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Versace McKenzie offers a fixed fee for a standard Will *, Power of Attorney & Enduring Guardian.
A Will is a legal document which formally declares how your assets and possessions are to be distributed at the time of your death. Your assets include any property that you may own, motor vehicles, insurance policies, money in bank accounts, jewellery, furniture ect.
Generally, lump sum superannuation benefits are not dealt with by a Will but rather a binding nomination with your nominated fund. Property held in joint tenancy is also considered separately from your will.
In general, a valid Will must be:
In short, yes you can. However, it is not advisable that you use a ‘’do it yourself’’ kit as there is a greater risk of mistakes and incorrect drafting which may mean certain gifts fail. As you may expect any mistakes may cause your family additional expense, stress, delay and may end up in court to rectify. To some people, a Will maybe one of the most important documents you are likely to sign so professional advice is important to ensure you have a valid will that correctly reflects your intentions.
The Executor is responsible for making sure your wishes are carried out in accordance with your will and may have to apply to court for a grant of probate in order to distribute your assets to the named beneficiaries. As such the executor should be someone you trust to deal with your property. If you wish you may appoint more than one Executor.
Yes you can alter your Will at any time. If the alterations are minor you can make a Codicil to your Will. You should not simply cross out any provisions. If the amendments are substantial you should consider making a new Will.
If you marry after you have made your Will it will be automatically revoked unless it is made in contemplation of marriage. Similarly if you divorce, a gift or appointment as executor of your former spouse is revoked.
A Power of Attorney (POA) is a document appointing a person ( called an ‘’attorney’’) to act on behalf of another person, who grants the power (called ‘’the principal’’) during the principal’s lifetime.
A POA enables the appointed attorney to make financial decisions on your behalf.
A general (or ordinary) POA will terminate if the principal loses mental capacity. This is generally useful for a short term appointment, for example, if the principal is travelling overseas.
An Enduring Power of Attorney is required if the attorneys power is to continue continues if you lose mental capacity.
Our lawyers can advise on the appropriate power of attorney required and the relevant requirements.
Appointing an Enduring Guardian differs from an Enduring Power of Attorney. An Enduring Power of Attorney is concerned with financial affairs in the event of loss of mental capacity whereas an Enduring Guardian (or Medical attorney) is appointed to deal with matters such as lifestyle, living arrangements and consenting to or refusing medical treatment.
If you wish to limit the scope of appointment to the making of medical decisions only you may prepare an ‘advance directive’ which is a document that sets out your wishes about future medical treatment.
If you need to write a will, grant a Power of Attorney, or appoint an Enduring Guardian, it's important that you get legal advice. Versace McKenzie have the experience you need - and With our fixed fee arrangement, you don't have to worry about your legal costs spiralling out of control.
Call Versace McKenzie Lawyers today on 02 9251 3150, 02 4934 9966 or fill out our Online Enquiry Form.
9-13 Young Street,
Sydney NSW 2000
Unit 3, 12 Ken Tubman Drive
Maitland NSW 2320
Level 6, 10 Help Street
Chatswood NSW 2067
Suite 3.11 Platinum
4 Ilya Avenue
Erina NSW 2250
671-677 Hunter Street
Newcastle NSW 2300
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