Wills, Powers of Attorney and Guardianship are phrases you hear when people talk about Estate Planning. They are talking about making preparations on what they want to happen to themselves and their property in the event that they fall ill or die.
Such preparations can seem morbid, but by making these preparations you can ensure that your family and friends are looked after, if something does happen to you as well as ensuring that your family and friends have the information to follow out your wishes.
There are a number of legal documents that are used in Estate Planning including Wills, Powers of Attorney and Guardianship. Each of these legal documents play an important part in ensuring that, your wishes are carried out in the event that you die, or are unable to act for yourself.
Graeme Heckenberg, is an expert at Estate Planning and has advised numerous clients on the best way to use legal documents to meet their individual circumstances. An explanation on some of these most common legal documents used by Graeme on behalf of his clients is set out below:
Powers of Attorney : A Power of Attorney is a legal document used to appoint a person to temporarily or permanently make decisions about your property and other financial matters.
A permanent Power of Attorney can be put in place to be used in the event that you are not well enough to make such decisions such as those people suffering from dementia.
A temporary Power of Attorney can be used to appoint someone to act for you on the sale of property or other financial transactions if you are going to be unavailable at that time.
Powers of Attorney are only valid while you are alive and are a useful tool to allow someone to make financial decisions for you in the event that you are unable to make those decisions.
Guardianship – A Guardianship is similar to a Power of Attorney but instead of allowing someone to deal with your property and financial affairs a Guardianship allows them to make decisions about your health and day to day care in the event that you are unable to make those decisions.
This can include medical treatment, accommodation and any other decision to do with your health and day to day care.
Wills – Powers of Attorney and Guardianships are only useful while you are alive. To ensure that your wishes are carried out after your death you need to have a valid Will. In your Will you appoint an Executor who will be in charge of making sure that your beneficiaries receive the inheritance you have left for them in your Will.
Graeme Heckenberg is an expert Wills & Estates lawyer and will be able to guide and advise you on Estate Planning and Powers of Attorney, Guardianship and Wills. If you are living on the Northern Beaches and surrounding Peninsula and need expert advice call The Northern Beaches Lawyer today for an appointment close to home.
Call today for an appointment on 9221 0341.
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