What is a Will?
A Will is a legal document that sets out your wishes for the distribution of your assets after you pass away. In a Will, you can specify who will be responsible for making sure that your wishes are followed, and where and to whom your assets will be distributed to.
Although deciding how you will distribute your assets after you pass away can be uncomfortable it is important that you make a Will so your assets are distributed in accordance with your wishes. If you pass away without a will, your estate may be distributed according to the rules of intestacy, which may not reflect your intentions, even if they are known.
Another important aspect to consider when making a Will is who will be appointed as your executor. This person will administer the assets of your estate in accordance with the Will. If you have children under the age of 18, consideration must also be given regarding the appropriate person to appoint as guardian.
Powers of Attorney
There are two main types:
- Enduring Power of Attorney
- Medical Power of Attorney
Enduring powers allow the nominated person to conduct your financial affairs, enter contracts and manage general affairs should you lose the capacity to make your own decisions. They can be limited to certain functions.
If you're in need of Conveyancing services please feel free to contact Rex for a free consultation to see if he can meet your requirements. Rex is contactable via landline on (03) 9596 0627 or mobile 0425 206 207.