When it comes to drafting up a will, it’s better to plan ahead rather than leave it to the very last minute until it is too late. Mapping out your will early will prevent distress from your lawyers and loved ones going through a tug of war on who should take ownership of what.
At Gryphon Lawyers, we are able to prepare all the required legal documents and estate administration to ensure your estates, wills, and affairs are looked after when required.
Do I need a will?
The short answer is YES.
To avoid confusion and possible misunderstandings between loved ones in the event of your passing, whether unexpected or not, it is vital to have a will that sets out how your estate, no matter how large or small, should be divided among your loved ones, friends, or favourite charities and organisations. When preparing your will, our esteemed lawyers can also prepare Enduring Power of Attorney and Enduring Guardianship to make sure you are looked after in all situations.
For these reasons, it’s highly pivotal to have the care of a legal practice that will make sure your assets will be handed to the appropriate beneficiaries.
In the following article, we’ll help you learn more about the enduring power of attorney and enduring guardian documentation for your estate and wills.
Read our wills and estate page to learn more about how the whole process works.
What is an Enduring Power of Attorney?
An Enduring Power of Attorney is a relevant legal document that goes hand in hand with estate planning wills but are often overlooked until it is too late. In short, a will sets out the distribution of the estate when you pass away. It does not set out who makes decisions for you while you are alive. If you are incapacitated, an enduring guardian or enduring power of attorney can make decisions on your behalf.
An Enduring Power of Attorney gives a person(s) the legal authority to watch over your financial affairs on your behalf, should you no longer be able to do so even after you lose mental capacity. You may want an attorney to act on your behalf for a number of reasons, for example, if you take an extended overseas trip, or simply if you are physically or mentally unable to do it yourself. Your enduring attorney will be able to manage your finances on your behalf.
Failure to appoint an Enduring Power of Attorney may result in The Guardianship Tribunal or Supreme Court appointing a financial manager, resulting in additional expense and stress for your family and friends.
What is an Enduring Guardian?
An Enduring Guardian is someone you legally appoint to make personal or lifestyle decisions for you when you are not capable of doing this for yourself. This could include where you live, for example, in a nursing home, and what medical treatment you receive. Examples of enduring guardians could be partners, family members, close friends, etc. The enduring guardian must be over 18 years of age and understand the responsibility. They cannot be someone who receives payment for taking care of the person. The enduring guardian should be someone the person trusts, who knows them well and can be relied on to make the best decisions on their behalf.
Hire Estate Planning Lawyers That’ll Take Care of Your Assets
At Gryphon Lawyers, we provide expert legal advice to help you organise all relevant documents regarding your wills and estate. Our estate lawyers are highly qualified, incredibly supportive, and are more than equipped to provide advice for all legal matters.
For all such critical documents that can heavily impact your life and estate, it is important to choose a legal team and beneficiaries you trust and feel capable of carrying out their obligations in good faith.
To ensure that your affairs are properly taken care of and for your own peace of mind, please don’t hesitate to contact us today and let us help you ensure you do not leave a headache for your loved ones.