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Why do I need a Will?
A Will is legal document that clearly sets out who you wish to receive your assets after you pass. It is the only way to ensure your assets will be distributed in accordance with your wishes.
If you pass without a Will, no one will be aware of your intentions. You will be considered as ‘dying intestate’, and your estate will be distributed in accordance with a formula which will result in particular family members receiving a set percentage of your assets, despite what you may have wished. It is not a pleasant experience for your loved ones and can create unnecessary emotional stress and may even mean someone you love may miss out on your wishes. If you pass without a Will and have no surviving relatives closer than cousins, the state government will receive your estate.
Why do I need a Power of Attorney or Enduring Guardianship?
A Power of Attorney and Enduring Guardianship is essential to put a plan in place for any future incapacity.
If you become unable to make decisions about your finances, your medical treatment or living arrangements, having these documents in place will ensure that the person(s) who you trust to make these decisions can do so unhindered.
To assist you in your estate planning, and the preparation of all required documents, we offer a flat professional fee, which provides you with certainty of cost up front.
Why do I need an Advanced Care Directive?
An Advanced Care Directive is a legally binding document that sets out your instructions and wishes for medical treatment when you are medically incapacitated and/or you are receiving medical treatment and do not have decision-making capacity.
The Advanced Care Directive should be prepared by everyone over 18 years of age as it is used in any emergency situation and it not only applicable in end-of-life situations.
Your healthcare provider or medical practitioner will consult the Advanced Care Directive when making clinical decisions and the directive informs your family members, Power of Attorney and Enduring Guardian of your wishes and assists them to make decisions on your behalf.
Your wishes may also change over time, and you Advanced Care Directive should be reviewed regularly and kept up to date.
How can we help?
Our qualified Estate solicitor can cut through the overwhelm and:
- Advise you in relation to appropriate legislation;
- Advise you in relation to choosing the right executors, attorneys and guardians;
- Minimise the chance of your estate being contested; and
- Safely store your estate planning documents and any other important documents in our safe custody indefinitely and free of charge.
Frequently Asked Questions
Once you have turned 18, you are likely receiving a pay cheque and your employer is paying money into your superannuation account. While you may only own a second- hand car and a phone and are more concerned with paying off your HECS debt, it is important you have a Will drafted to protect yourself and your family.
If you were to pass without a Will and there is a death benefit or life insurance policy associated with your superannuation, family members you have had little previous contact with may potentially receive a share of your estate.
Additionally, if you pass without a Will, your family may have to apply to the Court to administer your estate and ensure the legal process is followed, which will cost both substantial time and money in an already very difficult situation.
A Will can only be used if it can be located. Storing your Will in a safe and secure place is extremely important. We recommend that you store your estate planning documents all together, along with any original Certificate of Titles etc you may hold, and that you inform the executor/s of the Will where the original is stored.
We offer a free, safe and secure place to store your estate planning documents, which are easily accessible when needed.
