A Will is a legal document which sets out how your property will be divided after you pass away.
Under a Will, you appoint an executor who looks after your estate and carries out various duties including the collection of assets, payment of debts, and the distribution of your estate in accordance with your Will.
It is important you prepare a Will to ensure your estate is given to those you care about after you pass away and it is even more important that you consider making a new Will following your separation.
Our Central Coast family lawyers can advise you on what constitutes a valid Will and what should be covered by your Will. We can also assist you in preparing or updating your Will.
Power of Attorney
A Power of Attorney is a legal document appointing a person of your choice to manage your financial and legal affairs in accordance with your instructions. This may include buying and selling real estate, shares and other assets, operating your bank account and spending money on your behalf.
You can either appoint a General Power of Attorney or an Enduring Power of Attorney. The appointment of a General Power of Attorney ceases once you lose mental capacity due to illness or injury. Whereas an Enduring Power of Attorney continues even after you lose the mental capacity to manage your own affairs.
The Power of Attorney can either come into effect immediately or at some future point in time depending on your wishes, but it is important to remember, the appointment only operates while you are still alive.
An Enduring Guardian is someone you appoint to make health and lifestyle decisions for you, including where you will live, the services you need, and what medical or dental treatment you will receive.
The appointment of an Enduring Guardian operates while you are alive and comes into effect once you lack the capacity to make decisions.
If you want to appoint a Power of Attorney or an Enduring Guardian, we can assist you in completing the legal form of appointment.
At East Coast Family Lawyers, we offer cost efficient packages which include the preparation of your Will, Power of Attorney and Enduring Guardian.