Dooley Blog
Latest Legal Articles from Dooleys Lawyers and Solicitors.
The Will continued...A Will is an important document but why?
Estate Planning - Introduction to Series - Part 1
Estate planning is not just for the elderly. It is something we all need to do. In this blog series we will explain the importance of effective and well considered estate planning and the many options available to you beyond the common ‘simple Will’.
We will focus on the main elements that you should consider when thinking about the different options available when planning your estate’s needs. Why you ask? We will explain shortly but to start with:
Question: Read More-->
Nobody plans to have Dementia
Estate Planning has become somewhat of a taboo topic in today’s society. No one wants to talk about what happens when you are no longer able to make decisions or unfortunately, it is discussed when it's too late to be able to make a choice. A recent article published in the Sydney Morning Herald on 29 March 2012 reported that dementia rates are set to soar and as such that it is imperative that more Australians plan as to what is to happen when they can no longer manage their health care, end-of-life care, or financial affairs. Read More-->
On the Fifth Day of Christmas my partner said to me - still no wills and oops - it's nearly January!
Estate Planning - Questions & Answers
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Question |
Why is it important for me to have a Will?
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Answer |
A Will is legal document designed to ensure that your wishes are met after you die. Such wishes include the distribution of assets, the guardianship of any minor children and details as to why you may have specifically left somebody out of your Will. You arrange to have a fresh Will drafted when any of your family circumstances change, such as marriage or divorce, or the birth of any children.
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Question |
How do I amend my Will after I have signed it?
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Answer |
To amend a Will you can either instruct your Solicitor to prepare a “codicil” (document which relates to your Will ), which will be attached to your existing Will listing the changes made to the Will, or you can instruct your Solicitor to prepare a new Will. Depending on the amount of amendments required to be made to your Will, it is often best to draft a new Will to ensure clarification of your wishes.
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Question |
What is Power of Attorney?
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Answer |
A Power of Attorney is a formal appointment regarding a person’s financial affairs whereby one person (called the Principal) gives to another person (called the Attorney) the right and authority to act on their behalf. The power given can be a power granted without limitation or a specific power and can be drafted to fulfil the Principal’s objectives.
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What is an Enduring Guardian?
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An Enduring Guardian is a document that appoints a guardian who can make medical decisions on your behalf when you are unable to make those decisions for yourself due to your state of mind or physical inability. For instance, being in a coma. |
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Question |
What is an Advanced Health Care Directive (“Living Will”)?
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An Advanced Health Care Directive (“Living Will”) contains information about the medical treatment you wish to receive if you are incapacitated. A Living Will significantly reduces the burden on family and friends, particularly in relation to making decisions about the medical care of your physical and mental health. A guardian appointed under a Living Will can make decisions on your behalf which would otherwise be made by medical specialists or the court system, often at the expense and at considerable stress to your family and friends. |
| Please feel free to make an enquiry should you have any queries in relation to your estate planning needs. For all of our Question & Answer series, click here. |
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