Estate planning has traditionally been seen as something for older Australians or those facing serious illness. But a growing number of young people are now getting their affairs in order, viewing estate planning as just another aspect of being organized and financially responsible.
According to Willed.com.au, one of Australia’s leading online estate planning platforms, around 30% of their customers are now under 40, with significant growth in the 25-35 age bracket. This surge in younger users often coincides with major life milestones such as buying property, getting married, or having children.
“We’re seeing a real shift in how younger generations view estate planning,” explains David Kaplan, co-founder of Willed. “It’s becoming part of their overall life admin routine, alongside budgeting apps and health tracking. The pandemic has also influenced attitudes, making many young people realize that having your affairs in order isn’t just for older generations.”
The rise of digital assets has added another layer of complexity to estate planning. From cryptocurrency investments to social media accounts, younger Australians want to ensure their digital legacy is protected.
Pet care arrangements are another priority for young will-makers. With more young Australians delaying marriage and children but having pets, ensuring their furry family members are cared for has become a key consideration in estate planning.
The process is also more accessible than ever. Online platforms have made it possible to create a legally valid will from home, often at a fraction of the traditional cost. Most young people complete their will in under an hour, making it an achievable weekend task.
Tips for Young Estate Planners
- Consider your digital assets, including social media accounts and cryptocurrency
- Make specific provisions for pets if you have them
- Update your will after major life events
- Keep a clear record of your accounts and passwords
- Inform your executor of your will’s location
For many young Australians, making a will is no longer a morbid task to be put off until later life. Instead, it’s becoming another tick on the self-care checklist — right up there with managing their finances and planning for the future.