Estate Planning
No matter what stage of life you are in, it is important to plan for the future so that your interests are protected.
Enduring Power of Guardian
An enduring power of attorney allows you to nominate one or more people to make legal and financial decisions on your behalf. Your attorneys can continue to act if you lose capacity.
Your attorney has the ability to:
- access your bank account
- pay your bills
- sell property, shares etc
- provide to your spouse/children for reasonable living or medical expenses
Appointment of Enduring Guardian
An appointment of enduring guardian allows you to nominate one or more people to make health and lifestyle decisions on your behalf in the event that you lose capacity and are unable to make those decisions yourself.
Advanced Health Care Directives
An advanced health care directive is a detailed instruction of the type of health care or lifestyle provisions you would like. It is normally prepared as a separate document to be read alongside with your enduring guardian.
Wills (including testamentary trusts if required)
Your will sets out your wishes as to who gets your assets when you die. Some important things to consider when drafting your will are:
- Who will be your executor – also consider appointing a ‘backup’ executor if your first executor is unable or unwilling to act
- Who will be the guardian of your minor children (if applicable)
- Do you want to give any specific gifts (eg jewellery etc)
- How should your assets be divided
You may also wish to consider using a testamentary trust (rather than a specific gift) if you have vulnerable beneficiaries or to maximise tax advantages. We can provide our advice based on your particular circumstances.
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