A legally valid and strong will, that accurately reflects your wishes.
Appointing an executor and instructing them as to its location and steps in administering it.
Power of Attorney
Placing someone you trust to act on your behalf when you cannot.
Electing someone you trust to make medical decisions in the event you lose capcity.
Creating an Estate Plan is an important step for the well-being of your family and the management of your assets after you're gone.
A comprehensive estate plan will specify your wishes in the event of your death, outlining details such as guardians for your children, the distribution of possessions, and the designated manager of your affairs (the executor).
Whether you're designating beneficiaries, planning for business succession, or granting enduring power for medical decisions, a comprehensive estate plan benefits both you during your lifetime and your family after your passing. Beyond simply distributing assets, it provides an opportunity to take control of the legacy you want to leave behind.
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A new will is critical once you are separated. Until the Court grants a Divorce Order, your spouse is likely to inherit everything under either your previous Will or intestacy provisions - despite the fact you have separated. And considering that it takes at least 12 months after separation before you can apply for divorce, you want to be prepared for anything in that time period.
Estate planning, quite simply, is the proactive process of preparing for the management and distribution of your assets upon your passing.
Your will is an important component of estate planning, but it is not the entire plan. Estate planning takes a broader persepctive to also consider trusts, Powers of Attorney, guardianship decisions, advance care directives, life insurance, superannuation death benefit nominations, and burial arrangements.
A Power of Attorney is a powerful legal tool that gives another person the authority to act on your behalf, making decisions and taking actions when you're unable to do so. This could be because you are overseas, sick, or any other reason.
Enduring Guardianship is when an individual legally appoints someone to make decisions about their health and lifestyle in situations where they cannot make those decisions for themselves.
It becomes an element of long-term life planning, where the person has someone who can make critical decisions for their health and well-being in the unfortunate event that they become mentally or physically incapacitated to the extent that they can't make decisions for themselves.
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No need to come in to the office. The team is available online and across Australia.
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Have some questions about wills and estate planning? We've compiled a list of common questions and answers for your ease of reference.
When an individual passes away without a will, it is termed intestacy, or being in intestate.
The distribution of all property then follows a legal formula. Having a will is always preferable to ensure that your property is allocated according to your wishes.
Designating a Guardian for your children in your Will can mitigate the likelihood of conflicts among family members regarding the responsibility for your children in the event of your demise. Should a dispute arise, you have presented the Court with a lucid declaration of your perspective on what is in the best interest of your child.
To prevent your family from facing legal disputes after your passing, it is important to thoughtfully plan for their well-being in your Will. In the event that a child or any other dependent perceives that they have been overlooked or treated unjustly, they possess the legal right to challenge your Will and file a claim for a portion of your Estate.
The sole means of averting a family provision claim is by ensuring that these dependents believe they have received an equitable share or 'adequate provision' from your estate.
If you wish to withhold a gift from someone in your Will, refrain from including them altogether. For instance, you could allocate all assets to your children, excluding your spouse. However, in certain cases, additional measures may be necessary. You might need to include a clause stipulating the validity of the gift to your children even in the event of your marriage to your spouse. Alternatively, you may have to explicitly define which individuals qualify as your children if there is a specific child you do not wish to include in the inheritance.
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