Personal Law -
Legal Advice

The failure to make these decisions, usually leads to the creation of a lot of unnecessary problems for your loved ones. And, this usually happens when there is a lot of emotional trauma already occurring, and can involve a lot of time and money which could have been avoided by preparing ahead.

So What Are These Personal Law Decisions?

These are the decisions to create the following documents;

A Will,

An Enduring Power of Attorney, and

The Appointment of Enduring Guardian.

Below, is a discussion on what each of these documents are, and why they are so important.

THE WILL

The Will is a personal law document, also known as a Last Will and Testament, created by you, which specifies how you would like your estate, which is comprised of your assets, distributed after you die. It also states the person or persons you trust, to look after your estate, until, it is distributed in accordance with your wishes.

It is an important document, as, it is the only opportunity, with some exceptions, that you can dictate from the grave, who you want your money given to. You have worked hard all your life to accumulate your money. Why shouldn't you decide who is to get it after you have gone? That is why it is called a personal law document. It is personal to you.

Click to read more about why you should have a Will.

Click to read more about Will basics.

THE ENDURING POWER OF ATTORNEY

In personal law, this is the document you create to appoint someone, or several people you trust, and, it should only be someone you absolutely trust, to make financial decisions for you. Usually, it should only be used, if you are incapable of doing it yourself. You may have suffered a stroke, or be incapacitated for some other reason.

Sure, you can appoint a Power of Attorney at any time. Indeed, it is used by people all the time. However, if it is to be effective, because of your mental health, it has to be enduring. This means that it will continue to operate whilst you are alive, and you are unable to make decisions.

The Enduring Power of Attorney is about who makes the financial decisions for you, when you aren't able to make them. We all hope to go to our grave with our wits about us, but, the harsh reality is, that some of us don't.

Click to learn more about the Power of Attorney and its importance as a personal law issue.

THE APPOINTMENT OF AN ENDURING GUARDIAN

This is another document you create, in personal law, appointing someone or a number of people to make the decisions for you in regard to your health and welfare whilst you are alive, if you cannot make the decision.

It is not about money. It is about giving the power to someone, to decide issues such as where you live, what medical treatment you receive, and other personal health and welfare issues, when you can't.

Like the Power of Attorney, you should only appoint someone you trust with this power. It could be a family member, or a very close friend, but, you must satisfy yourself that they understand what you want to happen to you, if you ever get to that stage where you are unable to make the decision yourself.

Click to read about how to ensure you have a legally appointed Guardian.

So, Why Create These Documents?

Making your Will is just plain common sense. It provides for the orderly distribution of what you leave, in accordance with your wishes. The failure to make a Will, means that you die intestate. This means, that your money is distributed in accordance with the distribution as prescribed by Legislation. You have no say in it, and someone you don't want to get anything, might very well do so.

Also, it will cost more to finalise your estate, and even if it is given to those you want, they will get less because of the extra costs.

In regard to the Enduring Power of Attorney, and Appointment of Enduring Guardian, it is not impossible for your loved ones, to obtain a Financial Management Order, or, be appointed as your Guardian. 

However, if they are taking this step, it will usually be at a traumatic time, and will involve time and money on their behalf. Instead of focusing on your needs, they will be trudging to Doctors, the Tribunal and others to get the tools they need to look after you.

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