Importance of Estate Planning for all ages

March 1st 2018 | Categories: Estate Planning & Inheritance |

little girl and grandpa going into the ocean

The majority of adult Australians have a valid will, according to the “Having the last word?” report.

The study, completed by researchers at the University of Queensland (UQ), Queensland University of Technology (QUT) and Victoria University (VU), examined the estate planning intentions of over 2,700 Australians. Through the survey, it was found that many people did not feel that their most recent will was relevant to their circumstances and wishes. Furthermore, rates of inclusion of enduring powers of attorney and advance directives in end-of-life plans are startlingly low.

So, what’s the big deal about estate planning? Here, we examine what a comprehensive estate plan can mean for your future.

If you want to make sure your wishes are carried out and that it goes to the right people when the time comes, talk to one of our advisers today.

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What is an estate plan?

Your estate plan is much more than just a will. It’s a series of documents directing the distribution of your assets following your passing, as well as advising on your wishes in the event of incapacity.

father and son on telescopes
With a thorough estate plan, you can ensure your wealth is passed on to those you love.

Key documents which may be in your estate plan include:

Why should I have an estate plan?

There are many reasons why you should ensure that you have an up-to-date estate plan, ranging from the benefits to the potential risks of not having one.

The benefits of estate planning:


family driving
Grab hold of the steering wheel and guide your estate plan how you see fit.

The consequences of intestacy:

If your estate plan does not effectively dispose of your assets, your death may be considered intestate in the eyes of the court, meaning your wishes may not be met.

If you want to ensure that you’re comfortable with what you’ll leave behind when you pass, download

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or Contact us today to talk about building a comprehensive estate plan.

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What you need to know

This information is provided by Invest Blue Pty Ltd (ABN 91 100 874 744). The information contained in this article is of general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regards to those matters and seek personal financial, tax and/or legal advice prior to acting on this information. Read our Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relations to products and services provided to you.