MAKING A WILL
A Will is a document containing your wishes in relation to how you wish to distribute your assets in the event you pass away.
There is no one answer to how to prepare your Will. It depends on your assets, your personal circumstances and who your beneficiaries will be. You need to make a Will that makes your wishes clear, avoids confusion and is legally binding. Doing this will protect your family and friends from costly and stressful legal disputes.
Your Executors have the legal and administrative task of sorting out your assets and debts after you die and making sure that your wishes as outlined in the Will are upheld.
You can designate anyone as a beneficiary and distribute your assets in any way you like, however, if you don’t provide for your family and dependents, your will can be contested and your hard-won assets used on litigation fees.
You also should consider the effects that an inheritance may have on your beneficiaries. In some cases, a testamentary trust can sidestep potential taxation problems, so it’s important that you get specific advice about your situation
POWERS OF ATTORNEY
Recent legislative changes have been made to clarify laws in relation to medical decision making.
Under this legislation, you can now create an Advance Care Directive (detailing your preferred medical treatment and preferences), a Medical Treatment Power (enabling you to appoint a medical treatment decision maker for when you cannot make decisions yourself) and you can appoint a Support Person (to assist you in making your own decisions).
Contact us to discuss your particular situation with an experienced Will lawyer.