The 3 parts of “Estate Planning”

Estate planning can be difficult and confronting, however understanding what it is about will make a big difference and get you moving to get things in order…

What is estate planning and what documents are involved?
It is documentation, in written form, you put in place to speak on your behalf when you cannot physically speak for yourself.

Enduring Power of Attorney
1. “I’m alive… but I can’t speak for myself anymore…”
Whatever the reason may be…
· Incapacity
· Health related reasons
· Absence due to a long overseas trip or vacation to a remote destination
· Needing to be at two different places at the same time

In these circumstances you will need an Enduring Power of Attorney document in which you as the Principal appoint one or more Attorneys to make decisions for you or simply act for you. In terms of the Enduring Power of Attorney the Attorney can sign contracts for you, make payments on your behalf, make enquiries on your behalf at institutions such as Centrelink, Medicare, Banks, care facilities etc.

Advance Health Directive
2. “I’m alive… I can’t speak for myself… but I have specific ideas or requirements as to what kind of health care or treatment I want…”

You need to complete an Advance Health Directive while you still have the mental capacity and physical ability to do so.

In this document you stipulate what kind of medical treatment you wish to receive and perhaps more importantly so… what kind of medical treatment you don’t want to receive.

Yes… your Attorney in terms of the Enduring Power of Attorney document will have the ability and right to make those type of decisions for you, but why not make it easier for your Attorneys by indicating in your Advance Health Directive what you want and what you don’t want and avoid burdening your Attorney with the complicated and intricate emotional baggage to make serious life decisions for you when you could have taken control about those things while you still had the capacity to do so.

Will
3. You’ve passed on… you needed a Will.

You can only make a Will during your lifetime… and while you have the mental capacity to do so and the physical ability as well.
It may be an emotional process you have start but it is an important one to start.

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About Baldwins Lawyers

Baldwins Lawyers provides conveyancing services and assists with family law, estate planning and probate matters across Queensland, including Gympie, Sunshine Coast, Brisbane, Gold Coast and also across New South Wales. Gympie based Solicitors – Our aim is to provide quality legal services and quality conveyancing services at fair and realistic prices.