A Will is a legal document that sets out your wishes of how you want your estate to be managed after you die. Making a Will correctly removes the doubts and difficulties that can arise when there is no evidence of your wishes. As well as appointing the person or people you wish to administer your estate, a Will also allows you to direct how you would like your estate to be distributed, to specify your wishes as to guardianship of children and to provide your funeral instructions. There are circumstances, for instance when you get married, that your Will is invalidated, however this is not the case when you divorce, meaning that your ex-spouse may still be receiving the majority of your estate, if this is what your Will says. It is important to always have a current Will that reflects your wishes. In some circumstances, not having a Will can result in a lengthy and costly finalisation of your estate.
Powers of Attorney
A Power of Attorney is a document that gives the person or people whom you appoint, authority to act on your behalf with respect to your financial affairs. There are two types of Powers of Attorney. A general Power of Attorney can be drafted to give someone the authority to make financial decisions on your behalf, for example if you are travelling overseas and need someone to manage your bills, however it is only in affect whilst you have legal capacity. Alternatively, an Enduring Power of Attorney can operate even when you are legally incapacitated, for example you are unable to communicate after a stroke or become senile.
Advanced Care Directives
The Advanced Care Directive document was enacted in 2014 and replaced the Medical Power of Attorney and Power of Guardianship documents. An Advanced Care Directive sets out your values and wishes to guide those you appoint with respect to your future healthcare, medical and lifestyle decisions. Further it sets out whether they are able to refuse certain medical treatment in specified circumstances. It is important to know that an Advanced Care Directive is only used in situations whereby you are not able to provide instructions yourself, for example you are in a persistent vegetative state or are legally incapacitated.
To arrange a time to speak with one of our solicitors with respect to Wills, Powers of Attorney or Advanced Care Directive enquiries, please telephone our offices on (08) 8323 9066.