Legal Services, Legal Advice, Attorney
Preparing a legal Will by instructing your wishes to a Solicitor is the best way to ensure that once you pass away your family members are properly provided for and reducing the likelihood of the estates disputes from occurring.
Will is a legal document and your executor named in the Will, will ensure that your assets are distributed according to your wishes once you die.
What will happen if you don’t make a Will?
If you die without making a Will, then your assets will be distributed in accordance with the laws of intestacy.
Enduring Power of Attorney:
Most of us may have an up-to-date Will but how many of us have thought about who will manage our affairs if we become incapacitated?
A Power of Attorney is a legal document that allows you to appoint a person or persons as your Attorney to make decision about your property or financial affairs.
How does an Enduring Power of Attorney differ from a general Power of Attorney?
A general Power of Attorney ceases to have effect after you lose the mental capacity to make financial decisions. Whereas an Enduring Power of Attorney will continue to have effect whatever your mental capacity.
Why make an Enduring Power of Attorney?
By making an Enduring Power of Attorney, you are choosing who you want to manage your financial affairs, even if you lose mental capacity.
If you lose mental capacity, without an Enduring Power of Attorney in place, then there may be no one with legal authority to manage your financial affairs. Your family or advisers would then need to apply to the Government to have someone appointed for you.
When a person dies, everything they owned at the date of their death forms part of their estate. If there is a valid Will the executor has a legal responsibility to administer the estate assets in accordance to the deceased’s wishes.
In doing so, the executor may require independent legal advice from a Solicitor to assist them with the administration of the deceased’s estate.
For more information visit our website: http://www.deenlawyers.com.au/
Or give our friendly team a call on: (07) 3059 2352
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Loganlea, QLD, 4131,Australia
Main: (07) 3059 2352Fax: (07) 3200 8934
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