Things to keep in mind when planning your estate.
As you get older, it is important to begin to plan your estate to both make your life easier, as well as ensuring your loved ones are taken care of when you pass.
In planning your estate, it is important that you consider the following:
- Have you made a will? This is incredibly important to see that your loved ones are compensated appropriately according to you and that your possessions are not just split up between everyone.
- Have you designated a power of attorney or enduring power of attorney to assist you? It is vital that you designate someone to look after all your financial, medical and legal matters if you are unable to do so. This is especially important if you suffer from a mental illness.
- Have you appointed yourself an executor? This is a person who will carry out the directions you have maid in your will. He/She will also be in charge of disbursing any properties or offering will for probate.
- If you are caring for young children, have you taken care of their guardianship (i.e. who will look after them when you no longer can)? This goes without saying. If you are acting as a guardian for minors (whether children, grandchildren, foster children, etc.), it is vital that you make sure rightful guardianship is appointed to one who you believe to be most trustworthy.
If you require any assistance regarding planning your estate or would like to speak this over with a trusted estates lawyer, feel free to email our estates team on email@example.com or call 1300 HATZIS (1300 428 947).