You should ensure that you have up-to-date estate planning documents in place (Will, Enduring Power of Attorney and Advance Health Directive) to ensure that your personal wishes regarding your care and your wishes regarding your assets are upheld. It is important to ensure your documents are valid, up to date and that the originals can be found when they are required.
Your Will deals with your assets after you pass away and should specify who you wish to appoint as executor/s of your estate. They have the important role of paying any debts of the estate, collecting in the assets of the estate, and then distributing the net proceeds in accordance with your Will. We can assist your executor/s by providing legal advice and making an application for a Grant of Probate or Letters of Administration is required.
Enduring Power of Attorney & Advance Health Directive:
Your Enduring Power of Attorney (EPOA) and Advance Health Directive (AHD) apply whilst you are still alive, but where you have lost the capacity to made decisions for yourself. Your EPOA allows you to specify a person or people to decisions about personal and/or financial matters on your behalf, such as paying bills for you. Your AHD allows you to specify your wishes in relation to your medical care, such as whether you want to be resuscitated in different scenarios.
Cornerstone Law Offices Estate Planning process:
Our estate planning process involves an initial appointment to run through details of your family, assets, who you want to appoint as your executor/s, and gifts you wish to leave. We will then draft your Will and email it to you to review. Once you are happy with the document, we will arrange an appointment to sign off your estate planning documents. We offer fixed pricing for our estate planning documents. Our aim is to guide you through this process and answer any questions you may have to make it simple to get your personal affairs in order.
Your Will has not lodged anywhere so it is important to let your executor/s know where your latest original Will is held. EPOAs may need to be registered with the Land Titles if your attorney is buying/selling land on your behalf and a registration fee will apply. You should also let close family members know where your AHD is held in the event they need to provide it to a hospital on your behalf and you may wish to provide a copy to your Doctor. We offer a free service of holding your estate planning documents in safe custody to keep your original documents secure.
There are no set time limits as to when you should update your estate planning documents, however, you should regularly review them and update them whenever they no longer reflect your wishes.
Feel free to reach us on 07 3806 4354 or fill in the form below: