Estate planning is more than just making a Will; it is making decisions about the distribution of your assets, including superannuation, after you have died, so that your family will be cared for and so that the amount of tax and other costs is minimised. While no one wants to think about dying, it is an unavoidable part of life and if you prepare for it ahead of time your family will have much less stress to contend with.
In addition, your wishes about the distribution of your assets will be carried out, with your beneficiaries getting what you determine they should have. If you die intestate – without a will – this is unlikely to happen. In fact, with the complexities of families these days there could be a great deal of argument between all the family members, each wanting to get a share, or perhaps more than their fair share.