Your mini-guide to Estate Planning

While many of us do not like the idea of discussing what is to happen in the worst case scenario, it is vital that we consider and attend to having prepared estate planning documents as they provide guidance and clarity when push comes to shove. 

Eleni (Ellen) Overell at OverLaw Legal Services is an approachable person who deals in Estate Planning to ensure that documents are tailor made to your needs. 

Estate Planning documents range from not only a Will, but also can include an Enduring Power of Attorney, Enduring Guardian and Advanced Health Care Directive.

In summary:

Will – A Will only become effective upon your death and dictates who you want to manage your estate (i.e. the executors) and to who you wish for you assets to go to (i.e. beneficiaries). Depending on your needs, trusts and special disability trusts can be created within your will. 

Enduring Guardian – allows you to appoint a guardian to make arrangements for your health which includes making decisions as to where you are to live, what health care you are to receive, what personal services you receive and any medical treatment you receive. It also goes as far as noting that if you are seriously ill and unlikely recover, then not to subject you to medical intervention. 

Enduring Power of Attorney – allows you to appoint an attorney to manage your finances during your lifetime. It can be restricted to your needs such as, not allowing the attorney to sell your principal place of residence or for the document only to work once a medical practitioner advising you need assistance. It should be noted that this document ceased upon your passing, thus allowing your will thereafter to be affective. 

Advanced Health Care Directive – allows you to spell out in great detail what you want to occur at the end of your lifetime. 

Again, please keep in mind that all of these details can be tailor made to what you would like to occur. 

To discuss your estate planning needs, please do not hesitate to contact us on:

Telephone: 02 9605 7113
Email: [email protected]