Wills and EPAs
Ensuring that your Will reflects your desire for what is to happen to your children and your property upon your death is very important. Many events in your life can lead to a need to update your Will, including marriage, separation, divorce, change in financial circumstances or the birth of a child. If you do not have a Will or if your Will needs to be updated, please contact us to make an appointment for the preparation of a new Will.
Enduring Powers of Attorney
An Enduring Power of Attorney allows you to give your Attorney the power to make financial decisions and also personal and/or health decisions on your behalf in the event that you lose the capacity to make those decisions for yourself. You can nominate one or more Attorneys and specify when their power will begin. You can give your Attorney/s the authority to make any decision that you could legally make yourself or limit the Attorney/s powers to terms set by you. If you require an appointment for the preparation of an Enduring Power of Attorney, please contact us.
We charge $385.00 inclusive of GST for the preparation of a non-complex Will. The fee for an Enduring Power of Attorney is also $385.00 inclusive of GST.
Do I really need a Will?
Read on to find the answers to some common myths about estate planning.
- My former partner will not receive anything under my Will because we are separated.
It is important to update your Will following a separation to ensure that your Will still reflects your desire for what is to happen to your children and/or your property upon your death.
If you fail to change your Will when you separate, your separation will have no effect on the contents of your Will. If you have left everything to your spouse, he or she will still be entitled to that property upon your death. It is, therefore, important to revise your Will when separating from your spouse or partner.
- My current Will is still valid if I get married or divorced.
A Will is revoked by the marriage of the testator, meaning that if you have married (or remarried), any former Will that you have made has no legal effect. It is, therefore, necessary to have a new Will drafted to ensure that your family members and friends are properly catered for in the way you intend, should you predecease them.
When a couple divorces, any dispositions made to a former husband or wife or their appointment as an executor or guardian is taken to be revoked and will not be put into effect. This means that even if you have not updated your Will after separation, you should do so after your divorce.
- I’m young and don’t have any assets or kids so I don’t need a Will.
At the very least, you are likely to have superannuation. In fact, it is common that the largest asset of a deceased’s estate is superannuation. It is also becoming more common for individuals, particularly young people, to die without leaving a valid Will.
When someone dies without leaving a valid Will, they are said to have died “intestate” and their assets are distributed pursuant to the rules set out in the Succession Act. Therefore, to ensure that your assets are distributed in the way you intend, you should have a Will drafted early and update it regularly as your circumstances change.
- I don’t need a new Will because I already made one years ago.
As personal and financial circumstances change, we recommend updating your Will every five years.
How do I get a Will and/or EPA?
Follow these 3 simple steps:-
- Complete this form and email it to firstname.lastname@example.org;
- We will contact you to confirm an appointment and provide you with our Trust Account details;
- Payment can be made by credit card, direct deposit, eftpos or cheque prior to your appointment.
Please contact us if you have any questions.
We also assist the persons who have been appointed as the executors of a Will to administer the testator’s estate.
Please contact us if you have any questions or would like to make an appointment.