Why having a proper estate plan matters

(and why a Post Office will won’t cut it)

Most people think estate planning = “I’ll do it later” or “I’ve already got a will somewhere.”
But here’s the truth: a half-done will can be just as risky as no will at all.

A proper estate plan isn’t just about who gets your stuff.
It’s about control, clarity, and protecting the people you love when things get messy, emotional, or unexpected.

A proper estate plan usually includes:

• A legally valid will

• Power of Attorney (financial decisions if you can’t make them)

• Enduring Guardian (health and lifestyle decisions)

• Superannuation nominations (this one trips people up a LOT)

• Clear instructions so your family isn’t left guessing or fighting

Without this in place, the law decides for you, not your wishes.

Why a Post Office will often isn’t enough

Yes, you can buy a will kit from Australia Post.
But “can” and “should” are very different things.

Post Office wills are generic, and life is not.

They usually fall down when:

• You have superannuation (almost everyone does)

• You have children, blended families, or step-kids

• You own property, investments, or a business

• You want specific conditions (eg. age limits, guardianship rules)

• You need to factor in tax, trusts, or asset protection

• You don’t understand the legal wording (most people don’t)

A will kit doesn’t:

• Ask the right questions

• Tailor advice to your situation

• Flag risks you don’t know exist

• Protect your executor from legal headaches

Result?
Your family may still need lawyers later, just at a much higher cost, and during a really emotional time.

Why Power of Attorney is just as important as a will

This is the one people forget.

A Power of Attorney covers what happens while you’re alive but unable to act, for example:

• Accident or sudden illness

• Surgery complications

• Cognitive decline

Without one:

• Bills can’t be paid

• Property can’t be sold

• Super, insurance, and bank accounts can be frozen

• Your partner or family may need court approval to help you

This isn’t rare. It’s practical life admin.

The 5 most asked questions about wills & estate planning

1. Do I really need a will if I don’t have many assets?

Yes. Your “assets” include:

• Superannuation

• Personal belongings

• Insurance payouts

• Digital assets

• Who looks after your children

A will is about direction, not just dollars.

2. Does my will cover my superannuation?

Not automatically.
Super often sits outside your will unless you have a binding nomination in place. This is one of the biggest mistakes people make.

3. If I’m married or partnered, doesn’t everything just go to them anyway?

Not always.
Rules vary by state, and blended families complicate things fast. A will removes assumptions and reduces disputes.

4. Can I just update my will later when life changes?

Yes, but only if it’s done properly to begin with.
Marriage, separation, kids, property purchases, and business changes can all invalidate or alter parts of a will.

5. What happens if I die without a will?

You die intestate, and the state decides:

• Who gets what

• Who manages your estate

• How long it takes

• How much it costs

It’s slower, more expensive, and far more stressful for your family.

The bottom line

A proper estate plan is:

• One of the most caring financial decisions you can make

• A gift of clarity to the people you love

• Not about death, but about peace of mind

If budgeting is about managing your money,
estate planning is about managing your impact.