As we close out the year, it’s the perfect time to review your estate plan and step into 2026 with clarity and confidence. December naturally encourages reflection, and while many focus on holidays and resolutions, estate planning is often overlooked. Taking time now is a gift to yourself and those you care about.
Why December Works
The end of the year is ideal for reviewing changes in your life, business, and family. You may have grown your business, bought property, welcomed a grandchild, or changed your retirement timeline. These shifts affect your estate plan but are easy to miss during busy months.
The quieter period between Christmas and New Year gives you space to think clearly and discuss your wishes with family. By starting the new year with your estate affairs in order, you free yourself to focus on new opportunities instead of lingering what ifs.
7 Essential Pillars of Estate Planning
- Your Will
Your will should reflect your current circumstances. If it’s outdated or you do not have one, now is the time. It must address your assets, business interests, and family dynamics. Superannuation is not automatically covered by your will, and business owners must also account for succession, directors, and any agreements with partners.
- Superannuation Beneficiary Nominations
Super doesn’t automatically form part of your estate. You need valid beneficiary nominations or reversionary arrangements. Without them, the fund trustee decides how benefits are distributed, which may not reflect your intentions. Review your insurance policy beneficiaries as well.
- Guardianship of Children
If you have young children, choosing a guardian is one of the most important decisions you can make. Consider relocation, family structure, financial capacity, and emotional readiness. Discuss expectations openly and ensure you have arrangements to support your children’s upbringing and education.
- Tax Considerations
While Australia has no inheritance tax, certain assets including superannuation may trigger tax for some recipients. With strategic planning, you can reduce these impacts and preserve more for your beneficiaries. Professional advice is essential here.
- Companies and Trusts
Companies and trusts continue after your death, but only function smoothly with proper planning. Without clear control and succession arrangements, your family risks losing influence or even the viability of the business. Strong governance and forward planning are vital.
- Professional Coordination
Estate planning requires collaboration between accountants, lawyers, insurance advisers, and financial planners. We coordinate this process by reviewing your structures, understanding your goals, and ensuring your estate plan is comprehensive, documented, and enforceable. We also help safeguard your business against unexpected events.
- Enduring Powers of Attorney (Financial and Medical)
Enduring Powers of Attorney ensure trusted decision-makers can act if you lose capacity. A Financial Enduring Power of Attorney authorises someone to manage your finances: banking, property, investments, and business matters. A Medical (or Personal) Enduring Power of Attorney allows a chosen person to make health and lifestyle decisions, including treatment and care.
These documents prevent delays, reduce family conflict, and avoid the need for tribunal intervention, giving clear authority and continuity when you can’t manage your own affairs.
A Strong Start to 2026
Use the final weeks of the year to ensure your estate plan reflects your life today and protects your family tomorrow. Though the conversations may be challenging, the peace of mind is invaluable.
Contact Advivo to schedule your estate planning review. Our team takes a hands on, collaborative approach to help you protect your legacy and prepare confidently for the future. Make this the year you finally tick estate planning off your list your family will thank you.
