As the world unites to celebrate International Women’s Day 2025, the Public Trustee is calling on women to #AccelerateAction by taking control of their financial, healthcare, and legal decisions through estate planning.
According to the World Economic Forum, at the current rate of progress, full gender parity won’t be achieved until 2158. This is a staggering five generations from now. One key step in closing this gap is ensuring women have the financial knowledge and legal protections they need to safeguard their future.
Public Trustee CEO, Todd Kennedy, emphasised that estate planning is an essential but often overlooked aspect of women’s financial security.
“Women outlive men on average, yet many delay planning their estate or appointing a trusted person to ensure their wishes are known and followed,” Mr. Kennedy said.
Why Estate Planning Matters
Estate planning isn’t just about wealth—it’s about having a plan in place to protect yourself and your loved ones. A comprehensive estate plan typically includes:
- A Will – Ensures your estate is distributed according to your wishes when you pass away.
- An Enduring Power of Attorney – Appoints someone to make financial decisions on your behalf if you’re unable to.
- An Enduring Guardianship – Allows you to nominate a trusted person to make medical and personal decisions if needed.
“Having a Will and estate plan is like having a roadmap for protection and support if something happens to you. Without it, your loved ones may face unnecessary legal and financial burdens during an already difficult time,” Mr. Kennedy said.
What Happens If You Don’t Have a Plan?
If you lose decision-making capacity due to an accident or illness, and you don’t have an estate plan the Tasmanian Civil and Administrative Tribunal (TASCAT) may need to appoint someone to make healthcare or financial decisions on your behalf.
If there’s no one available or conflicts arise, the Public Trustee may be appointed for financial decisions, and the Public Guardian may be appointed for healthcare or personal decisions.
If you pass away without a Will your estate will be distributed according to the Tasmanian Intestacy Act 2010, which may not reflect your personal wishes.
Your family may also need to apply for a Grant of Letters of Administration through the Supreme Court of Tasmania, creating additional stress at an already difficult time.
Affordable Estate Planning for Peace of Mind
The Public Trustee offers professional estate planning services at affordable rates:
- Will and Enduring Power of Attorney: $140 for a single person, $210 for a couple.
- Enduring Guardianship: $140 for a single person, $210 for a couple.
A Will and Enduring Power of Attorney can be prepared for FREE for pensioners and Seniors Card holders (when the Public Trustee is appointed as executor or attorney).
“Financial security isn’t just about wealth—it’s about having a plan. This IWD, we encourage women to take that first step in securing their future,” Mr. Kennedy said.
For more information, make an appointment or call 1800 068 784.
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