Without a will, you deprive yourself of the opportunity of deciding how your assets are to be dealt with on your demise. Our experienced team provides quality power of attorney legal advice to ensure that your wishes as to the management of your affairs be accurately recorded. This will ensure that your chosen attorney has your instructions as to the manner in which you wish he or she to act when assuming that role.
On your death, your estate includes any assets you own at the time of death, including cash, savings, investments and real property. Leaving a valid Will provides your executor with instructions as to how your estate is to be administered and to whom your assets are to be distributed. Without a will, your estate is administered in accordance with the law governing an intestate estate i e where there is no valid will. You deprive yourself of the opportunity of deciding how your assets are to be dealt with on your demise.
There may be jewellery, art work, collectibles, photos that you wish to be the property of special person in your life. You may have a very definite plan for your funeral. You may wish to name the person whom you consider is best suited to act as guardian for your minor children. It is your right to decide who is to receive your assets on your death, subject to the legal requirement for you to make proper provision for certain family members and dependants.
Our people have decades of experience in advising will makers, drafting wills and finding solutions for the full range of testamentary options. Irrespective of the size of your estate and the complexity of your financial affairs we have the expertise to draft your will to take account of the testamentary outcome which you seek.
Powers of Attorney
Powers of attorney are deeds in which you (the principal) can nominate a trusted person or entity (the appointed attorney) to make financial, personal and medical decisions when you no longer have the legal capacity to make those decisions yourself.
The three main types of powers of attorney are:
General power of attorney
Enduring power of attorney (financial) which will continue to be effective when you lack capacity
Appointments of persons to make medical decisions when you lose capacity to do so your self
The choice of the person or persons who is/are to take responsibility for decisions with regard to your financial and medical affairs must be considered carefully in view of the weight of responsibility that the attorney bears.
The attorney you appoint to manage your financial affairs has fiduciary duties which include acting in your best interests and avoiding any conflict of interest. An attorney operating under an Enduring Power of Attorney (Financial) must keep and preserve accurate accounts and records of all dealings and transactions and ensure that he or she receives no financial benefit from the office of attorney unless this is authorised by the power.
For more information or to speak with a power of attorney lawyer please contact our office: 03 9646 4477