Many people assume estate planning is something to think about later in life—after buying a home, getting married, having children, or building substantial wealth. But the truth is that having the right legal documents in place matters at every age, including when you are young, healthy, and “not worried about it yet”.
Accidents happen. Sudden illness happens. Unexpected events happen. And you may only get one chance to make sure your wishes are known and legally enforceable.
A clear, well-prepared Will (or Will with a Testamentary Trust), Power of Attorney (POA), and Enduring Guardian (EG) are the key documents that help protect you and your loved ones—just in case.
Why “young and healthy” people still need these documents
If you lose capacity unexpectedly (even temporarily), you may be unable to:
- access your own money,
- sign documents,
- make medical decisions,
- deal with banks, insurers, superannuation, Centrelink, or utilities,
- sell a property, pay a mortgage, or manage a business,
- make decisions about your own care and treatment.
If you pass away without a valid Will, your estate may not go where you intended, and your loved ones may face delays, legal costs, and stress at an already difficult time.
The core issue is this: if your documents aren’t in place, you don’t get to choose who steps in, and your family may have to go through a legal process to get authority.
1) Your Will (and a Will with a Testamentary Trust)
What is a Will?
A Will is a legal document that sets out what happens to your assets (your “estate”) when you die. It can also include important directions such as:
- who will receive your assets (beneficiaries),
- who will manage your estate (executor),
- guardianship wishes for children (where relevant),
- how debts and expenses should be paid.
What is a Testamentary Trust?
A Testamentary Trust is a trust created under your Will that commences after your death. Instead of beneficiaries receiving assets directly in their own names, assets can be held in a trust and managed by a trustee for their benefit.
Depending on your circumstances, a Testamentary Trust can be used to help with:
- asset protection (e.g., protecting an inheritance from relationship breakdown risks, creditors, or bankruptcy concerns),
- protecting vulnerable beneficiaries (e.g., beneficiaries with health issues, disabilities, addictions, or difficulty managing money),
- greater control and flexibility over when and how beneficiaries benefit,
- potential tax planning flexibility (where applicable).
What can happen without a Will?
If you die without a valid Will (dying “intestate”):
- your assets may be distributed according to a legal formula (not necessarily your wishes),
- the process can be slower, more complicated, and more expensive,
- family members may have to apply to the Court to be appointed to manage your estate,
- disputes are more likely—especially where relationships are blended or complicated.
A Will is not just about “who gets what”. It is also about making sure the right people are legally empowered to act quickly and correctly when it matters most.
2) Power of Attorney (POA)
What is a Power of Attorney?
A Power of Attorney is a legal document where you appoint someone you trust (your attorney) to make financial and legal decisions for you.
This can include things like:
- dealing with bank accounts,
- paying bills and expenses,
- managing investments,
- selling or dealing with property,
- managing business or company-related matters,
- dealing with government departments and insurers.
A POA is especially important if you become unable to manage your affairs due to accident, illness, or incapacity.
What can happen without a POA?
If you lose capacity and do not have a POA in place:
- your loved ones may not be able to access your funds to pay your rent/mortgage, utilities, or medical expenses,
- banks and institutions may refuse to deal with family members (even a spouse) without legal authority,
- your family may have to apply to a tribunal or court for a formal financial management appointment,
- the process can be time-consuming and stressful, and you may not get to choose who is appointed.
A POA is a practical document: it keeps life running smoothly if you cannot handle things yourself.
3) Enduring Guardian (EG)
What is an Enduring Guardian?
An Enduring Guardian appointment is a legal document where you appoint someone to make health and lifestyle decisions for you if you cannot make them yourself.
These decisions may include:
- consenting to medical and dental treatment,
- decisions about aged care, supported accommodation, or living arrangements,
- access to medical records and communication with doctors (where applicable),
- decisions about services and supports needed for your wellbeing.
What can happen without an EG?
If you lose capacity and have no Enduring Guardian in place:
- your family may face uncertainty about who can make medical/lifestyle decisions,
- doctors and hospitals may be limited in who they can take instructions from,
- disagreements among family members can cause delay and conflict at critical times,
- your loved ones may have to apply to a tribunal for a formal appointment.
An Enduring Guardian helps ensure that someone you trust is legally authorised to advocate for you and carry out your wishes when you cannot speak for yourself.
“Just in case” is a valid reason
People sometimes avoid estate planning because it feels uncomfortable, unnecessary, or “too soon”. But these documents are not pessimistic—they are protective.
They are your chance to:
- choose who will step in if you can’t,
- reduce confusion and conflict,
- protect your loved ones from legal hurdles,
- ensure your wishes are respected.
Because if the unexpected happens, it may be too late to put the right documents in place. You may only get one chance to get it right.
Ready to put your documents in place?
Having a Will (or a Will with a Testamentary Trust), Power of Attorney, and Enduring Guardian is one of the most effective ways to protect yourself and the people who matter most—no matter your age or current health.
If you would like to discuss what documents are appropriate for your circumstances, and how to structure them to protect your interests, contact our team to arrange an estate planning appointment.
