Times are tough – emotions are running high – is there an end to all of this?

You need to make plans for the future and particularly the making of a Will and Enduring Power of Attorney to meet your current circumstances.

You might just be tempted to prepare your own Will and EPA without the assistance of a lawyer. You’ve heard that the process is ‘straightforward’ and even ‘simple’. Don’t be fooled – preparing these documents yourself is fraught with danger. Homemade will kits may not be valid and legally enforceable when the time comes.

We know for experience that discussing what you want to happen on your passing or in the event of incapacity can be an overwhelming and unpleasant experience. This is especially the case if you have the added stress of dealing with a relationship breakdown.

You might have decided that all of this can wait and that it is an unnecessary task for your immediate future.

Remember, divorce has the ability to revoke an existing Will and Power of Attorney, so it is crucial to obtain proper legal advice early and ensure that your estate planning documents accurately reflect your current circumstances.

You may need to update your estate planning documents as soon as possible after separation and then again once your divorce and/or property settlement has been finalised.

Real property held as ‘Joint Tenants’ will also need to be considered.  If you are uncertain as to what this means then don’t wait – call your lawyer now.  Not severing the joint tenancy could have dramatic costs impacts on your estate should the worst happen.

If your Will is found to be invalid by a court then your estate could be dealt with under what is called ‘the rules of intestacy’.  Put another way, the people you wish to benefit from your estate might well not do so.

In addition, if you lose your capacity and you don’t have an Enduring Power of Attorney in place, then it could well be left to your loved ones to make applications to the Guardianship Tribunal for someone to act as your attorney or a government agency [the Public Trustee the Adult Guardian].

These concerns can be easily removed by:

• Reviewing your current Will and Power of Attorney (if you have one) to make sure that they are still relevant to your current circumstances; and
• Calling your lawyer to arrange for the updating of your important Estate documents.

Don Gayler [Gayler Legal – 4124 7100] and Lesley Powell [Milburns Law – 4125 6333] are senior and experienced lawyers.  They know what you need to do in the circumstances set out above. They’ve been settling Estate documents for many years now so they’ll know just what to do.