New Year, New Will
Time to take another look
Every couple of years, or when you experience a change in your life circumstances, it is a good idea to meet with us to check your Will, Power of Attorney and Appointment of Enduring Guardian documents.
We often do not realise that the life changes which have occurred can impact on our important legal documents. We would like to meet with you to check that your legal documents will still work in the way you need them to when the time comes to use them. We will be able to advise you if changes are required and help you keep your affairs in order.
Have you noticed how time gets away and life changes fast?
Whether it be positive changes like marriage, new relationships, birth of children or your children becoming adults and having their own children or negative situations like death, illness, accidents, separation or divorce – life stands still for no person!
Reasons for updating your Will could include:
- The Executor of your Will has become ill and unable to carry out the role.
- Your Executor or Beneficiary has moved overseas or continues to live overseas. Recent changes in law mean that an overseas executor can potentially have negative taxation implications for your estate.
- Appointing one or more of your adult children as your Executors.
- If your children are now adults the removal of any Appointment of Guardian.
- Death of your spouse.
- Separation or divorce from a spouse.
- You have entered into a new relationship.
- You have married and/ or re-married.
- Your new partner or spouse has children from a previous marriage or partnership.
- A Beneficiary of your Will may have predeceased you.
- You have set up a Company or Trust.
- You have set up a Superannuation Fund.
- You have gathered different assets [or liabilities] in your name or joint names with another person or entity.
Your Power of Attorney and Appointment of Enduring Guardian
Reason for updating or preparing your Power of Attorney and/or Appointment of Enduring Guardian could include:
- You have been diagnosed with an illness.
- You have booked an overseas trip.
- You have decided to downsize your home or enter into a residential facility.
If you have recently met with your accountant or financial advisor, they may have asked you whether you have all of your legal documents in place. It is a good reminder to review and update if required.
Reviewing and planning for after your death or in the event of an accident or illness may not be fun to think about but please take this opportunity to let our caring team help you review, update or organise your affairs.
Give yourself, your family and friends peace of mind and protection by having professional and trusted legal advice on some of the most important aspects of your life.