A valid Will is the only way to ensure that your property will be distributed according to your wishes. A Will reduces the risk of disputes about what should be done with your property and also reduces the costs that can be associated with disputes.
POWER OF ATTORNEY
A Power of Attorney gives another person authority to deal with your finances. A Power of Attorney can operate immediately or only when you no longer have mental capacity to make financial decisions yourself.
If you are going on a long overseas holiday you may wish to give someone close to you power of attorney to attend to your financial affairs while you are away. If you are immobile and have difficulty getting out to the bank or to pay bills you may want to give someone an immediate power of attorney so that they can do that for you. Or you may decide that you only want someone to have that power when you can no longer make decisions for yourself.
It is important that you make a power of attorney early as you must be able to make legal and financial decisions at the time of giving another person that power. A person who does not have mental capacity cannot make a power of attorney.
ADVANCE CARE DIRECTIVES
- At some stage during your lifetime there may come a time when you are unable to make a decision about your care and personal affairs. If this occurs an Advance Care Directive provides guidance for others to make decisions on your behalf in accordance with your wishes. An Advance Care Directive will not only provide assistance to others who are charged with the role of making decisions on your behalf, but will also protect your interests.
- An Advanced Care Directive can be used in circumstances where you have suffered a serious illness, been involved in an accident or where dementia or mental health issues can render you unable to make decisions on your own.
- The Advance Care Directive replaces what used to be known as an enduring power of guardianship and medical power of attorney.
- At KCLawyers we can provide you with assistance in preparation of your Advance Care Directive to ensure that your wishes in relation to future health care, personal arrangements for you and your pets, living arrangements and religious beliefs are properly recorded within the Advance Care Directive.
Contact Kathleen Chambers to find out more or to arrange an appointment to discuss your estate.