I don't know how it is in OZ, but in the US, about 67% of the adult population has done no estate planning, no will, no trust, no nothing. Essentially this amounts to a massive gift to States and their corrupt probate systems to loot your holdings after you've fallen off the twig.Admittedly I’m not the most forward thinking or best organised person around
But my wife has organised for one of the boys to come around to help me do an audit of my wine cellar and cigars
Has my doctor been telling her something I’m not aware of ?
After doing some research on just how badly ones loved ones can be stripped by various state ptobate legal systems, I did my trust about 20 years ago. Properly executed, a trust can offer great protection against estate taxes. Or, you can buy some lawyer another Maserati.