Christmas is just around the corner and is a time when many start to unwind and look forward to a well-deserved holiday. In the meantime, there is most likely an extensive to-do list to get through before you are able to activate your ‘Out of Office’… Have you remembered to add your Will to the list?
Pre-holiday, and in this case pre-Christmas, proves to be a popular time for people to prepare their Wills and other Estate planning documents with a Lawyer. This is most likely because doing so can help you feel like you’ve earned the right to relax during your trip and it can certainly help in case of emergency.
Don’t yet have a Will?
If you don’t yet have a Will, don’t panic. You can start the process by speaking with one of our Lawyer’s. You will need to consider 3 things:
- Decide who you want to leave your assets to (your beneficiaries) and in what amounts. Consider any special bequests of personal items such as jewelry or collectibles.
- Choose who you want to be responsible for managing your Estate (your Executor).
- If you have minor children, who do you trust to be their guardian?
To make it valid, be sure your Will is signed and witnessed according to the correct laws.
I already have a Will, so can I travel stress free?
If you already have a Will but have not reviewed it in a while, have a read through it to confirm that it’s current. If there have been any changes to your family, such as the arrival of new children or grandchildren or a change to your marital status, it will require an update to reflect this and you can do so by contacting your lawyer.
Once your Will has been addressed, it is also important that you get your other Estate Planning documents in order as well, including:
- Power of Attorney – this appoints someone to take care of your financial decision making
- Enduring Power of Guardianship – this appoints someone to make medical and lifestyle decisions for you during any periods of incapacity
- Advanced Health Directive / Living will – this is where you make medical decisions in advance
Businesses and trusts often do not form part of your estate and we can also assist with documenting other arrangements for the succession planning of the same as and when required.
At D’Angelo Legal, our team of Wills and Estates Lawyers will provide advice on what does and does not form part of your estate and ensure your Will and other estate planning documents are structured in a way to give effect to your wishes.
If you require assistance with your Estate planning, Start the Conversation by contacting our experienced lawyers through our website or by calling (08) 9381 1147.