How old should you be to make a Will?
Young people tend to think that they don’t need a Will and some don’t even think to look to the future. In fact many take the view that it is such a long way off, why worry about it now?.
There are good reasons for having an Estate plan even at a young age. If you are married, in a defacto relationship, have children or own any property it is good sense to have an estate plan.
When people have children or buy property and get married, it is an appropriate time to have an experienced Lawyer draft your Will. Although the realisation of your estate may be some time away and hopefully it is, having a legal Will will give you the security of knowing that the interests of yoru family have been protected.
The typical documents included in an Estate plan are –
- A Will;
- An Enduring Power of Attorney;
- An Appointment of Enduring Guardian; and
- An Advance Care Directive.
These documents cover a wide range of possibilities regarding your care if you should lose mental capacity to make your decisions and the administration of your administration of your Estate when you die.
Although many people are awre of the need for a Will to take care of their assets when they die, fewer people are aware of the benefits of Estate planning documents that can be used to allow friends or relatives to manage their financial affairs and make medical and lifestyle decisions for them if they are still living but have lost capacity and to also have a say in their end of life care when the time comes.
Making sure you are prepared by having these doucments in place will empower you regarding your end of life care, will make sure that you do not receive medical treatment that you don’t want and make sure that the people you want to be contacted about your care arrangements will be informed.
Should you wish to find out more information, call Geoff Brazel on 02 4324 7699 for a confidential chat or call Joanne on 02 4324 7699 to reserve your seat at our next Wills & Estates Seminar. All attendees at our Wills & Estates Seminar will receive a voucher for the preparation of a FREE simple Will valued at $390.50.