Wills and Power of Attorney
A will is an important document that arranges for the distribution of a person’s assets after their death. Without a will there is no way of knowing or enforcing the wishes of the deceased person. A will ensures a person’s hard-earned assets are passed to their loved ones without any undue stress or hardship, provide for the guardianship of any minor children and express a wish as to funeral arrangements.
If you were to pass away without a will the administration of your estate could be an expensive and time-consuming process, so it is certainly an important document to consider having.
At Adelaide Family Law we have lawyers that are experienced in the preparation of wills, along with other legal areas that may come into consideration when making a will such as parenting issues, separation or divorce, a new spouse or partner with children. We will ensure the drafting process is as simple as possible and work with you to generate a will that best suits your needs.
Power of Attorney
Dementia, alzheimer’s and any number of mental ailments are reason to consider making an Enduring Power of Attorney. An Enduring Power of Attorney appoints one or more persons who will make decisions in relation to your health and or financial needs in the event that you lose mental capacity. It is important to note that an Enduring Power of Attorney requires the principal to have the requisite mental capacity and as such it is important to put in place prior to the onset of any mental health issues.
We can discuss whether an Enduring Power of Attorney is appropriate whilst taking your instructions at your Will appointment.
Adelaide Family Law charges the following rates with regard to the preparation of your will or power of attorney document.
- Single Will – $370.00 (plus GST $37.00)
- Single Will + Enduring Power of Attorney – $470.00 (plus GST $47.00)
- Single Will + Enduring Power of Attorney + Binding Death Nomination – $520.00 (plus GST $52.00)
- Couples Will – $500.00 (plus GST $50.00)
- Couples Will + Enduring Power of Attorney – $650.00 (plus GST $65.00)
- Couples Will + Enduring Power of Attorney + Binding Death Nomination – $750.00 (plus GST $75.00)
- Enduring Power of Attorney – $180.00 (plus GST $18.00)
There are many important considerations to be made when preparing a will, following is a checklist of some things you should think about prior to meeting with a solicitor.
- Who will be your beneficiaries?
- How will your estate be shared among these beneficiaries?
- Do you want to leave part of your estate to a charity?
- Who will you nominate as residuary beneficiary, if the main beneficiaries die?
- Have you made adequate provision in your will for your dependants?
- Who will you appoint as executor(s) for your will?
- Do you want to appoint an alternative executor(s) – usually prudent?
- Do you want to appoint a guardian for your children (also prudent)? Who will this be?
- Do you want to nominate an amount of maintenance for your children?
- Do you want to give other directions, such as where you would like to be buried?
- If you are establishing a trust, have you decided on a suitable trustee(s)?
- Where will you put your will? Have you told anyone, e.g. the executor where it is?
- Do you want to arrange and pay for your funeral in advance?
In some instances, estate planning may be required. For example, do you;
- Have a complex company structure that may require succession planning
- Have an existing family trust
- Have a self-managed superannuation trust
- Have a blended family (depending on the instructions of the parties)
If this is the case we will happily refer you on to an estate planner to assist.
Contact us now to arrange an appointment to prepare your legal will on 08 8113 3111 or email@example.com.