Written by Grace Prigg, Law Clerk

The age old question is "do young people need a Will?" If you're under 30, making a Will probably isn't high on your list of priorities. For many young adults, estate planning feels like something to think about later, after buying a home, building wealth, getting married or starting a family.

It's a common assumption: "I'm too young" or "I don't have anything to leave behind". But the reality is very different.

A Will isn't just about wealth. It's about control, certainty and protecting the people who matter most to you. Even at a young age, having a valid Will in place is one of the most effective ways to safeguard your interests and make things easier for your loved ones.

If you're considering making your first Will, Maddens Lawyers can help you put an estate plan in place that reflects your wishes and gives you peace of mind. Learn more about our Wills, Powers of Attorney and Estate Planning Services.

What is a Will?

A Will is a legally binding document that sets out:

• Who will manage your estate – your executor
• Who will receive your assets – your beneficiaries
• How and when your assets are distributed
• Any specific personal or practical instructions you wish to leave behind

Without a valid Will, these decisions are made according to Victorian intestacy laws rather than your personal wishes. This means your estate may be distributed according to a strict legislative framework without regard to your actual relationships, and in ways that may not align with your intentions or values.

You likely already have an estate worth protecting

Many young Australians assume they need significant wealth, a house or even children before making a Will. In reality, a person under 30 does not need these things to have an estate of real value.

You may already have:

• Superannuation balances
• Life insurance attached to your superannuation
• Savings accounts
• A car
• Digital assets such as investments, cryptocurrency, rewards and points accounts, digital wallets and other online holdings.
• Personal belongings with sentimental or financial value

Even if you don't own property, your estate may still be worth more than you realise, and without a Will, you do not get to choose who receives these assets and how they are managed.

Superannuation – Binding Death Benefit Nomination

For many young Australians, their superannuation and any associated life insurance benefits represent the largest assets they hold. It is not uncommon for total super and insurance benefits to range between $100,000 and $300,000 plus, even at a young age.

Many people are surprised to learn that superannuation does not automatically form part of their estate and is not automatically distributed according to their Will.

Superannuation is treated differently to other assets. It is governed by superannuation law and the super fund trustee ultimately decides who receives the benefit unless a Binding Death Benefit Nomination has been completed.

A valid Binding Death Benefit Nomination allows you to nominate who you would like to receive your superannuation death benefits, and in what proportions. It is important to note that superannuation can only be paid to the following people:

• Your spouse or de facto partner
• Your children
• Financial dependents
• Your Legal Personal Representative – the executor of your estate, who will then be responsible for distributing your superannuation in accordance with your Will

Many superannuation funds allow you to nominate beneficiaries online. However, this online nomination is non-binding and the trustee of the super fund will ultimately have discretion as to who receives your superannuation. It also allows you to nominate beneficiaries who are not eligible to directly receive superannuation death benefits such as your siblings or parents.

For young people who would like to leave their superannuation to their siblings or parents, it is essential that you have a Binding Death Benefit Nomination alongside a valid Will.

A carefully prepared estate plan can help reduce disputes, delays and uncertainty for your family during an already difficult time.

A Will allows you to leave instructions that matter

A Will is not limited to distributing your estate. It is also your opportunity to record clear, legally binding instructions regarding matters that are deeply personal and important to you.

A Will allows you to specify:

• Personal and sentimental gifts – who receives your meaningful personal belongings such as family heirlooms, jewellery, collectables and other sentimental belongings
• Pet care arrangements – who will take responsibility for your pets and what financial support you will give to assist with their ongoing care
• Funeral wishes – burial or cremation preferences, cultural or religious requests or personal requests for your funeral service
• Clarifying exclusions – clearly record situations where you intentionally do not wish to provide for certain individuals

It can help protect your partner - even if you're not married

Modern relationships don't always fit neatly into legal definitions.

Under Victorian law, if you die without a Will, your estate is distributed according to intestacy rules. While these laws provide for spouses and some de facto partners, eligibility is not always straightforward.

If you are:

• In a relatively new relationship
• Living separately but in a committed partnership
• Not yet meeting the legal requirements of a de facto relationship

Your partner may not automatically inherit from your estate if you die without a Will.

This can lead to your estate passing to parents or other relatives, your partner needing to bring a legal claim against your estate, and emotional and financial stress during an already difficult time.

On the flip side, even if your partner meets the definition of a de facto spouse, you may not want your partner to automatically inherit your assets given your young age. You may instead wish for your parents and siblings to inherit them instead of, or in addition to, your partner.

A valid Will ensures your personal intentions determine the outcome rather than the legal default position.

It makes life easier for the people you love

One of the most overlooked benefits of a Will is its practical impact on the people you have left behind.

When someone passes away without a Will, their loved ones are often required to navigate a complex legal process all while trying to manage their own grief.

Family members may need to apply for Letters of Administration, gather financial information without clear authority, manage competing family expectations and navigate additional legal requirements or costs.

This process can lead to delays, increased costs and unnecessary stress during an already emotional period.

A valid Will significantly reduces these pressures by:

• Appointing a trusted executor to take control
• Providing clear instructions for asset distribution
• Minimising admin delays
• Reducing legal costs

Even a relatively simple Will can save significant time, expenses and hardship for those left behind.

Your digital life matters too

For people under 30, digital assets form an increasingly important part of their overall estate, but they are often overlooked.

Your digital footprint may include:

• Social media accounts
• Email accounts
• Cloud storage platforms
• Online banking
• Subscription services
• Digital currency wallets
• Frequent flyer and rewards programs

Unlike traditional assets, digital assets can be difficult to access without proper authority. Service providers often have strict privacy policies, which can prevent family members from accessing or closing accounts.

A Will can authorise your executor to manage your digital assets and provide instructions about closing accounts, preserving important information, transferring assets where possible and memorialising social media profiles.

You may also choose to keep a secure record of login details, account information and instructions for access to be stored with your Will.

Proper planning ensures your digital presence is managed in accordance with your wishes and reduces uncertainty for those responsible for administering your estate.

Why young people shouldn't wait and make a Will now

Many people believe estate planning is something they can put off until later in life. Unfortunately, unexpected events can happen at any age.

The best time to make a Will is while you are healthy, capable and able to make informed decisions about your future.

At Maddens Lawyers, we regularly assist young adults with Wills, estate planning and superannuation succession planning. Whether you're building savings, buying your first property or simply want peace of mind, having a Will is a practical step that protects both you and your loved ones.

If you're under 30 and don't yet have a Will, now is the perfect time to start the conversation. Contact our Wills and Estates team today on 1800 815 228 or enquire online to discuss your estate planning needs.