Make Your Death Easier for Your Family with a Clear Plan

Topic: Health

Only about 40% of Australians have prepared a will. Having a clear plan can make it easier for your loved ones when you die.

Most people don't like thinking about their own death, but having a plan in place can make things easier for those left behind. When someone dies, others need to sort out what they leave behind, including organizing a funeral, finding their will, and dealing with banks and digital accounts.

Having a will is an important step in estate planning. Only about 40% of Australians have prepared a will, but people are more likely to do so as they get older and accumulate assets. You can make your own will using a DIY or online kit, but it must meet the legal requirements in your state or territory.

If you die without a will, your assets don't automatically go to the government. Instead, the law determines how your estate is distributed, which can be different between Australian states and territories.

Why It Matters

Having a clear plan for what happens after you die can help reduce stress for your loved ones and ensure that your wishes are respected.

Key Facts

• Only about 40% of Australians have prepared a will.
• If you die without a will, the law determines how your estate is distributed.
• Different Australian states and territories have different rules for distributing assets after death.
• Having a will can help ensure that your wishes are respected.
• You should choose an executor who knows about their role and is willing to take it on.

Key Terms

Estate

The assets and debts you leave behind when you die.

Executor

A person responsible for administering your estate and carrying out its instructions.

Implications

Having a clear plan for what happens after you die can help reduce stress for your loved ones and ensure that your wishes are respected.