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Making a Will: Planning now for peace of mind later

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With Stacey McAllan from Stacey McAllan Legal

Life’s certainties – death and taxes! There is never a convenient time for either of them. The thought of preparing a Will can be emotional and uncomfortable.

It is why making a Will is often put on the backburner for a later date, for when we are older, have more assets or when kids come along.

The truth is, we don’t know when we will need it, so the time is now and it is one of the simplest things you can do to protect your interests for the future, and it is nothing to be nervous about. 

WHEN SHOULD I MAKE A WILL? 

Now. Death isn’t reserved for the old and the ill, so it’s best to be prepared.  

CAN SOMEONE MAKE A CLAIM ON MY ESTATE EVEN IF I HAVE A WILL? 

Yes. an “eligible persons” (family members) may have the legal right to make a claim on your estate. When you sit down with your lawyer to draft your Will, it’s important to discuss who can make a claim on your estate and the process involved. Remember, the Will is your last record of your wishes and it is imperative that your Will is drafted with any potential family provision claim in mind. 

THE THREE AMIGOS OF ESTATE PLANNING 

In addition to your Will, you should also consider preparing an Enduring Power of Attorney and Enduring Guardian. Your Power of Attorney is a legal document that appoints someone to manage your legal and financial affairs should you not have capacity to do so yourself. Likewise, your Enduring Guardian nominates who you have authorised to make your health care and lifestyle choices. You can also outline your preference for burial or cremation.

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Stacey McAllan Legal. Photo: Wander + Collect

Investing in good estate planning is a simple way to give yourself peace of mind and provide clear direction for those you love after you’re gone. You’ve worked hard for what you have and preparing a Will makes sure it’s protected and distributed exactly how you would like it to.  

Ready to get your Estate documents in order?  

Contact us at [email protected] or phone 6742 2122. 

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