What is estate planning in Australia?
Estate planning is the process of arranging your legal, financial and personal affairs so that the right people can make decisions for you during your lifetime if needed, and your assets are passed to your chosen beneficiaries tax‑effectively when you die. An effective plan coordinates your Will, superannuation, personal insurances and decision‑making authorities across the law of your state or territory.
Key elements commonly include:
- Will – sets out who receives your assets, who acts as executor and any testamentary trusts you want to include.
- Enduring Power of Attorney (EPA) – appoints a trusted person to make financial and legal decisions if you lose capacity.
- Enduring Guardianship / Advance Care Directive – appoints a health/lifestyle decision‑maker and documents your care preferences (name varies by state).
- Superannuation death benefit nomination – directs your super fund where to pay (binding/non‑binding and tax outcomes differ).
- Control of companies and trusts – ensures shares, directorships, appointorships and trust deeds align with your Will.
- Letters of wishes – practical guidance to executors/guardians about children, heirlooms and digital assets.
Important: Requirements differ between states and territories (witnessing, forms and terminology). This page provides general information only and is not legal advice.
What to include in a simple vs comprehensive plan
Simple plan (most singles/couples)
- Valid Will with clear gifts and backups (alternate executors/beneficiaries)
- Enduring Power of Attorney
- Enduring Guardian/Advance Care Directive
- Current superannuation death benefit nomination
- Basic letter of wishes and digital access record
Comprehensive plan (blended or complex)
- Will with testamentary trusts for minors or tax planning
- Specific strategies for a blended family or vulnerable beneficiaries
- Business, company and trust control succession (appointor, trustee, shareholder agreements)
- Life insurance ownership/beneficiary alignment with the Will
- Assets in multiple jurisdictions or foreign property considerations
Estate planning costs in Australia
Prices vary by state, firm and complexity. These ranges are commonly seen:
- DIY Will kit: $30–$100 (lowest cost; highest error risk)
- Online guided Will (lawyer‑reviewed): $200–$500 (simple scenarios)
- Local solicitor – simple Will: $400–$900 single; $700–$1,500 couple
- Comprehensive plan: $1,500–$5,000+ (testamentary trusts, companies/trusts, blended families)
- Enduring Power of Attorney / Guardianship: $150–$400 each when bundled
- Public trustee: often low upfront, but may charge estate administration fees later
What usually drives cost
- Children from prior relationships or special‑needs beneficiaries
- Companies, family trusts or business assets
- Foreign property or tax residency
- Contested family dynamics or asset protection needs
Documents and information to prepare
Having core information ready keeps costs down and helps a lawyer draft accurately.
- Photo ID and contact details
- List of assets and liabilities (property, bank accounts, investments, superannuation, insurance)
- Super fund name, member number and current nomination type
- Beneficiaries’ details (including backups) and any special needs
- Preferred executors and guardians with alternates
- Company/trust documents (constitutions, trust deeds, appointor/trustee details)
- Any existing Will, EPA or care directive
- Notes about digital assets and passwords (stored securely)
Compare estate planning options
| Option | Best for | Key risks | Typical cost |
|---|---|---|---|
| DIY Will kit | Very simple estates with one or two beneficiaries | Incorrect signing, unclear gifts, missed super/trust issues | $30–$100 |
| Online guided Will (lawyer‑reviewed) | Simple estates wanting speed and review | May not suit blended families or business/trust assets | $200–$500 |
| Local solicitor fixed‑fee | Singles/couples wanting tailored advice and proper witnessing | Higher than DIY but usually better fit and validity | $400–$1,500 |
| Specialist estates lawyer | Blended families, testamentary trusts, companies/trusts, high value | More cost, but reduces dispute/tax risk later | $1,500–$5,000+ |
| Public trustee | Low/no upfront cost with ongoing support | Estate administration fees and limited customisation | Low upfront; fees on estate |
Estate Planning FAQ
What documents are usually included?
Most plans include a Will, Enduring Power of Attorney, Enduring Guardianship/Advance Care Directive and a superannuation death benefit nomination. Complex plans may add testamentary trusts and business/trust succession documents.
Do I need a lawyer?
Not always. DIY or online options can work for simple estates. Use a lawyer if you have a blended family, trusts/companies, foreign assets, business interests or want tax‑effective testamentary trusts.
How do I make my Will valid?
Sign in ink with two independent adult witnesses who sign in your presence and each other’s. Ensure pages are initialled consistently and store the original safely. Rules differ slightly by state.
How often should I review?
Every 2–3 years or after major life or asset changes, moving interstate/overseas, or relationship changes.
Where should I store documents?
Keep the original Will in a safe place (or at a law firm). Give certified copies of your EPA and care directives to your decision‑makers and GP.
What happens if I die without a Will?
State intestacy laws decide who inherits. It can increase cost, delay distribution and create disputes—especially in blended families.
Get free estate planning help
Ask a question, request a checklist or get a referral to a nearby wills & estates lawyer. We’ll help you compare options and costs and outline the fastest next step for your situation.