Let's face it nobody likes talking about wills and estate planning because it means talking about ill health and even worse - death. As someone once said to me "our family doesn't use the D-word." Unfortunately, the only way to ensure that your wishes are met in the future is to plan now.
Estate planning involves a number of actions and broadly as noted by ASIC, these include:
You can draw up these documents yourself, however, we would always recommend getting these drafted by a lawyer. We are not legal practitioners and therefore do not draft these ourselves, read more about our licensing here. however, we like to work with them to pass on our knowledge about your financial affairs and to work together to get the best result.
The answer is to think about what you want and then to act. We've seen this go badly wrong when no action is taken as per this "war story" we recently shared.