DCM Lawyers can assist with the preparation of your Will and with all the four types of Powers of Attorney used in Victoria:
A valid legal Will can make sure that your family is not left with the burden of sorting out your estate if the worst should happen. It allows you to appoint trusted friends or family members to act as your executor when you’re gone and ensures that you can treat your assets in the most effective way to maximise the inheritance for your family.
Anyone over the age of 18 who has the capacity to understand the nature and consequences of the document, who makes the decisions in the document of their own free will and who can communicate clearly what those decisions are.
Before you need them! These documents safeguard your interests in the event of something unforeseen – such as an accident or illness that robs you of your capacity to make decisions for yourself. It is better to be prepared and confident in knowing that the person you choose will be making important decisions about your money, your living arrangements and your health.
For a Power of Attorney (Financial) it begins when you nominate that it should. Powers of Attorney (Medical Treatment) and Powers of Attorney (Guardianship) only commence when you are unable to make your own decisions.
You need to appoint someone your trust to make the right decisions. With a General Power of Attorney and an Enduring Power of Attorney (Financial) you can appoint more than one person to make the decisions jointly.
They are legally responsible to you and must act in your best interests. While you have mental capacity they must obey your instructions. They cannot give gifts to themselves or to anyone else unless you specifically authorise this and they must keep their finances and money separate from yours, keeping accurate records of all of their dealings with your money.
It’s really important that you discuss these documents with a lawyer who can give you professional advice about your particular circumstances. You should also discuss your wishes with your family to avoid unnecessary conflict and stress.
Yes, these documents need to be witnessed by a person with statutory authority such as a solicitor or Notary Public.
Can I change my mind?
Yes, as long as you still have the decision making capacity to do so you can revoke or change these documents.
Contact us to find out more or to arrange an appointment with a lawyer experienced in drafting Powers of Attorney.