You may often see why you should have these documents in place however, there are many people that chose not to have them in place. The choice is up to the individual, but it is important to know your rights and how things will work either way.
Changes to your relationship status can have a significant effect on your will, especially getting married or divorced. It is important to be aware of how these events can impact your will and be prepared to update it to ensure your will reflects your current wishes.
An Advance Health Directive, also known as an AHD, should be considered in your succession planning and is becoming just as popular as the Will and Enduring Power of Attorney these days.
Superannuation may be a valuable portion of your assets, however it does not automatically form part of your estate. In other words, just because you have a Will in place, does not mean that you have given directions as to your superannuation when you die – unless your Will specifically includes clauses as to superannuation.
Planning your Will can feel like a daunting and difficult task and often gets pushed back into the ‘too hard basket’.
Deciding what will happen in the event of your death may not be something you want to think about, but it is important to consider and prepare a valid will.
A De Facto relationship is essentially a relationship between two people who are not married or related by family and the couple is living together on a ‘genuine domestic basis’.
Creating a Will is important to protect you, your loved ones and your assets in the event of your death, however many people forget that your Will should be updated as changes occur throughout your life.