That is a very interesting question and one that depends on several things. In NSW, an Act of Parliament called the Succession Act, 2006, sets
There is something about Wills that sometimes brings out the worst side of human nature. Wills have the power to divide even the closest of
Estate Planning is one of the most important matters you should attend to. Estate Planning comprises of a set of documents including your Will, Power of Attorney and Appointment of Enduring Guardian. These documents are not only protection for your future but for the protection of your family. It is important to seek advice from an experienced Estate Planning Lawyer before preparing and signing any of these Legal documents to ensure that they carry out your wishes as you intend. At Wills Lawyers central Coast, we are one of the leading Estate Planning Lawyers since 1981. We will guide you with all the steps involved to have a your estate properly managed or distributed according to your wishes.
Firstly, your Will deals with your wishes after you have passed. This means appointing someone that you wish to look after your Estate after you are gone, any specific gifts you may wish to leave and who you wish to receive your assets. You may also wish to add to your Will any directions regarding your funeral and whether you wish to appoint a Guardian for any minor children. It is very important that your Estate Planning Lawyer provide you with advice in relation to your Will to ensure that your Will is written and signed correctly.
Secondly, you may wish to make a Power of Attorney. There are 2 types of Powers of Attorney. These are General Powers of Attorney which are revoked by Death, Notice of Revocation or Loss of Capacity and Enduring Powers of Attorney which are revoked by Death or Notice of Revocation but will remain in effect even if you lose capacity (ie develop dementia or have an accident). Your Estate Planning Lawyer will provide you with advice on which one is best for you. A Power of Attorney is a document which enables your Attorney to act on your behalf in relation to property and financial matters. This means that they can operate bank accounts for you, pay your bills and sell or buy property on your behalf. An Attorney has an enormous amount of power over your financial affairs. You should choose an Attorney who you trust and who will manage your finances responsibly.
Finally, an Appointment of Enduring Guardian is a document which allows your Guardian to make medical and lifestyle decisions for you. You must be over 18 years of age to appoint one or more people to be your Guardians. At the time of appointing your Guardian/Guardians, you must have the mental capacity to understand what you are doing. The person you appoint as your Guardian must be at least 18 years of age. Your Guardian cannot be a person providing you with medical treatment, a person providing accommodation services or support services for daily living and can not be a relative of either of those. You can appoint more than one Guardian and if you choose to do so, you should make sure that they are people who can cooperate with each other to work together in your best interests.
Your Estate Planning Lawyer will be able to assist you with further information regarding your Estate Planning documents. There are many pitfalls in Estate Planning, especially if the documents are not prepared correctly or are not signed properly. It is always best to appoint an expert Estate Planning Lawyer to prepare these documents for you. Call our expert Estate Planning Lawyers now on 4324 7699 for a confidential chat.
On 20th November 2023, our office will relocate to Suites 5 & 6, Fountain Plaza, 148-158 Central Coast Highway, Erina.
Our telephone number, email address & website willl remain unchanged.