Estate Planning & Wills

Having a Will ensures that your assets are distributed according to your wishes and can prevent potential disputes among family members.

Yes, you can update your Will at any time. It’s important to review and revise your Will regularly to reflect any changes in your circumstances or wishes.

If you die without a Will (intestate), your estate will be distributed according to the laws of intestacy, which may not align with your personal wishes.

Two witnesses over the age of 18 who are not beneficiaries or included in your Will can witness your signature.

While you can write a Will yourself, it’s advisable to consult a lawyer to ensure that your Will is legally valid and accurately reflects your wishes.

A Power of Attorney is a legal document that allows you to appoint someone to make financial and legal decisions on your behalf.

A General Power of Attorney is valid for a specific period or event, while an Enduring Power of Attorney remains effective even if you lose capacity.

You can appoint any trusted individual over the age of 18, typically a family member, friend, or professional.

Your attorney can make financial and legal decisions as specified in the Power of Attorney document, such as managing your assets or selling property.

An Appointment of Enduring Guardian is a legal document that allows you to designate someone to make personal, health, and lifestyle decisions for you if you lose the capacity to do so yourself.

Having an Enduring Guardian means your preferences regarding medical treatment and lifestyle choices are respected, even when you can’t communicate them yourself.

You can appoint any adult you trust—typically a family member or close friend who understands your values and wishes.

You need to complete the appropriate legal forms, and the appointment must be witnessed by an authorised person to be valid.

Yes, you can appoint more than one person to act jointly or alternately, providing flexibility in how your decisions are managed.

An Advanced Health Care Directive is a legal document where you outline your specific health care preferences for situations when you cannot make decisions on your own.

While an Appointment of Enduring Guardian designates someone to make general health and lifestyle decisions on your behalf, an Advanced Health Care Directive provides explicit instructions that must be followed by your guardians and health professionals.

Your Enduring Guardians, treating health professionals, family, and friends are legally required to adhere to the instructions outlined in your directive.

Yes, it’s advisable to consult your regular doctor to discuss your health care preferences and ensure your instructions are clear and medically feasible.

It ensures that your company can continue to operate effectively when directors are unavailable, preventing delays in decision-making and maintaining business continuity.

Any trusted individual who is not an existing officeholder of the company can be appointed, such as a senior employee or an external adviser.

Absolutely. You can specify the scope of authority, limiting it to certain actions or setting time frames during which the Power of Attorney is valid.

Setting up a Company Power of Attorney involves drafting the legal document outlining the powers granted and having it properly executed. It’s advisable to consult with a legal professional to ensure it complies with all legal requirements.

No, the appointed attorney acts within the powers specified and does not override the authority of the directors. They facilitate operations in the absence or unavailability of directors.

A Testamentary Trust Will is a legal document that sets up one or more trusts upon your death. It allows a trustee to manage and distribute your estate to your nominated beneficiaries under the terms you’ve specified.

It provides greater control over the distribution of assets, offers potential tax advantages, and protects assets from external risks such as creditors or relationship breakdowns involving beneficiaries.

Yes, you can set conditions and guidelines on how and when beneficiaries receive distributions, tailoring the trust to meet specific needs or circumstances.

You can appoint a trusted individual, a professional trustee, or a combination of both. The trustee should be someone capable of managing the trust responsibly and in accordance with your wishes.

While it offers significant benefits, it’s most advantageous for individuals with substantial assets, complex family situations, or specific concerns about asset protection. Consulting with a legal professional can help determine if it’s right for your estate planning needs.

Unlike a standard Will, which distributes assets directly to beneficiaries, a Testamentary Trust Will places assets into a trust managed by a trustee, providing ongoing control and protection over how assets are used.

Having a Binding Death Benefit Nomination ensures that your superannuation death benefits are paid to the beneficiaries you have nominated, rather than leaving this decision to the trustee’s discretion.

You can nominate dependants such as your spouse, children, or someone in an interdependent relationship with you, as well as your legal personal representative (the executor of your estate).

If you don’t have a Binding Death Benefit Nomination, the trustee of your superannuation fund will decide how to distribute your death benefits. This may result in your benefits going to individuals you may not have intended.

Yes, in many cases, Binding Death Benefit Nominations expire every three years unless they are non-lapsing. It’s important to check with your superannuation fund and renew your nomination as needed.

You can set up a Binding Death Benefit Nomination by completing the required form provided by your superannuation fund. It typically needs to be signed by you and witnessed by two adults who are not beneficiaries.

Yes, you can update or revoke your nomination at any time by submitting a new nomination form to your superannuation fund.

No, superannuation is considered separately from your Will. A Binding Death Benefit Nomination deals specifically with your superannuation death benefits and ensures they are distributed according to your wishes.