Talking about estate planning can feel confronting. It’s a conversation tied to ageing, mortality, money, and family dynamics — all sensitive topics many of us prefer to avoid. Yet, avoiding it doesn’t make the need go away.
In fact, most people leave estate planning too late, which can lead to stress, family conflict, and unnecessary financial and legal complexity.
Why We Avoid the Conversation
Estate planning requires us to picture life after we’re gone — something few people are comfortable with. Many fear upsetting loved ones or feel unsure how to start. Others assume they “don’t have enough assets” or that planning is only for the wealthy. For ageing parents, the conversation can feel like giving up independence; for adult children, it may feel awkward or even presumptuous.
Adding to this, there’s a misconception that wills alone are enough. True estate planning goes beyond distributing assets — it covers enduring powers of attorney, advanced care directives, tax considerations, and planning for aged care costs. These complexities make many people put it in the “too hard” basket.
The Cost of Delay
Unfortunately, waiting often leads to rushed, emotionally charged decisions during times of illness, incapacity, or grief. Without clear instructions, families can face:
- Disputes over assets or care decisions.
- Unnecessary tax burdens or legal fees.
- Difficulty funding aged care or managing ongoing medical costs.
- Added emotional stress when clarity is most needed.
By planning ahead, you create certainty and protection — not just for your assets, but for your loved ones’ wellbeing and peace of mind.
The Role of an Aged Care Professional
Estate planning isn’t just about lawyers and accountants. An Aged Care professional plays a vital role by helping you navigate how your financial and legal decisions interact with future care needs. They can:
- Assess aged care costs and government entitlements.
- Model how different decisions impact your future income and asset protection.
- Guide you on funding residential care or home support without jeopardising your estate goals.
- Coordinate with legal and financial advisers to ensure your plan is practical and sustainable.
Engaging an Aged Care specialist ensures your plan is future-focused — protecting you while you’re alive and supporting your family after you’re gone.
Top 5 Tips for Better Estate Planning Conversations
- Start Early — While Emotions Are Low
Don’t wait for a health scare or crisis. Begin conversations when everyone is calm and able to think clearly. It’s easier to talk about choices when there’s no immediate pressure. - Get the Right People Involved
Include key family members, your financial planner, lawyer, and an Aged Care professional. A collaborative approach avoids confusion and ensures decisions align with your wishes and future care needs. - Be Clear and Document Everything
A verbal agreement isn’t enough. Ensure your will, enduring powers of attorney, advanced care directives, and financial arrangements are documented, signed, and stored safely. - Plan for Aged Care Costs and Living Arrangements
Think beyond inheritance. Consider where you might want to live if you need support and how it will be funded. Planning ahead helps protect your assets and gives your family confidence about your care preferences. - Review Regularly
Life changes — births, marriages, property sales, or policy updates can all affect your plan. Revisit your estate and aged care strategy every few years or when major events occur.
The Bottom Line
Estate planning isn’t just a legal task — it’s an act of love and responsibility. By starting early and seeking expert advice, including from an Aged Care professional, you can reduce stress, preserve wealth, and protect your family’s future. It’s a difficult conversation, but one that brings peace of mind once had.
If this article has inspired you to think about your unique situation and, more importantly, what you and your family are going through right now, please get in touch with your advice professional.
This information does not consider any person’s objectives, financial situation, or needs. Before making a decision, you should consider whether it is appropriate in light of your particular objectives, financial situation, or needs.
(Feedsy Exclusive)
