Wills and Enduring Powers of Attorney
Preparing a Will
A Will is one of the most important document that most of us will ever sign. It determines how our property is distributed upon our death. What we say in our Will is often the last thing that we say to our loved ones and the final way that we can go about helping our loved ones. Having a Will in place which states clearly how you want your assets to be distributed upon your death, allows for peace of mind for both you and your loved ones.
Executing a Will properly
It is important that your Will is clearly written and that it does what you intended for it to do. Care must be taken to ensure that trust property, including property in Self Managed Super Funds pass in accordance with your wishes. It is important to consider documents such as trust deeds, including trust deeds for Self Managed Super Funds when preparing a Will.
Avoiding Will related issues
Not only does your Will need to be correctly written and executed but it is important that your solicitor considers issues such as your capacity to make a Will and possible claims which may arise in terms of others contesting your Will. If there may be an issue regarding your capacity to make a Will, then it is important for your solicitor to obtain and preserve evidence regarding your capacity. It is also important for your solicitor to discuss possible Family Provisions claims with you and to preserve evidence from you, which supports your wishes.
Providing for your family
You may wish to include clauses in your Will for the guardianship of your children in the event of the death of one or both of the parents.
Enduring Power of Attorney
An Enduring Power of Attorney is also an important document. Such document allows for the appointment of a person or persons, who you trust to make decisions for you including financial and/or personal, and health decisions in circumstances when it may be necessary.