Estate Planning (Trusts)
Estate planning can be complex and the unintended consequences of a poorly drafted will can cause immeasurable stress to those left behind.
A will provides clear instruction about how you wish your hard earned money to be distributed in the event of your death.
Our experienced wills and estate lawyers can assist you to create an estate plan that protects your family as well as putting measures in place to protect your interests should you become ill or unable to make decisions for yourself in the future. These may include an Enduring Power of Attorney, an Enduring Guardian and an Advance Health Directive.
While a will is the cornerstone of your estate plan, there are assets that may not be covered by your will such as superannuation, business interests, life insurance and trusts. Lloyd & Lloyd Solicitors can advise you of the measures available to you to deal with these assets in the event of your death.
What is an Enduring Power of Attorney?
An Enduring Power of Attorney is a legal document that allows another person to make legal and financial decisions on your behalf. Unlike a General Power of Attorney, it remains in force if you should become unable to make these decisions for yourself, i.e. if you lose capacity.
What is an Enduring Guardian?
An enduring guardianship appointment allows a person you trust (and who agrees to the role) to make medical and lifestyle decisions on your behalf if you lose capacity. You need to inform the appointed person about your medical and lifestyle decisions and wishes - and update them if you change your mind. An Enduring Guardian document does not empower anyone to make financial decisions on your behalf if you lose capacity. If that is what you require, you need an Enduring Power of Attorney.
What is an Advance Care Directive?
An Advance Care Directive, sometimes called a living will, allows you to provide instruction regarding your future health care including end of life stage medical decisions and comes into effect if you are ever unable to make decisions for yourself.