“Talking about death and money can be tricky. How do you bring up the subject of estate planning and who gets what in the will?”

Don’t fret. Learn to throw your voice like a ventriloquist and then, at the reading of the will, pretend to be God and declare everything was left to you.

If you don’t think you could pull that off, listen up.

The “normal” thing to happen when someone dies is to leave everything to your partner, or equally to your children. And that’s generally how the courts treat it.

But if you don’t have immediate family, have the Brady Bunch thing happening, are defacto, gay, have an ex-, have some crumpet/beefcake on the side, have other children, fear one of your brood couldn’t handle an inheritance, are estranged from your family – and that’s just the start of the list – then you need a will and some further estate planning.

Take Mick Jagger. Just the two marriages, but seven children to four women. Lucky he’s got $500 million or so to go around.

Up-to-date wills are essential. But because wills can be contested, you should talk to those affected. It’s a potentially nasty conversation, but lawyers say it makes challenges far less likely.

Gen Xers should do two things. First, make the tough decisions about your own estate and then speak to anyone who may feel aggrieved. Second, have a chat to your parents about any potential surprises.

If the timing feels awkward, use the next family health scare or death to raise the issue – people will understand your focus on it.

Bruce Brammall is the author of Debt Man Walking (www.debtman.com.au) and a licensed financial adviser.