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Estate Planning
What makes up your Estate?
Your "estate" is everything you own—all your property and property rights, even assets with loans against them. They don't die when you do. They have to move into the ownership of a living beneficiary, because a decedent can't own property.
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Writing a Will
What is a Will?
A Will is a legal document that gives instruction for the distribution of your assets after you’re gone. It allows you to specify who you want to benefit from your estate (your beneficiaries) and who will be responsible for the administration of your estate (your executor).
It also allows you to record specific wishes around your funeral or the guardianship of your children or dependants.
It also allows you to record specific wishes around your funeral or the guardianship of your children or dependants.
Need update?
A Will should be updated regularly to any major life changes, such as marriage or separation, having children and grandchildren or the purchase or sale of major assets, into account.
If your Will isn’t kept up-to-date, it might not be valid. A valid and current Will allows you to retain control over what happens to your assets on your death. If you die without a Will, your property and belongings will be distributed according to the requirements of the Administration Act 1969. In other words, if you don’t have a Will, the law decides ‘who gets what’ out of your estate, regardless of the needs of those close to you, or what you may have wanted.
If your Will isn’t kept up-to-date, it might not be valid. A valid and current Will allows you to retain control over what happens to your assets on your death. If you die without a Will, your property and belongings will be distributed according to the requirements of the Administration Act 1969. In other words, if you don’t have a Will, the law decides ‘who gets what’ out of your estate, regardless of the needs of those close to you, or what you may have wanted.
Who needs a Will?
Everyone over the age of 18 should make a Will. It’s the safest way to ensure your assets are distributed according to your wishes.
How do we help?
You've heard the old saying "Where there's a will, there's a way" ? Well, that's a lot truers than you may think. And to help get you started we got together with the freindly team at Footprint and have arranged to cover the cost of your online Will if you take out your personal insurance with us.
To learn more about the online Will service here
To learn more about the online Will service here
POWERS TO MAKE DECISIONS FOR OTHERS
What is an EPA?
An Enduring Power of Attorney (EPA) is a legal document appointing an attorney to act on your behalf if you cannot or do not wish to. Unlike a Will, an EPA operates while you are alive.
Setting up an EPA will give you peace of mind that your assets and personal welfare will be properly managed on a temporary or permanent basis by someone you trust, if you become unable to do so.
There are two types of EPAs: one for property, and the other personal care and welfare.
A property EPA allows you to appoint someone to manage your financial affairs. A personal care and welfare allows you to appoint someone to make decision about your personal health and well-being in the event you are unable to make these decisions for yourself.
Everyone over 18 years of age should sign an Enduring Power of Attorney.
Setting up an EPA will give you peace of mind that your assets and personal welfare will be properly managed on a temporary or permanent basis by someone you trust, if you become unable to do so.
There are two types of EPAs: one for property, and the other personal care and welfare.
A property EPA allows you to appoint someone to manage your financial affairs. A personal care and welfare allows you to appoint someone to make decision about your personal health and well-being in the event you are unable to make these decisions for yourself.
Everyone over 18 years of age should sign an Enduring Power of Attorney.
How do EPAs work?
If you don’t have an EPA and an important decision must be made or document signed, your family or friends must apply to the Family Court (under the Protection of Personal and Property Rights Act 1988) so they can help you and legally manage your affairs. This can be costly and time-consuming and the Court may appoint someone that you would not choose.
That’s why the best time to provide for maximum and ongoing control over your assets and welfare is now. Many people prepare an EPA when they complete or review their Will.
That’s why the best time to provide for maximum and ongoing control over your assets and welfare is now. Many people prepare an EPA when they complete or review their Will.