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Your estate – worth building, worth planning for
It’s extraordinary that after a lifetime building wealth, around four out of ten Australians will die intestate – leaving no formal Will. Without proper estate plans in place including a Will, we leave family, friends and even business associates facing significant uncertainty at a time of immense personal grief.
A well-considered estate plan takes a holistic approach. It includes a description of how you would like your wealth – and even health – to be managed while you are alive, and how you would like your estate to be divided when you die.
Making decisions for you
You can appoint someone to make decisions for you if you lose the capacity to make your own decisions.
> An enduring power of attorney – can make financial and legal decisions.
> A medical power of attorney – can make only medical decisions.
Different States have different estate planning rules and different types of powers of attorney. It is important to consult with a suitably qualified and experienced person who is familiar with the laws in your particular State or Territory to ensure that these important documents are valid when they are needed.
Your estate plan
An estate plan addresses matters of personal significance after your death such as who will care for your children or how you intend to make a valuable contribution to the community well into the future.