10 Essential Estate Planning Actions You Should Take Today

Why Estate Planning Matters

Over time, most of us accumulate assets, relationships and responsibilities. Without a current estate plan, the wealth you have worked to build could be distributed in ways you never intended, or eroded by disputes that could have been avoided. For West Australians of any age, an up-to-date estate plan is the most practical thing you can do to protect your family and give effect to your wishes.

Your estate plan is not a document you prepare once and put away. Life changes, and your documents need to keep pace. Here are ten steps you can take now to make sure your estate plan reflects where you are today.

1. Review your Will after major life events

Marriage: In Western Australia, marriage automatically revokes your Will unless it was made in contemplation of that specific marriage and this is expressly stated in the Will. After you marry, you should arrange a new Will.

Divorce: Under WA law, divorce revokes any gifts and appointments to your former spouse in your Will. The remainder of your Will stays in force, but it should be reviewed to make sure it still reflects your wishes.

Action: If you have married or divorced since making your Will, contact your solicitor to discuss whether it needs to be updated.

2. Check your superannuation death benefit nominations

Superannuation does not automatically form part of your estate. A binding death benefit nomination directs where your super goes, but nominations typically expire every three years.

After divorce: Unlike your Will, a binding death benefit nomination naming your former spouse is not automatically revoked by divorce. You need to revoke and update it yourself after a relationship breakdown.

Action: Log in to your super fund or call them directly. Check whether your binding death benefit nomination is in place, current and correctly names your intended beneficiaries. If it has lapsed or is missing, download the nomination form from your fund's website, complete it, have it witnessed by two adults who are not beneficiaries and submit it. There are rules about who can be nominated. Generally, nominations are limited to dependants and your legal personal representative. Your fund can confirm the rules that apply to your account.

3. Plan for beneficiaries who may predecease you

If a beneficiary dies before you, their gift typically lapses and falls into the residue of your estate.

Action: Review your Will to check whether it includes a fallback for each beneficiary. For example: "to my daughter Jane, but if she does not survive me, to her children in equal shares." If this is missing, contact your solicitor to update your Will.

4. Create a digital asset inventory

Action: Prepare a secure document listing all your online accounts (financial, social media, email and subscription services), access credentials, digital assets such as cryptocurrency or digital purchases, and any instructions for handling each account after your death. Store it securely in a password manager, encrypted file or physical safe, and let your executor know where to find it and how to access it.

5. Update non-Will beneficiary designations

Many assets pass outside your Will through beneficiary designations.

Action: Review and update beneficiaries for your life insurance policies, investment accounts and any additional superannuation accounts. Make sure these designations are consistent with your Will and your current intentions.

6. Organise your documents

Action: Put together a file containing your Will and any trust documents, enduring powers of attorney, enduring powers of guardianship, insurance policies, property deeds, financial account information, birth, marriage and divorce certificates, and a list of your assets and debts. Keep originals in a fireproof safe. Note where these documents are stored and share that information with your executor.

7. Review your powers of attorney and guardianship

Action: Make sure you have both an Enduring Power of Attorney, which covers financial and property decisions, and an Enduring Power of Guardianship, which covers health, lifestyle and accommodation decisions. You should also consider completing an Advance Health

Directive to record your medical treatment preferences.

After divorce: Unlike your Will, an Enduring Power of Attorney or Enduring Power of Guardianship naming your former spouse is not automatically revoked by divorce. You need to revoke and replace these documents after a relationship breakdown. I recommend doing this as soon as possible after separation, rather than waiting for the divorce order.

Confirm that the people you have appointed are still willing and able to act, that the documents reflect your current wishes, and that all signing and witnessing requirements under WA law have been met. If you do not have these documents, please contact me.

8. Review jointly held assets

Action: Check how your property is titled. If it is held as joint tenants, your share passes automatically to the surviving owner. If it is held as tenants in common, your share passes according to your Will. For tenants in common, make sure your Will deals with your share clearly. If you would prefer your share to pass under your Will rather than by survivorship, you can sever the joint tenancy. If you are unsure how your property is held, check your Certificate of Title or contact Landgate.

9. Consider a testamentary trust

A testamentary trust is a trust created by your Will that takes effect after your death. It can offer tax advantages for income distributed to minor beneficiaries, protection from bankruptcy or family law proceedings, and greater control over distributions for vulnerable beneficiaries.

Action: If any of these considerations apply to your situation, speak with me about whether a testamentary trust would suit your estate plan.

10. Make specific provision for blended families

Action: If you have a blended family, make sure your Will clearly identifies all children and stepchildren. Consider a life interest for your current spouse, with the remainder passing to your children. Specify any items of sentimental value and who should receive them.

Document your reasons for the distribution decisions you have made. Review these arrangements with your solicitor to confirm they are legally sound and accurately reflect your intentions.

Regular review matters. I suggest revisiting your estate plan every two to three years and after any significant life event. Taking these steps now can prevent confusion, conflict and unintended consequences later.

Don't leave your legacy to chance

If your estate plan needs attention in any of these areas, now is the time to act. I specialise in estate planning in Western Australia and can help you work through these matters with confidence. Contact me to arrange a review. You can reach me on 0421 145 637 or at val@crystallawyers.com.au.