Why This Checklist Matters

Estate planning isn’t just about writing a will – it’s about making sure every piece of your financial and legal framework works together when life changes, laws shift, or unexpected events occur.

Without a clear, updated plan, you could face:

• Disputes over control of trusts.
  
• Unintended tax consequences.
  
• Family‑law risks in blended families.
  
• Gaps in governance and decision-making.

This Estate Planning Matrix Checklist helps you spot issues early so you can protect your wealth and avoid costly surprises.

How To Use It

Set aside about 10 minutes and work through each section in order:

• Tick what applies.
  
• Note any documents you need to locate or update.
  
• Mark anything unclear to revisit with your accountant or lawyer.

When you’re done, you’ll have a clear, prioritised action list and a strong starting point for a conversation with your adviser.

Estate Planning Matrix Checklist

1. Wills & Testamentary Planning:

• Do you have a valid, up-to-date will? 
  
• Have you reviewed your will in the last 3 years? 
  
• Are all intended beneficiaries clearly named? 
  
• Have you considered testamentary trusts for minor or vulnerable beneficiaries? 
  
• Does your will reflect recent life changes (e.g., marriages, divorces, children, other inheritance)? 
  
• Have you appointed a reliable executor, along with a backup? 
  
• Have you obtained appropriate legal and tax advice 

2. Trusts & Succession Structures:

•  Is your trust deed current and compliant with 2025 regulations? 
  
• Are successor trustees clearly named or appointed? 
  
• Have you reviewed Family Trust Elections (FTEs) and Interposed Entity Elections (IEEs)? 
  
• Are beneficiary definitions clear and up to date? 
  
• Is there a documented plan for trustee incapacity or death? 
  
• Are trust distributions properly documented before 30 June each year? 
  
• Have you considered the impact of trust vesting dates? 

3. Succession Traps to Avoid:

• Is control of the trust clearly defined and protected from disputes? 
  
• Have you reviewed tax implications of future trust distributions or what will occur ? 
  
• Are you confident your trust offers adequate asset protection? 
  
• Have you addressed potential family law risks (e.g., divorce, blended families)? 
  
• Is there a governance framework for decision-making and record-keeping? 

4. Tax & Regulatory Compliance:

• Are you aware of the proposed 30% minimum tax on non-participating adult beneficiaries? 
  
• Have you reviewed the potential CGT discount and negative gearing changes? 
  
• Are your trust resolutions and distributions aligned with ATO expectations? 
  
• Have you considered ASIC scrutiny on trust splitting and restructuring? 

5. Powers of Attorney & Guardianship:

• Do you have an enduring power of attorney in place? 
  
• Have you appointed a medical decision-maker? 
  
• Are these documents aligned with your estate and trust planning? 
  
• Have you reviewed these appointments in the last 3 years? 

6. Governance & Family Communication:

•  Is there a documented succession plan for trustees and business owners? 

• Have you communicated your estate intentions with key family members? 

• Is your estate plan integrated with your business succession strategy? 

• Do you have a tax governance framework for your family group? 

6. Governance & Family Communication:

• Have you reviewed your estate plan with legal, financial, and tax advisors? 

• Are all documents stored securely and accessible to trusted parties? 

• Do you have a calendar reminder for your next estate planning review? 

Secure Your Future with Strategic Estate Planning

By taking proactive steps to review and update your estate plan, you’re not only safeguarding your wealth, but also creating long-term security for your family and business. This checklist provides a practical framework for estate planning, covering everything from wills and trusts to succession strategies and governance.

Whether you’re a business owner, trustee, or simply planning for the next generation, understanding your estate planning options is essential. Download the full Estate Planning Matrix Checklist to start your review and stay ahead of legal, tax, and family risks.

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