Wills and Estate Planning

Wills

A will is exactly what it says, “your will” or “your wish”. It is a legal document that appoints the person or persons (your personal legal representatives) you choose to administer the distribution of your estate upon your death to those persons or charities you name and whom you want to receive the property and possessions you own.

At what time in your life should you make a will, or change your existing will?

All people over the age of 18 should make a will. Some circumstances in your life however may warrant changes to your will such as:

If you marry after the date of your will (marriage revokes a will);
If you change your name or anyone mentioned in the will changes their name;
If your named Executor dies or becomes unsuitable to act in the role due to age or ill health;
If a beneficiary dies.
If you have left property which you subsequently sell, or which changes its nature;
If your family situation changes or if there are additional children; or
If your children have turned 18 since your will was prepared and you wish to make them executors.

In any of these events, or if you simply wish to alter the provisions of your will, you should see one of our solicitors to make the necessary changes.

Enduring Power of Attorney

An Enduring Power of Attorney is an important and powerful legal document. An Enduring Power of Attorney gives the attorney the authority to buy and sell real estate, shares and other assets for the principal, to operate the principal’s bank accounts, to spend the principal’s money on their behalf and to exercise many other powers. It can be used after the Principal loses mental capacity but is not to be used after the principal dies.

Enduring Guardianship

What is an enduring guardian?
An enduring guardian is someone you choose to make personal or lifestyle decisions on your behalf when you are not capable of doing this for yourself. You choose which decisions you want your enduring guardian to make.

Why appoint an enduring guardian?
We all prefer to decide for ourselves where we live, which doctor we go to, what medical treatment we will receive and what services we will have. Unfortunately, this is not always possible. Every day people are involved in accidents or become sick. Sometimes this can lead to them being unable to make decisions for themselves.

The Guardianship Act 1987 (NSW) gives you a way to appoint an enduring guardian. You can appoint more than one guardian if you wish.

You can choose what decisions your guardian can make for you.