A guide for mortgage brokers: Why you should be talking to clients about wills

As a mortgage broker, you guide clients through one of their biggest life moments: buying a home. You are a trusted expert helping them secure their future. However, once the keys are in their hands, an important aspect of that security is often overlooked. This is an opportunity to go one step further and talk about broader financial protection, especially estate planning.

This guide will walk you through the protection gap many Australian homebuyers have, how you can help them address it, and how doing so helps both your clients and your business.

The Protection Gap Many Homebuyers Face

After assisting your clients with getting the keys to their dream home, a significant piece of the puzzle often gets missed: what happens to that home if something happens to them?

The reality is, most Australians are unprepared. Recent statistics show that only 42 per cent of Aussies have a current will. The numbers are even more concerning for the exact people you’re helping into new homes. Around 64% of Australians with minor children don't have a will.

So why the hesitation? It usually comes down to a few common myths:

• “I don’t have enough assets.” Your client just bought a house. That’s a massive asset that needs protecting.
• “It’s too expensive.” This is a big one. About 48% of people think it will be too expensive, picturing significant legal bills, though this is not always the case.
• “It’s too complicated.” Another 44% think the process will be too hard and get stuck before they even start.
• “I’m too young.” The prime home-buying demographic often feels invincible, but life is unpredictable.

This is where you come in. By simply starting a conversation, you can help your clients see past these myths and address a huge gap in their financial plan. You are not just securing a loan; you are helping them secure their legacy.

Client Benefits of Estate Planning Discussions

Bringing up the topic of wills isn't just about ticking a box. It’s a conversation that builds real trust and shows you genuinely care about their long-term well-being. Here’s what’s in it for them.

Securing Their Largest Asset

For most people, their home is the largest asset they'll ever own. Without a will, the laws of intestacy, which vary by state, decide who inherits it. That strict legal formula might not be what your client wanted at all, causing massive problems for de facto partners or blended families.

A legally valid will removes the guesswork. It provides clear, binding instructions on who gets the property, making sure their biggest asset goes to the people they intended, without the risk of expensive legal battles or family fights.

Protecting Their Family's Future

If your clients have children under 18, this is a very important reason. A will is the only legal document where they can appoint guardians to care for their kids if the unthinkable happens.

Without this legal appointment, the decision is left up to the courts. This can cause stress and uncertainty for the family, who are already going through a difficult time. For the young families you help into their first home, this point is a must-discuss. It’s about making sure their children are cared for by the people they trust, no matter what.

Reducing Legal Costs and Stress

When someone passes away without a will, it's called "dying intestate." This starts a long and expensive legal process for the family left behind. They have to apply for 'Letters of Administration', which involves proving who the rightful heirs are according to the law. It’s a challenging administrative process during a period of grief.

A will streamlines everything. It appoints an executor, someone your client trusts, to manage the estate and hand out the assets according to their instructions. This saves the family from months of administrative headaches, potential arguments, and unnecessary legal fees.

Professional Advantages for Mortgage Brokers

The benefits aren’t just for the client. Weaving this conversation into your process can have a positive impact on your business, your reputation, and your bottom line.

Deepen Client Relationships and Build Trust

Talking about estate planning changes your role from someone who just handles the loan to a guide who looks at their whole financial picture. It shows you care about their entire financial situation, not just the mortgage. This level of care builds loyalty and positions you as an essential part of their financial journey, making it more likely for them to come back to you for their next loan or refinance. You become their preferred partner for the long term.

Improve Business Retention and Referrals

If you do not discuss will-making with your clients, another professional might. When that client eventually gets advice from a solicitor or a financial planner, that professional might also offer mortgage services or refer them to another broker.

By addressing this need yourself, you maintain your client relationships. On top of that, clients who feel genuinely looked after become your biggest advocates. They’re far more likely to refer friends and family to the broker who helped them protect their new home and their family.

Uncover Opportunities for Holistic Financial Advice

The will-making process naturally brings other financial topics to the surface, like superannuation balances and life insurance policies. This is a great chance to spot potential gaps in your client's overall financial protection.

It can open the door to a conversation about life insurance or income protection, either directly or through a referral partner in your network.

A Modern Solution to Recommend

The good news is you don’t need to be a legal expert. You just need to know about a trustworthy, simple, and affordable solution you can confidently recommend. Instead of expensive and slow visits to a lawyer's office, online platforms have made the process easier.

Willfully is an ideal solution designed for the exact clients you work with every day. It lets them create a legally valid will online, often in under 20 minutes from their own couch.

Here’s why it’s a credible and safe recommendation you can feel good about:

• Lawyer review is included: This is a significant feature. Unlike basic DIY templates that can have errors, every Will from Willfully is checked by a qualified Australian lawyer to ensure it’s legally compliant.
• Transparent and affordable pricing: There are no surprises. It’s a simple, one-off fee of AUD $159.99. This removes the fear of high costs that stops so many people from getting it done, especially when a traditional lawyer can charge more.
• 12 months of free updates: Life changes, especially for new homeowners. They might have a baby, change jobs, or get an inheritance. Willfully allows them to make unlimited updates for a full year for free, giving them flexibility and peace of mind.
• Bank-grade security: Client privacy is critical. Willfully protects all personal data with AES-26 encryption, the same standard used by banks. Both you and your client can be confident their information is safe.

To better understand the practical benefits of integrating estate planning conversations into your workflow, here is a helpful video that explores the opportunity from the perspective of mortgage brokers and estate agents.

Solidify Your Role as a Trusted Advisor

Talking about wills is a true win-win. Your clients get the essential protection they need for their new home, their assets, and most importantly, their families. You get to build deeper, more meaningful relationships, improve client retention, and stand out from the competition as an advisor who truly cares.

With modern legal tools like Willfully available, starting this crucial conversation has never been easier or more important. You’re not just helping people buy a house; you’re helping them build a secure future.

Protect your clients' futures and grow your business. See how Willfully makes estate planning simple, affordable, and accessible for every Australian homebuyer.