Why Every Adult Should Have a Will – Wills & Estate Planning Law
When many people think about wills, they picture older individuals preparing to pass on their assets. But in reality, Wills & Estate Planning Law in Australia applies to all adults, regardless of age or wealth. Even young adults who feel they are just starting out in life should seriously consider creating a will. Having one ensures your wishes are respected, your loved ones are protected, and unnecessary stress is avoided in the event of the unexpected.
If you pass away without a will in Australia, your estate will be distributed according to intestacy laws. These laws vary between states and territories, but typically your closest relatives—such as a spouse, children, or parents—inherit. This may sound straightforward, but complications can arise:
Unmarried partners may not automatically inherit.
Blended families can face disputes over entitlements.
Friends, charities, or non-family members you may have wanted to provide for will receive nothing.
In the absence of clear instructions, conflicts and lengthy court battles can occur, causing financial and emotional strain for your loved ones.
Why young adults should make a will
Even if you feel you have limited assets, you likely have more to pass on than you think. Bank accounts, superannuation, personal belongings, digital assets, and insurance policies all form part of your estate. For young adults, a will also allows you to:
Appoint an executor - Someone you trust to handle your estate responsibly.
Nominate guardians for children - If you are a parent, a will lets you choose who will care for your children.
Direct superannuation and insurance payouts - Many young Australians hold life insurance through their super fund, which can amount to a significant sum.
Protect digital assets - Social media accounts, online businesses, or cryptocurrency can all be addressed in a will.
The emotional and financial benefits of planning early
Creating a will once is not the end of the process. As life changes, so should your estate plan. Marriage, divorce, the birth of children, purchasing property, or changes in financial circumstances all mean your will should be reviewed. Experts recommend reviewing your will every few years or after major life events to ensure it remains valid and reflective of your current wishes.
Seeking legal advice for peace of mind
While DIY will kits are available, mistakes in wording or execution can render them invalid. For example, failing to have the will properly witnessed can make it unenforceable. Seeking professional advice from lawyers experienced in Wills & Estate Planning Law ensures that your will is legally sound, clear, and comprehensive. Legal experts can also help you explore other estate planning tools, such as powers of attorney and advance care directives, which provide additional protection.
At New South Lawyers, our experienced team can guide you through every step of preparing your will and broader estate plan. Whether you’re young and creating your first will or updating an existing one, we’ll ensure your wishes are protected under Australian Wills & Estate Planning Law.
