Estate Planning for Mums
What to Start Thinking About When You’ve Got Kids Under 18
When you’re raising little ones, it can feel like you barely have time to think beyond the next school lunch or load of washing. But one of the greatest gifts you can give your children – and one of your highest responsibilities – is a plan. A plan that protects them emotionally and financially if something unexpected happens to you.
Estate planning isn’t just for the wealthy. It’s for anyone who wants to have a say in what happens to their kids, their assets, and their legacy. If you’re a mum with children under 18, here are some of the key things to start thinking about.
1. What do you own? (And what do you owe?)
Start by getting clear on your assets and liabilities. This doesn’t need to be complicated.
Assets might include:
Your home or investment property
Car or caravan
Bank accounts
Superannuation and any life insurance
Shares, crypto, or other investments
Cars, sentimental items, or valuable belongings
Liabilities include things like:
Your mortgage
Credit cards or personal loans
Getting a snapshot of your financial position helps you make thoughtful decisions about who receives what, how your loved ones will be cared for, and, for your estate planning lawyer, what strategies might be used in your plan.
2. Who would raise your children if you couldn’t?
Choosing a guardian is one of the most emotional parts of estate planning—but it’s also one of the most important.
Ask yourself:
Who shares your values and parenting style?
Who has the capacity—emotionally, physically, and financially—to raise your children?
Would they work well with your extended family?
What is their relationship like with your child?
You can (and should) appoint a guardian formally in your Will, so there’s no ambiguity if something happens. A Letter of Wishes can be a valuable tool for you to record your parenting directions and wishes for anyone caring for your children.
3. What kind of future do you want to set up for your children?
Many parents worry about their children inheriting a large sum of money too young and being unable to predict what their long-term future might bring. That’s where a Testamentary Discretionary Trust (TDT) can be incredibly powerful.
With a TDT, you can:
Give your children financial support without handing over everything at 18
Appoint trusted adults (like siblings or close friends) to manage funds until your children are older
Reduce tax paid on income earned by the trust
Offer greater protection against future relationship breakdowns or creditors
This is a smart and flexible way to ensure your kids are cared for—now and into adulthood.
4. Are there any specific gifts you want to leave?
Some things carry deep emotional value. You might want to leave:
Jewellery, art, or heirlooms
A donation to a cause that’s meaningful to your family
You can include these as specific gifts in your Will. It’s a beautiful way to pass on not just things, but love, intention, and legacy.
5. What are your priorities?
This is your plan—so it should reflect your family’s unique needs and values. For example:
Do you want to make sure there’s money set aside for your children’s education?
Are you hoping to support a surviving partner, or extended family members?
Is it important to you that your children stay in your home if possible?
We help you get clear on your goals and build a plan around them.
6. Superannuation + Life Insurance: Are they set up correctly?
Many parents assume their superannuation and life insurance will automatically go to their children or partner. But that’s not always the case.
We help you check:
Who your nominated beneficiaries are
Whether your nominations are binding
How your super can be structured to support your children via a TDT in your Will
These are some of the biggest assets many young families have—so let’s make sure they’re working for you.
7. What would make you feel more at peace?
Estate planning is ultimately about love and peace of mind.
It’s about knowing that, if the worst happened, your children would be cared for in the way you hoped. That your partner, family, or friends wouldn’t be left making impossible decisions without guidance. That your voice would still be heard—even if you’re no longer here.
You’re not alone in this.
At Sun Wills & Estates, we work with mums just like you—juggling the big and small stuff of life while quietly doing everything to protect the ones they love. We walk you through every step, explain things in plain English, and help you create a plan that gives you confidence, clarity, and calm.
Ready to get started?
Book a consultation or reach out with any questions—no pressure, just support.