If you’re 18 or older, you’re not too young to write a Will in New South Wales.
Also, if you own assets, have superannuation, or care for dependants, it’s already the right time to make a Will.
Waiting could leave loved ones grappling with legal entanglements and financial distress. Real-life examples reported by major news outlets show just how common and costly this can be.
In one case, the sudden death of a 32-year-old man without a Will or enduring power of attorney left his family facing a five-year legal ordeal, involving superannuation, cryptocurrency, and even the care of pets, as highlighted by ABC News on 3 July 2024.
Similarly, the surprising death of One Direction star Liam Payne in October 2024 at just 31, without a Will, left a £24.3 million estate to be distributed according to government rules. The administration of this estate fell to his former partner and a lawyer.
Why Young People Should Think About Estate Planning
The idea that you need to be older or wealthy before you make a Will is a common misconception—and a dangerous one. Under NSW law, if you pass away without a valid Will, your estate is dealt with under intestacy rules. That means government legislation, not your personal wishes, decides how your assets are distributed. For grieving families, this process can drag on for months, creating stress, delays, and unnecessary costs.
Even if you don’t think you own much, most young adults in NSW have more to their name than they realise. Consider:
- Superannuation funds (often with insurance benefits included)
- Equity in property, even with a mortgage
- Bank accounts, shares, or managed funds
- Vehicles, electronics, and jewellery
- Digital assets, such as cryptocurrency, online businesses, or valuable social media accounts
Superannuation alone can be a major asset. Without proper death benefit nominations, the trustee decides who receives it, often after lengthy investigations. This can delay financial support for the people who need it most.
Estate planning lawyers like ours often advise young adults to consider not just a Will but also enduring powers of attorney and advance health directives. These documents ensure someone you trust can take charge of your financial, legal, or medical affairs if you’re no longer able to.
Legal requirements for a valid Will in NSW
- Minimum age: You must be 18 or older for your Will to be legally effective in NSW.
- Testamentary capacity: You must have the mental ability to understand the nature of the document, its consequences, and how you want your estate distributed.
- Formal Requirements: Under Section 6 of the Succession Act 2006 (NSW) (the Act), a Will must meet the following conditions:
- Be written down.
- Be signed by the person making the Will (called the testator), or someone else signing it in their presence and at their direction.
- The testator must sign or confirm their signature while at least two witnesses watch together.
- At least two of those witnesses must then sign the Will while the testator watches (the witnesses don’t have to sign at the same time).
Limited Exceptions for Minors:
- Marriage Exception: A Will made by a minor (person under 18) is valid only if made in contemplation of a marriage that takes place, or if the minor is married.
- Court Approval: The court can approve a Will under Section 16 of the Act for minors in specific circumstances
- Statutory Wills: Sections 18 to 26 of the Act allow the Supreme Court to authorise wills for those lacking testamentary capacity, including minors
However, any person younger than 18 seeking to make a Will requires expert legal advice due to the complex requirements.
The Consequences of Not Having a Will in NSW
Consider a 27-year-old who suddenly lost their spouse, leaving a baby behind. The spouse had no Will and left a mortgaged house, superannuation, and potential compensation claims related to the death. These circumstances can create several serious consequences, including:
- Delays in accessing money: Banks, superannuation funds, and other institutions may require extra paperwork before releasing funds.
- Uncertainty about who inherits: Intestacy laws determine beneficiaries, which may not match your intentions. Spouses, children, or other family members may receive different shares than you would have wanted.
- Complicated legal processes: Estates can take many months—or even over a year—to finalise, particularly if superannuation or other assets are involved.
- Extra costs: Legal fees, administrative expenses, and interest on unpaid bills can quickly add up while your family waits for access to funds.
- Potential disputes: Family members may disagree over entitlements, leading to stress, tension, or even court proceedings.
This example shows that writing a Will is not just for the elderly or wealthy. Losing a spouse is one of the most stressful experiences anyone can face, and a Will can help reduce the financial and legal burden during this difficult time. Your valid Will would serve both as a record of your wishes and as protection for the people you care about most.
When Should You Consider Writing a Will?
You should make a Will as soon as you have assets, responsibilities, or people who rely on you. Some key moments include:
- Buying property: Even with a mortgage, your home has equity that should be properly directed. If you co-own with a partner or friend, you also need to understand how joint tenancy or tenancy in common affects your estate.
- Starting a family: Parents of young children must plan for guardianship, inheritance management, and trusts to safeguard their children’s future.
- Building investments: Shares, managed funds, and superannuation accounts can grow quickly. Without a Will, they may not end up where you’d want.
- Owning a business: Even small businesses, partnerships, or freelance ventures may have valuable assets, contracts, and intellectual property that require proper succession planning.
Common Mistakes Young Adults Make
Many people postpone estate planning because it feels overwhelming or not urgent. make mistakes such as:
- Procrastination: Assuming you’ll get to it “later”. Unfortunately, accidents and illnesses don’t wait for the right time.
- Not updating beneficiary nominations: Outdated superannuation or insurance nominations can override your current wishes.
- Forgetting digital assets: Cryptocurrencies, domain names, or online businesses may be overlooked, leaving beneficiaries without access.
To learn more about these common mistakes, read our article here.
Why You Should Get Professional Help
Online templates can seem tempting, but they don’t account for complex family situations, blended families, or assets like superannuation and business interests. Experienced Estate Planning Lawyers like ours understand NSW succession law and can help you create a Will that works alongside your nominations, insurance, and tax planning.
We will also ensure your estate plan evolves with you. As you move through life stages—buying property, marrying, having children, or building wealth—your Will and other documents need to be reviewed and updated. We’re here to help.
Start Making Your Will Today
Take note, writing a Will isn’t about being old or rich. It’s about being prepared. Every adult in NSW with assets, superannuation, or dependants should take steps to protect their loved ones. Estate planning provides peace of mind that your wishes will be respected and your family won’t face unnecessary legal or financial hardship.
Our Estate Planning Lawyers Central Coast can help you write strong, practical estate plans that truly reflect your wishes. No matter if it’s your first Will, an update to reflect new circumstances, or more complicated issues like superannuation and business structures, we’ll walk you through the process with care.
We understand that starting the conversation about estate planning can feel daunting, especially when you’re young. But taking this step now is one of the most responsible decisions you can make.
Reach out to one of our expert Central Coast Wills & Estate Planning Lawyers today for a private consultation. Gain peace of mind knowing your loved ones will be cared for, no matter what the future holds.
