A Will is a legal document that outlines how your assets will be distributed after your death.
In Queensland, there are several requirements for your Will to be a valid legally binding document. The person executing the Will must be over eighteen years old and have testamentary capacity to execute a valid Will. The Will must also be correctly executed and witnessed. To ensure your Will is a valid legal document contact Dillon Bowers Lawyers in Townsville to arrange for your Will to be prepared by one of our Wills and Estate Planning Solicitors.
If you die without a Will, or if your Will is found to be invalid, you are considered to have died intestate; this means you have died without a valid Will. If you die intestate, Queensland legislation will then apply in relation to the distribution of your assets. This can be problematic as the persons who may be entitled to your assets under the laws, may not be the person you wish to receive your assets.
When drafting your Will you will need to appoint an executor of your estate. This is the person who will be responsible for administering the estate and ensuring your wishes are upheld. An executor will collect your assets, pay any relevant debts and distribute the remainder of your estate according to your Will.
You will also need to outline who you wish to receive your assets, these parties are called beneficiaries. You can impose reasonable conditions on your beneficiaries but it is important to consult a Solicitor to guarantee that the condition is legal and is drafted in an effective manner.
A Will is a document that should be updated regularly if your circumstances change. If you marry this will automatically revoke your current Will unless it was made in contemplation of that marriage. Divorce will also automatically revoke any clause related to your ex-spouse in your Will.
Please contact Dillon Bowers Lawyers in Townsville to arrange a suitable appointment for your Will instructions to be taken. Our Solicitors will draft your Will to ensure it is valid and upholds your wishes. We also offer complimentary storage of your Will in our firm’s safe custody.
What to consider before arriving for your appointment with Dillon Bowers Lawyers:
- Who would you like to appoint as your executor;
- Who would you like to appoint as your beneficiaries and what gifts will they be receiving;
- If the person you wanted to receive your assets passed away before you, who would you like to receive your assets;
- Who would you appoint as guardians of your children; and
- Do you have a specific wish about being buried or cremated.
What to bring to your appointment:
- Photographic Identification
- The correct spelling of anyone being named in your Will and their address.
Contract our office today to speak with one of our Lawyers in relation to your Will.
Powers of Attorney
A power of attorney is a document that can provide another person with authority to make financial and/or personal and health decisions on your behalf. These documents can provide someone with the same power to make decisions as if they were you.
A general power of attorney can be used to provide another person with authority to make decisions in relation to someone’s finances. These documents can be drafted so that they are effective immediately or strict timeframes can be placed on them. Other limitations can also be placed on a general power of attorney restricting what the attorney can and cannot do. A general power of attorney is automatically revoked when the principal loses their capacity or passes away. These documents can be particularly helpful for our defence families while one person is travelling or has been stationed overseas.
There is also the option of creating an enduring power of attorney. This document can provide another person with authority to make decisions in relation to someone’s finance and/or personal and health matters. An enduring power of attorney can be established so that a person can have the power to make financial decisions for the principal immediately or upon some other occasion, such as loss of capacity by the principal. The power for an attorney to make decisions about personal and health matters only becomes active after someone no longer has the capacity to make these decisions themselves.
There are restrictions on who can be appointed as an attorney.
Contract our office today to speak with one of our Lawyers in relation to your Power of Attorney.