Estate planning is one of those tasks almost everyone means to get to, yet many only face it during a crisis. Families often describe the same moment. A parent dies, the surviving spouse and children open a cupboard or a laptop, and suddenly they are trying to reconstruct a life from scattered paperwork, half remembered details and password guesses. Grieving and guessing at the same time.
We all want to protect the people we love, yet estate planning rarely feels urgent. Behavioural science helps explain why. Once you recognise the patterns that slow you down, it becomes much easier to take simple, confidence building steps.
Why estate planning feels hard
Present bias
We tend to pay more attention to tasks with immediate payoff. Estate planning delivers its value later, often for someone else, so we quietly push it. One way to shift this bias is to focus on what it gives you today. A sense of order, less background stress and the comfort of knowing you have taken care of your family.
Status quo bias
Doing nothing feels safe because it is familiar. Many people tell themselves they will get around to it eventually. Often the breakthrough comes from doing one small first step. Listing your accounts or checking your super nomination can be enough to create momentum.
Optimism bias
Most of us assume we have plenty of time. This feeling exists in every age group. Early planning creates a safety net that protects the people you care about, even if life changes unexpectedly.
Emotional discomfort
Thinking about incapacity or death can feel heavy, so people naturally avoid it. Once you start the process, the conversations turn out to be far more warm, practical and reassuring than expected.
Understanding these patterns is the first step toward overcoming them. The second step is knowing exactly what to do.
Estate planning at every age
Estate planning is not something that begins at 65. It begins the moment someone depends on you or your decisions extend beyond yourself. It’s not about the imminence of your death. It’s about the complexity of your life and what that would mean for the ones you leave behind if something were to happen for you. And with our complex, more invisible digital lives, the need to start earlier has never been greater.
In your 30s
Many people have young children, mortgages or shared income. A Will, a clear super nomination and a plan for childcare and finances can prevent enormous complexity later.
In your 40s
Life becomes more layered. Blended families, ageing parents, business ownership or investments bring extra responsibility. Updating your Will and documenting your assets and liabilities becomes especially important.
In your 50s
Attention often shifts to retirement planning and long-term health. Planning your health outcomes and funeral isn’t a morbid thing to do – it’s an act of kindness so that your loved ones aren’t left guessing (and possibly in conflict) about what you would have really wanted.
Trigger moments
Life changes are better signals than age. Review your plan when you experience:
- Marriage
- Separation
- Buying or selling a home
- Birth of a child or grandchild
- Starting a business
- A significant diagnosis
- A change in family relationships
Planning after a diagnosis is possible but it is also the hardest moment to do it. Earlier is easier, calmer and clearer.
Your essential estate planning checklist
- Create or update your will
- Review your superannuation and insurance nominations
- Make a simple list of assets and liabilities
- Capture your bills and ongoing commitments
- Plan for your digital life
- Put in place powers of attorney and health directives
- Document your personal wishes
- Store everything safely and tell someone where it is
Taking your first step
Estate planning becomes easier the moment you begin. Choose one small task that feels most relevant or imagine which task would be hardest for your family if you were not here.
Each step creates clarity and reduces the burden on the people you love. One day they will feel the care behind your preparation and the relief of having clear guidance when they need it most.
Source: Money & Life