If Death is Inevitable, Why Don’t We Talk About It?

Written by Regina Hocking, Financial Adviser & Director of Rebel Wealth Management Pty Ltd. 

Death. 

It’s a topic that often sends shivers down our spines and makes us want to change the subject faster than you can say “superannuation.” 

But why is that? Why do we avoid talking about something that’s as inevitable as taxes?

For many, the thought of death is simply uncomfortable. It forces us to confront our own mortality and the reality that life, as we know it, will one day come to an end. It’s a conversation stopper at dinner parties and a topic we often push to the back of our minds. However, avoiding the discussion doesn’t make the reality any less true. In fact, it can leave our loved ones in a difficult position when the time comes.

The Importance of Keeping Your Wishes Up to Date

Now, let’s pivot to something equally important but often overlooked: ensuring your wishes are up to date. This isn’t just about having a will; it’s about making sure every aspect of your estate planning is current and reflects your true intentions.

Guardianship of Your Children

If you have young children, one of the most critical decisions you’ll make is who will take care of them if something happens to you. Without a clear, legally binding guardianship arrangement, the courts will decide for you, which might not align with your wishes. Ensuring this is up to date gives you peace of mind that your children will be cared for by someone you trust.

Personal Effects

Your personal belongings, from family heirlooms to your favourite footy jersey, hold sentimental value. Clearly outlining who gets what can prevent disputes and ensure your treasures end up in the right hands.

Estate Trustee Nomination

Choosing the right person to manage your estate is crucial. This person will be responsible for executing your will, paying off debts, and distributing your assets. An up-to-date nomination ensures that someone capable and trustworthy will handle these responsibilities.

Wills and Power of Attorneys

Your will is the cornerstone of your estate plan, but it’s not a set-and-forget document. Life changes—marriages, divorces, births, pets and deaths can all impact your wishes. Regularly updating your will ensures it accurately reflects your current situation. Similarly, having an up-to-date power of attorney ensures that someone you trust can make decisions on your behalf if you’re unable to do so.

Conclusion

Talking about death and what happens after we’re gone isn’t easy, but it’s necessary. By keeping your wishes up to date, you can ensure that your loved ones are taken care of and that your legacy is preserved according to your desires. So, let’s break the taboo and start the conversation today. After all, planning for the future is one of the best gifts you can give yourself and, in this case, to those you leave behind.

Exciting news! Rebel Wealth Management will soon be offering Estate Planning services to help you navigate important conversations, articulate your wishes, and collaborate with Lawyers to ensure they are clearly defined and legally sound. Stay tuned for more details.

Regina Hocking
Director | Financial Adviser FChFP, GradDipFinPlan

Rebel Wealth Management Pty Ltd
Authorised Representative 001234469