Australians are avoiding talking about wills

Research demonstrates a national hesitance to talk about wills is causing confusion about the final wishes of Australians.

 

A new survey of 1,000 Australians aged 18 to 54 years commissioned by State Trustees Victoria reveals that 95% agree that having a will is vital, yet a large proportion do not know if their parents (43.8%) and grandparents (68.4%) have written a will and where they would find it in the time of need (40%).

 

Over half of Australian's surveyed say they talk to their parents and grandparents more than before the COVID-19 pandemic. Despite this increase in communications, we seem reluctant to talk about wills with our families. The survey highlighted that over half had not had an open conversation with their parents (54.8%) and grandparents (75.8%) about their final wishes.

 

As part of the mandate as the Public Trustee of Victoria since 1851, State Trustees educates, facilitates, and assists Victorians about the importance of having a valid, up-to-date will. A key component of their education efforts includes their annual participation in the Victorian Seniors Festival where they encourage seniors to have important conversations with their families regarding their will and their wishes.

 

Michael Spiegel, State Trustees' Executive General Manager of Trustee Services said, "Conversations about wills can be hard to approach but an up-to-date will is the best way to protect family legacies and it can open the door to the conversations around the stories, recipes, heirlooms, and other important wisdom which deserve to be passed on. Such legacies have taken a lifetime to build and deserve to be protected".

 

The survey data also lifted the lid on the important legacies Australians valued from their older relatives. Amongst the top priorities were cultural traditions (48.6%), family heirlooms (48.2%), family recipes (36.3%), and financial support from parents (41%). Memories, love, faith, and family history were other meaningful themes highlighted by respondents.

 

State Trustees is Victoria's largest and most trusted provider of wills. Will appointments can now be booked online with the simple self-service booking system. As a proud supporter of the Victorian Seniors Festival, State Trustees is offering a 20% discount off Wills and Powers of Attorney to Victorian seniors during October 2021.

 

For more information about the State Trustees and to book an appointment online see www.statetrustees.com.au/wills/seniors-festival-2021.

 

20 October 2021.