Young Queenslanders are putting off planning for the future as they grapple with the rising cost of living, new research has found, and making a Will is one of the future-planning tasks they are postponing.
Just one in four Generation Zs and fewer than one in three Millennials have formally recorded their last wishes, research by Queensland Public Trustee (QPT) showed.
Samay Zhouand, the Public Trustee of Queensland, said QPT’s research indicated young Queenslanders were more affected by financial stresses than older generations when it came to planning ahead.
“They’re also considerably less comfortable than older Queenslanders with their financial situation, less likely to feel confident in their ability to manage their finances and more likely to say they don’t have time to think too far ahead,” Mr Zhouand said.
Latest survey on Wills in Queensland
QPT surveyed more than 1,000 adults across the state in March 2025 to get their take on Wills and other life planning documents.
The survey, conducted by Verian and weighted to reflect the Queensland population, found:
- 72% of Gen Z respondents (aged 18-28) and 71% of Millennial respondents (aged 29-44) had not made a Will, compared with 18% of Baby Boomers (aged 61-79)
- 74% of Millennials and 65% of Gen Zs say cost-of-living pressures were impacting their ability to plan for the future, compared with 57% of Baby Boomers
- Just 29% of Millennials and 28% of Gen Zs felt comfortable with their financial situation, compared with 46% of Baby Boomers
- 67% of Millennials and 57% of Gen Zs believed they would benefit from better financial literacy education, compared with just 28% of Baby Boomers
- 46% of Millennials and 50% of Gen Zs felt confident managing their own finances, compared with73% of Baby Boomers.
The two youngest generations were also less at ease when thinking about later-life and end-of-life documents, Mr Zhouand said, noting that QPT’s survey found 58% of Millennials and 48% of Gen Zs said they felt comfortable thinking about the topic, compared to 78% of Baby Boomers.
“Young Queenslanders are politically aware and environmentally conscious, so you might imagine they were happy to think about the future,” Mr Zhouand said.
“But 40% of people we surveyed aged 28 and younger said they hadn’t made a Will because they were ‘too young’ for a Will. The fact that anyone over 18 should consider making one, especially if they have children, dependents or shared assets.”
Common myths about Wills
QPT’s survey showed young Queenslanders were also more likely to have misconceptions about Wills:
- 24% of Millennials and 22% of Gen Zs say you don’t need a Will if you don’t have ‘assets’, compared to 14% of Baby Boomers
- 29% of Millennials and 24% of Gen Zs agree you don’t need a Will if you don’t have a family or dependents, compared to 10% of Baby Boomers
- 23% of Gen Zs and 19% of Millennials believe you don’t need a Will if your loved ones are aware of your wishes, compared to 9% of Baby Boomers.
The Public Trustee of Queensland said these misconceptions could be causing young Queenslanders to miss an opportunity to leave a legacy that spelled out what was important to them.
“A Will isn’t only useful in terms of determining what happens to your money or valuable assets after you die,” Mr Zhouand said.
“It can also say, for example, who you’d like to care for your pet, who should get your treasured mementoes, what you want to happen with your digital assets or whether you’d like to leave something to a charity or cause that’s important to you.”
The Public Trustee said a solicitor should be the first port of call when considering making or updating a Will.
“Alternatively, QPT makes Wills at no cost for all Queenslanders, and we want young people to know that this service is here for them,” he said.
“After you’ve made your Will, it’s important to remember to consider updating your Will whenever you have a big life change, such as getting married, having a baby or buying or selling property.”
Find more information is available on the Wills section of this website. Call 1300 360 044 for a Will-making appointment or submit an online form to request a Will-making appointment. Call 1800 512 451 for help interpreting QPT webpages.