Forgotten Aspects of your Estate Plan
When most people think about estate planning, they focus on their Will. Others may also consider an Enduring Power of Attorney or even a Testamentary Trust. But a truly comprehensive estate plan goes beyond these core documents.
As we move through 2026, it’s essential to take a closer look at some often-overlooked aspects of your estate plan—elements that, if neglected, can cause confusion, disputes, or financial complications for your loved ones after you pass away. Here are three key areas to review and address as part of your estate planning process this year.
1. Superannuation Death Benefit Nominations
Your superannuation is not automatically dealt with by your Will. Instead, it is governed by the rules of your superannuation fund and any death benefit nominations you have made. Failing to update these nominations, or letting them lapse, can result in your super being paid in a way that doesn’t align with your wishes.
Super death benefit nominations can be binding or non-binding, and some (especially retail or industry funds) expire after three years unless renewed. It’s crucial to:
Log in to your super fund account to check if a nomination is in place.
Confirm whether it is still valid and binding.
Ensure the nominated beneficiary is appropriate based on your current relationships and family situation.
Under superannuation law, only certain individuals can be nominated directly—typically a spouse, children, or a financial dependent. If no suitable person fits that category, your estate may need to be nominated instead, but this should be carefully considered with legal advice.
A current, valid nomination ensures your superannuation is distributed as intended without unnecessary delays or disputes.
2. Advance Health Directive (AHD)
An Advance Health Directive is a formal legal document that allows you to record your preferences for medical treatment and end-of-life care in the event you lose capacity to make or communicate those decisions.
While many people are familiar with Enduring Powers of Attorney (which appoint decision-makers), an Advance Health Directive goes a step further by:
Providing specific instructions for future healthcare and treatments.
Documenting consent or refusal for procedures such as life support or resuscitation.
Offering clarity and peace of mind for your loved ones during emotionally difficult times.
In Queensland, the Advance Health Directive must be completed using the approved form and signed in consultation with your treating doctor. It can also include the appointment of a health attorney, although this is optional if you already have one under your Enduring Power of Attorney.
This document is especially valuable for:
Those who are elderly or facing significant medical conditions.
Individuals without a close next-of-kin or trusted decision-maker.
People who foresee potential family conflict around end-of-life decisions.
Although not everyone will require an AHD, it’s a helpful document in many circumstances and worth considering as part of your broader planning.
3. Business Succession Planning
If you’re a business owner, company director, shareholder, or trustee, succession planning is a critical yet often overlooked part of your estate plan. The implications of failing to plan can be significant especially for sole directors or trustees with no clear successor.
Here are some questions to consider:
What happens to your business if you suddenly pass away or become incapacitated?
Is there a successor named in your company constitution, shareholders agreement, or trust deed?
Will the business operations, payroll, and employees be left in limbo?
Do you have a plan for your shares, voting rights, or the appointment of new trustees or directors?
It’s important to:
Review your current corporate and trust documents.
Update your Will to include specific provisions for business interests.
Consider a formal shareholders agreement or trust deed variation if needed.
This aspect of estate planning is particularly relevant for small business owners, professionals operating through trusts or companies, and individuals involved in family businesses. With estate values increasing due to property and superannuation growth, business succession planning is now more important than ever.
Taking the time to review these three elements—superannuation nominations, advance health directives, and business succession planning—can help ensure your estate plan is complete, up to date, and aligned with your wishes. These are not just administrative details. They are key safeguards for your family, your health, and your legacy.