Services

Wills & Estate Planning

Do you have a Will? Is your Will up to date?

A Will is one of the most important legal documents you will ever sign. It gives your family clear guidance, reduces uncertainty, and helps ensure your wishes can be carried out.

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What is a Will?

A Will is a legal document that sets out how you want your estate distributed when you die. It can also include practical directions such as funeral wishes and other personal preferences.

Why have a Will?

If you die without a valid Will, your estate will be distributed under the intestacy rules in the Succession Act 2006 (NSW). That distribution may not reflect your wishes and may create additional delay, stress, and expense for your family.

Having a clear, properly prepared Will can help:

• appoint the right executor to handle your estate
• provide for your family and other intended beneficiaries
• reduce disputes and uncertainty
• plan for blended families and changing circumstances
• consider how property ownership (including joint tenancy vs tenants in common) affects what passes under your Will

When should you update your Will?

It may be time to review your Will if your circumstances have changed, for example:

• marriage or entering a new relationship
• separation or divorce
• having children or step-children
• purchasing or selling property
• changes to your assets, superannuation, or business interests
• changes in who you want to appoint as executor or guardian for children
• changes in your intended beneficiaries

Enduring Power of Attorney (Financial & Legal)

A Power of Attorney allows you (the principal) to appoint someone you trust (your attorney) to make financial and legal decisions for you.

In NSW, Powers of Attorney are governed by the Powers of Attorney Act 2003 (NSW) and the prescribed forms under the Powers of Attorney Regulation 2024 (NSW).

Key points to know:

• A General Power of Attorney generally operates while you have capacity and will cease if you lose capacity.
• An Enduring Power of Attorney can continue to operate if you lose capacity.
• A Power of Attorney is for financial and legal matters (not medical or lifestyle decisions).
• A Power of Attorney generally ends on death (after death, your executor/administrator deals with your affairs).

Appointment of Enduring Guardian (Health & Lifestyle)

An Appointment of Enduring Guardian allows you to appoint a person (your enduring guardian) to make health and lifestyle decisions on your behalf if you lose capacity to make those decisions yourself.

This is a separate document to an Enduring Power of Attorney.

In NSW, enduring guardianship is governed by the Guardianship Act 1987 (NSW).

How we can help

We can assist with:

• Wills (including straightforward Wills and more complex arrangements)
• Wills for blended families and changing relationships
• Considerations around jointly owned property and how it may pass on death
• Enduring Powers of Attorney and General Powers of Attorney
• Appointments of Enduring Guardian (including substitute enduring guardians)
• Wills and practical estate planning discussions so your documents reflect your intentions

Important considerations

Not all assets automatically form part of your estate under your Will. For example:

• some jointly owned assets may pass automatically to the surviving joint owner
• superannuation and life insurance may be dealt with outside the estate depending on fund rules and nominations
• trust and company assets may not be personal estate assets

We can help you understand what this means for your planning.

Ready to get started?

To arrange an appointment to make or update your Will, Enduring Power of Attorney, or Appointment of Enduring Guardian, contact our office.

Call Dean Michael Solicitors in Vincentia on (02) 4441 5916.