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Don’t leave behind a financial mess.

Money matters
28 February 2020 | clock 5 min read 


Having your financial affairs in order when you pass away may make a difficult time a little easier on your family.

father and son 

By developing a plan and getting your paperwork in order, you can control your finances and be confident your loved ones have one less thing to worry about when you have gone.

Here are five simple steps you can take to protect the important people in your life.

  1. Ensure your bank accounts can be accessed by your partner or a family member when you die. Check with your bank about how your family can access your money.
  2. Review your assets and work out which ones will be passed directly to beneficiaries and which will have to go through your estate. For example, property jointly owned will automatically transfer to your partner when you die. However, if you alone own the property, it will need to be dealt with in your Will.
  3. Check your insurance cover to make sure anyone who relies on you for financial support will be looked after. Life insurance will pay a lump sum to your beneficiaries when you die. You can find out how much insurance you need using our Insurance Needs Calculator.
  4. Review who will be the beneficiaries of your super and life insurance. As super is held in a trust, it is treated differently from your estate, and can't just be included in your Will.
  5. Keep all of your personal documents in order and safe. Here’s a list of legal and financial documents ASIC’s Moneysmart website1 suggests you compile and keep safe for your family to access:
  • Birth certificate
  • Marriage certificate
  • Will
  • Enduring power of attorney
  • Advance healthcare directive (also called a living will)
  • Life insurance policies
  • House deeds
  • Home and contents insurance
  • Deeds and insurance policies for any other real estate you own
  • Bank account details
  • Superannuation papers
  • Investment documents (securities, share certificates, bonds)
  • Medicare card
  • Medical insurance details
  • Pensioner concession card
  • Any pre-paid funeral arrangements


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1. Australian Securities and Investments Commission, MoneySmart, February 2019, Money musts before you die, accessed 31 December 2019 at www.moneysmart.gov.au