Many Australians die without ever making a will–this is called intestacy.
If this happens to you, your state government will distribute your assets as it sees fit. Generally, dependents and close relatives are the prime beneficiaries. But you may be estranged from some family members. Or perhaps you have a blended family. Or you may have assets overseas. What happens if you have a young family and you and your partner both die at the same time? Who will manage your assets and raise your children?
A wills and estates lawyer will help you draw up a will which reflects your wishes, and which is hard to challenge. So you can relax knowing your wishes will be followed.
You can make your own will using a template instead of advice from a wills and estates lawyer, but there are risks
An Enduring Power of Attorney (EPoA) allows someone to make financial decisions on your behalf if you no longer have the mental capacity to do so yourself. You can appoint more than one EPoA. If you don’t have one set up and something happens, there is a complicated, time-consuming process to have someone appointed. Also, it may not be the person you would have wanted.
An Enduring Guardianship works in the same way, but the person you nominate is able to make health and lifestyle decisions on your behalf rather than financial ones.
is a boutique firm of Sydney lawyers with offices in Bella Vista and West Pymble. We assist clients across Sydney’s North Shore and beyond with family law matters; wills and estate planning, and conveyancing.
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