A recent article written by Chris Cuffe discusses the issues surrounding estate planning and the shocking notion that an estimated 45% of Australians do not have a valid will…
“A man’s dying is more the survivors’ affair than his own.” – Thomas Mann
“The beginnings and endings of all human undertakings are untidy.” – John Galsworthy
While these quotations from Mann and Galsworthy are usually correct, it doesn’t have to be that way. Surely an important part of anyone’s life is deciding what happens to their assets when they die. It never ceases to amaze me how little thought people put into estate planning and creating a lasting legacy. It’s bad enough that an estimated 45% of Australians do not have a valid will, and most have not made a binding death nomination for their superannuation. But how many people put even a fraction of the time into deciding what should happen with their money as they do in accumulating it in the first place? Neat clichés like ‘the dead don’t care’ do not resonate with me – perhaps that is just the forward planner in me and I may be an outlier.
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