WILLS

QUESTION: What is a Will?

ANSWER: A Will is a document outlining how a person’s property is to be distributed after his or her death. An executor is appointed to
manage the distribution of the deceased’s property.

QUESTION: Should I make a Will?

ANSWER: It is important for all adults to have a Will but more so if you have property and other assets. By drafting and executing a Will you will
ensure that your property is distributed the way you wish. If you do not have a Will and you have assets, your family will face additional expense
and delay in finalizing your estate.

QUESTION: What happens if I die without a Will?

ANSWER: If a person dies without a Will they are said to have died intestate. The next of kin and or family members will then need to make an application to the Supreme Court of NSW for 'Letters of Administration'. An administrator will be appointed by the Court and the estate distributed according to a legislative formula.

QUESTION: Can I make my own Will?

ANSWER: A person is entitled to write his or her own Will but there are many rules that need to be adhered to in
order for the Will to be valid. For example, you must execute your Will in the presence of two adult witnesses you have
no interest or are not beneficiaries to any part of your Estate and all signatories must use the same pen.
It is important that you seek legal advice. Over the counter Will packages very often do not cater to your specific family dynamic.

QUESTION: Can anyone challenge my Will?

ANSWER: There are only a few categories of people that can make a claim on your estate. The law expects you to make proper provision for your spouse and your children and anyone who was financially dependent upon you during the course of your lifetime. You need to speak to a solicitor if you wish to challenge a Will or you anticipate that a person may attempt to challenge your Will.

QUESTION: What is a Power of Attorney?

ANSWER: A Power of Attorney is a legal document that appoints a person, known as the attorney, to act on behalf of the person appointing them in order for the attorney to take control of that person's financial matters and property. It ceases to be effective if the person loses testamentary capacity. This type of document is often used in business.

QUESTION: What is an Enduring Power of Attorney?

ANSWER: The enduring power of attorney has the same effect as the power of attorney but it remains valid in the event that the person appointing the attorney loses testamentary capacity in that he or she becomes physically and or mentally incapable of making his or her own decisions with regard to finances.

QUESTION: What is an Enduring Guardian document?

ANSWER: An Enduring Guardian document is a legal document that appoints a person, known as the guardian, to act on behalf of the person appointing them and make decisions with regard to his or her welfare, medical treatment, accommodation and the like.

QUESTION: Do I need a lawyer to prepare these documents?

ANSWER: The documents can be prepared without a lawyer but it is always advisable to see a lawyer in order to have these types of documents fully explained to you.

QUESTION: What is an advanced Directive?

ANSWER: An Advanced directive informs your next of kin and your doctors about what medical procedures you authorise or do not authorise in the event that you suffer a terminal illness or fatal accident. The document is not legally binding but it is unlikely that a court would uphold any challenge by family members.

A Will, Enduring Power of Attorney and Enduring Guardian document are probably the most important documents you need to have prepared and also probably the most reasonably priced legal service you can request from a lawyer.