Wills, Powers of Attorney and Enduring Guardians
Planning for a future when you are no longer around, or you are unable to make your own decisions concerning your personal finances or welfare, can be very difficult.
At CDQ we understand the issues that may be of concern and can guide you through the legal planning process to ensure that your wishes are upheld. We can help you to prepare legally binding documentation that will ensure your financial affairs are managed according to plan, your wishes regarding your health and welfare are considered and that your chosen beneficiaries are taken care of in the event of your passing.
Preparing a Will
Today's family units can be complicated so it is vital that you make the best possible decisions in relation to your estate.
A legally binding Will can ensure that you adequately provide for the beneficiaries you would most like to receive your assets when you are gone.
Our experienced solicitors will discuss your individual situation with you in detail, and provide advice to ensure that your Will is legally binding. We can help you to make sure that the people you most want to benefit from your estate do, and we can help you to protect your estate from potential claims in the event of your passing.
Whilst it can be quite confronting to think about making a Will, a little time and effort spent planning and preparing now, could save your family and loved ones a lot of stress (and money) later.
Powers of Attorney
A Power of Attorney is a formal document giving another person the authority to make financial decisions on your behalf. Financial decisions relate to the management of your finances (e.g. paying your bills and taxes, selling or renting your home, using your income to pay for your needs or invest your money).
There are two basic types of Power of Attorney:
1. A General Power of Attorney
This is generally used to appoint someone to look after your finances for a specific period of time - such as while you are overseas for an extended holiday. You may use a General Power of Attorney so that someone else can pay bills for you or organise the sale of your home on your behalf for example.
2. An Enduring Power of Attorney
An Enduring Power of Attorney is used when you no longer have the mental capacity to make financial decisions for yourself. This reduced capacity may be due to illness, injury or dementia for example. An Enduring Power of Attorney must be made whilst you still have the mental capacity, however you can determine when you would like it to come into force (for example you may want it to apply straight away, or at a certain point in the future such as when you lose capacity).
The experienced estate lawyers at CDQ can discuss your personal situation and any concerns you may have regarding the management of your financial affairs. They can also help you to determine the most appropriate appointment and when it should be used. You can trust your CDQ lawyer to provide professional, independent and practical advice at all times and this will be vital in the preparation of your legal documentation.
An enduring guardian is someone you appoint to make personal or lifestyle decisions for you when you are not capable of doing this for yourself. You choose which kind of decisions you want your enduring guardian to make on your behalf, such as health care and medical treatment options, consent to dental treatment, accommodation decisions, and personal care services. You can also leave specific instructions as to the decisions you would like your Guardian to make and how (eg. whether they need to consult with anyone else before giving consent).
Your CDQ lawyer can provide advice as to the most appropriate appointment and any conditions or special instructions that you may want to leave.
For further information and to make an appointment, please contact our experienced Wills & Estates team at CDQ today on 02 8566 2400.