Estate planning for isolation or illness

Much has been made of panic buying as many Australians rush to protect their families from the perceived risk of dwindling supplies, whether that fear is reasonable or not.

But what about protecting your family financially? Economic risk is not the only issue being faced. What about managing your affairs during isolation or illness?

If you do not have an estate plan or you haven't reviewed it recently, it's time to deal with it. Urgently.

Review your will

When was the last time you looked at your will? Check your executors, guardians for minor children, any specific gifts and your beneficiaries.

Is your will enough? Is isolation going to increase existing family tensions? Have you had an advice on how to limit the prospect of challenges against the assets of your estate? If there is a risk your wishes won't be respected, it's important to remember that generally the only people who gain from families fighting are the lawyers dealing with the dispute.