It is estimated that around 60% of people in Australia die without having made a will, or do have a will that is out of date. It is not the case that estate planning (planning what will happen to your property after you die) and having a will are only important if you are wealthy or have assets. A will allows you to remain in control of your life, even when you are unable, to enable your property to be distributed in accordance with your wishes. Your last will need not be your last will. You can change your will as and when your circumstances and wishes change. Importantly, your will must be easy to find.
You may also choose to appoint a power of attorney, a person that you trust and allow to make decisions on financial and social matters on your behalf if and when you are unable to do so.
Read more about estate planning, writing a will and how to choose a power of attorney.
Website: Legal Aid Victoria. Wills, Estates and Powers of Attorney.
https://www.legalaid.vic.gov.au/wills-estates-and-powers-attorney (Accessed 2 June 2021)
Website: Legal Aid Victoria. Powers of attorney
(Accessed 2 June 2021)