Why Gen X needs a will now

The sandwich generation squeeze

If you’re Gen X (roughly 45-60), you’re likely caught between:

Children — Some still at home, some adults, some with their own kids
Ageing parents — Who may need care or financial support
Peak assets — Mortgage progress, super growth, investments accumulating
Career demands — Less time to think about “what ifs”

This complexity is exactly why you need a will — and why a simple one from 10 years ago probably isn’t enough anymore.

Your estate has grown

Think about what’s changed since you last looked at your will (or first thought about making one):

Property values have increased significantly
Your super balance has grown substantially
You may have inherited from parents
Investment portfolios have expanded
Business interests may have developed

🇦🇺 In Australia: If your estate exceeds certain thresholds, your beneficiaries may face complications with Centrelink, aged care costs, or family trust distributions. Proper planning now can save significant money later.

Children at different stages

A will written when your kids were toddlers doesn’t work when they’re adults. Consider:

Minor children — Still need guardians appointed and money held in trust
Young adults (18-25) — Legally adult but may not be ready for a large inheritance
Adult children — May have partners, debts, or circumstances you want to consider
Grandchildren — Do you want to include them directly?

A testamentary trust can protect inheritances from divorce, bankruptcy, and poor decisions — regardless of your children’s age.

The blended family factor

Many Gen Xers are in second marriages or long-term relationships with children from previous partnerships. This creates questions:

Does your current partner get everything?
What about children from your first marriage?
Are stepchildren included?
What happens to the family home?

Without clear instructions, these situations often end up in court.

Executor reality check

If you named your parents as executors years ago, it’s time to reconsider. Are they still:

Capable of managing a complex estate?
Likely to outlive you?
Willing to take on the responsibility?

Similarly, if you named a sibling or friend, have their circumstances changed?

Ageing parents and your responsibilities

If you’re supporting ageing parents financially or practically, what happens if you die first? Consider:

Who continues their care?
Are there funds set aside for their needs?
Have you discussed this with siblings?

What to do now

Find your current will — When was it made? Is it still accurate?
Review your super nominations — Are they current and binding?
List your assets — Use our Asset Inventory Checklist
Consider a testamentary trust — Especially with adult or nearly-adult children
Update or create your will — Don’t let complexity be an excuse for inaction

💡 Reality check: The busier you are, the more important a will becomes. Your family shouldn't have to sort out your complicated life without instructions.