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WILLS
Wills, Power of Attorney and Enduring Guardianship
What are these documents and why do I need them?
Your Will
Your Will is the document that determines arrangements after you have passed away. This document can say who you would like to take custody of your children, to whom your assets are to belong and where your money is to go. Wills can be very specific and particular, or general and long-lasting.
In your Will you will nominate one or more trusted people, or your solicitor as your Executor. Your Executor is the person you trust to distribute your estate and ensure all of your wishes are taken care of. It is very common to nominate a long term partner or close loved one for this role. You will also nominate the beneficiaries of your Will, these are the people who will receive your Estate in the form of money or possessions in amounts or descriptions as you state in your Will.
Enduring Power of Attorney
An enduring power of attorney is a legal document that allows you (the principal) to nominate one or more persons (referred to as attorneys) to act on your behalf. An enduring power of attorney gives the attorney the authority to manage your legal and financial affairs, including buying and selling real estate, shares and other assets, operating your bank accounts and spending money on your behalf.
This means that in the event you go overseas, are hospitalised, your mental health becomes unstable, or you are otherwise unable to manage your own legal and financial affairs a person/s of your choosing may continue to manage and maintain your assets and affairs.
Appointment of Enduring Guardian
Appointing an Enduring Guardian is not the same as making an Enduring Power of Attorney. An Enduring Power of Attorney refers to the management of a person’s financial and legal affairs whereas an Enduring Power of Guardianship refers to making personal and lifestyle decisions for that person.
Your appointed enduring Guardian can make many decisions for you, including which doctor should treat you; what kind of treatment, surgery or medication you should have; whether you should see a dentist and what kind of treatment should be carried out; consent for you to enter a group home, hostel or nursing home; and the people who can associate with you and who are able to visit you.
Estimated Costs
Single Person
Will - $341.00 (inc GST)
Enduring Power of Attorney - $176.00 (inc GST)
Appointment of Enduring Guardian - $176.00 (inc GST)
Couple
Will - $572.00 (inc GST)
Enduring power of Attorney - $308.00 (inc GST)
Appointment of Enduring Guardian - $308.00 (inc GST)
