking between 15 and 20 minutes to complete.