Estate Planning Checklist (Australia)

An Estate Planning Checklist in Australia records arrangements for dealing with a person's estate and the distribution of assets among beneficiaries, consistent with succession requirements under the Succession Act 2006 (NSW).

The five pillars of an Australian estate plan are: (1) a Last Will and Testament (or Testamentary Trust Will), which directs the distribution of estate assets, appoints an Executor, and nominates a guardian for minor children under the applicable state Succession Act; (2) an Enduring Power of Attorney, which authorises a trusted person to make financial and legal decisions on your behalf during any period of incapacity under state-specific legislation such as the VIC Powers of Attorney Act 2014 or the NSW Powers of Attorney Act 2003; (3) an Advance Care Directive (or medical power of attorney), which records your medical treatment preferences and appoints a healthcare proxy under legislation such as the VIC Advance Care Directive Act 2014 or the SA Advance Care Directive Act 2013; (4) superannuation death benefit nominations under the Superannuation Industry (Supervision) Act 1993 (Cth) and regulation 6.17A of the SIS Regulations 1994, which direct how your superannuation death benefit is paid independently of your Will; and (5) an asset register and letter of instructions that enables your Executor to efficiently locate and administer your estate.

The Australia Estate Planning Checklist (Australia) checklist also addresses digital assets — an increasingly important category that includes email accounts, social media profiles, cryptocurrency wallets, online banking, and subscription services. Without written instructions, digital assets can be permanently inaccessible after death.

A well-maintained estate planning checklist provides an at-a-glance overview of the current status of each element, identifies gaps or expired documents (such as lapsed BDBNs), and records action items with target completion dates.

The legal framework governing the Estate Planning Checklist (Australia) in Australia draws on several key statutes and regulatory bodies. Under state succession legislation — including the Succession Act 2006 (NSW), Wills Act 1997 (Vic), and Succession Act 1981 (Qld) — the Supreme Court of each state administers probate. The Trustee Act 1925 (NSW) and equivalent state Acts govern trustee obligations. The Australian Taxation Office (ATO) administers estate taxation. Section 7 of the Succession Act 2006 (NSW) sets formal requirements for valid wills. The Privacy Act 1988 (Cth) applies to personal data held by executors and administrators. Parties executing a Estate Planning Checklist (Australia) in Australia should confirm the document reflects current law, including any amendments enacted since the original drafting date. The Succession Act 2006 (NSW) sets the foundational requirements.

An estate planning checklist is useful at every stage of adult life and should be updated regularly alongside the underlying documents.

Young adults who are newly independent — with a superannuation account, a bank account, and potentially a vehicle — should complete a basic estate plan (Will, EPOA, super nomination) as soon as they enter the workforce. Without a Will, their estate passes under the intestacy rules of their state, which may not reflect their intentions.

Couples — whether married or de facto — benefit from coordinated estate plans that address joint assets (particularly real property held as joint tenants, which passes by survivorship outside the estate), superannuation nominations, and the appointment of each other as Executor and attorney.

Parents of minor children have the most urgent need for a complete and current estate plan. Without a guardian nomination, the Family Court must appoint a guardian without the guidance of the parents' expressed wishes. Without a testamentary trust, assets left to minor children may be paid directly to the children when they turn 18 — often earlier than is prudent.

People approaching or in retirement need to confirm their Advance Care Directive accurately reflects their current medical treatment preferences, that their superannuation pension account nominations are current, and that their estate plan accounts for aged care costs and any change in asset values.

Business owners need to review how their role as director, shareholder, partner, trustee, or appointor is addressed in their estate plan — including whether shareholders' agreements, partnership agreements, and trust deeds contain appropriate death and succession provisions.

Parties in Australia should prepare a Estate Planning Checklist (Australia) proactively rather than waiting for a dispute to arise. Courts interpret agreements based on the written terms rather than oral representations. Under state succession legislation — including the Succession Act 2006 (NSW), Wills Act 1997 (Vic), and Succession Act 1981 (Qld) — the Supreme Court of each state administers probate. The Trustee Act 1925 (NSW) and equivalent state Acts govern trustee obligations. The Australian Taxation Office (ATO) administers estate taxation. Section 7 of the Succession Act 2006 (NSW) sets formal requirements for valid wills. The Privacy Act 1988 (Cth) applies to personal data held by executors and administrators. Where the transaction involves regulated activities, prior approval from the relevant authority may be required before execution.

A thorough Australian estate planning checklist should systematically address the following elements.

The Will section records the date of the current Will, where the original is stored, the name(s) of the Executor and alternate Executor, the guardian nomination (if applicable), and any action items such as the need to update beneficiaries, add a Codicil, or prepare a new Testamentary Trust Will.

The Enduring Power of Attorney section records the type of EPOA (financial, personal, or combined), the attorney appointed, the triggering conditions (immediate or on incapacity), the storage location, and whether the EPOA has been registered with the relevant land registry if it covers real property.

The Advance Care Directive section records the type of document (ACD, Advance Health Directive, or Enduring Power of Guardianship depending on state), the healthcare proxy appointed, and whether a copy has been lodged with the member's GP and hospital records.

The superannuation section records each fund, the member number, the type and date of the current nomination, the BDBN expiry date, and the nominated beneficiaries. This section is critical because a lapsed BDBN immediately returns full discretion to the fund trustee.

The trust section records whether the Will includes testamentary trust provisions and lists any existing inter vivos trusts, noting any succession gaps in the trust deeds.

The asset register provides a detailed record of all assets — real property with Certificate of Title references, bank accounts with BSB and account numbers, investments, superannuation, life insurance policies, business interests, vehicles, digital assets, and liabilities — enabling the Executor to identify and administer the full estate efficiently.

The review schedule records the next planned review date and all outstanding action items in priority order, confirming the estate plan remains current and effective.

Additional compliance elements for a Estate Planning Checklist (Australia) used in Australia include: Under state succession legislation — including the Succession Act 2006 (NSW), Wills Act 1997 (Vic), and Succession Act 1981 (Qld) — the Supreme Court of each state administers probate. The Trustee Act 1925 (NSW) and equivalent state Acts govern trustee obligations. The Australian Taxation Office (ATO) administers estate taxation. Section 7 of the Succession Act 2006 (NSW) sets formal requirements for valid wills. The Privacy Act 1988 (Cth) applies to personal data held by executors and administrators. Forms-legal.com provides this template as a starting point for Australia-compliant documentation.