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Writing your will
A will is an important legal document. It sets out how you want to distribute your estate or personal assets after death.
You can include instructions, such as:
- funeral or memorial service wishes
- burial or cremation wishes
- guidance for the care of pets.
If you die and don’t have a will, your state or territory government will try to find a close relative. If they can’t find a relative, chances are your estate will go to the government.
Attend one of our free Financial Information Service (FIS) seminars about estate planning.
Making your organ and tissue donation wishes known
If you want to be an organ and tissue donor, it's important to register. You should also let your family know. They'll have the final say.
Donating your organs could save up to 10 lives and improve many more. Transplants give people a second chance at life. At any time, more than 1,300 Australians are on organ transplant waiting lists.
Planning for your funeral
You should let your family and friends know if you want a funeral or not. It’s not a legal requirement in Australia to have a funeral.
If you want a funeral, you should tell your family and friends how you would like your funeral. It’ll help them make decisions during what may be a very difficult and stressful time. A funeral can include any of the following:
- a viewing or visitation
- a funeral service
- a burial or cremation ceremony.
If you don’t want a funeral, you should tell your family and friends what you would like them to do.
You can add an instruction in your will to whether you want a funeral or not.
Deciding between a burial or cremation
It’s important to tell your family whether you want to be buried or cremated when you die. Even if you choose not to have a funeral, you still need a burial or cremation.
If you choose a burial, after you die, your body will go in the ground or a vault, normally at a cemetery.
If you choose a cremation, after you die, your body becomes ashes by fire. Your family can then store or scatter your ashes as per your wishes.
Saving for your funeral
If you have a funeral plan, you can work out how much it might cost. Putting aside a little money regularly can help you save for your own funeral.
If you get a Centrelink payment, you may be able to use Centrepay to financially assist with setting up for your future funeral costs. You can set up a Centrepay deduction by telling us how much you want to transfer to transfer to the funeral plan. If you do, we’ll take the deduction amount from your Centrelink payment before you get it.
It’s important you tell your family, the executor, or administrator of your will about your funeral plan and how to access the money to pay for your funeral. To access the funds, they need to give evidence of their relationship to you including proof of your death and the funeral costs.
You may choose to pay for your funeral in full before you die. There are a few options to choose from. These include:
- pre-pay your funeral for an agreed service and remember to include a copy with your will for your executor or administrator.
- invest your money in a funeral bond who will release the funds to the estate or the funeral director if you nominate one
- take out a funeral insurance policy, which is a lump sum payment towards the cost of a funeral in the future.
Superannuation
Many superannuation funds include life insurance, death and disability insurance. You should check to see if yours does.
Ask your superannuation fund what will happen to your superannuation when you die and who they’ll pay it to. Unless you tell them, the super fund trustee may decide who to make the payments to.
Read about superannuation death benefits on the Australian Taxation Office website.
Getting help with your money
You can speak to a financial counsellor by contacting any of the following:
- your local Community Information and Referral Service
- a Welfare Rights Centre
- the Rural Financial Counselling Service on the Department of Agriculture, Fisheries and Forestry website.
You can speak to a financial counsellor if you:
- would like help to work out a budget
- would like to know which products best suit your needs
- are in financial trouble.
The National Debt Helpline offers free financial counselling. If you’re in financial difficulty, you can get free advice and a clear picture of your finances. Find a financial counsellor in your area on the National Debt Helpline website.
Moneysmart has information to help you plan for your own funeral or the funeral of a family member. The following links will take you to the Moneysmart website: