Why it is essential to draft your Will early and secure your estate
There are a number of reasons to think ahead in life, and too few consider the pragmatic importance of wills and estates, before it is too late. The question of delegation, custodial responsibilities, trusteeships, and the overall plan of action for your assets in the event of death falls within the consideration of wills and estates law – in the event of death without a properly drafted and officiated Will, Enduring or limited Guardianship and/or Power of Attorney, headaches and problems can arise among family members and friends.
As premier will and estate lawyers in Sydney, we have assisted many clients in getting a head start on the processes to ensure that their wishes are followed through in the unfortunate event of death or disability. We heartily and unequivocally recommend anyone who is considering preparing for these scenarios to do so as early as possible – not only for peace of mind for your family, but also to assure that your final wishes are fulfilled.
If you’re considering your future, or have questions surrounding testamentary trusts, enduring Guardianships, limited Guardianships, Powers of Attorney, appointing the executor of a will, or even wish to find out more about contesting a will – get in touch with one of our team today.
Why it is important to think ahead and get it done early
You are ensuring security and protection for your loved ones.
The foremost reason for drafting these important documents early is that you are assuring security will be provided for your loved ones should the unexpected occur. If one is to pass away or lose capacity without organising their will and estate, difficulty invariably arise in the delegation and assignment of your estate, or decisions in relation to your health and finances.
While it is not enjoyable to consider, if you have children and something does indeed happen to you, you want to ensure that they will be taken care of monetarily, as well as custodially – which is another important reason to draft your Will or consider enduring or limited Guardianship and a Power of Attorney as early as you can.
You have more time to ensure there are no issues.
The earlier you consult with a wills and estates lawyer to draft up the documents you require, the more peace of mind you will gain as a result. Typically rushing through anything is not wise as things can be overlooked when not considered holistically.
The benefit of thinking ahead and getting a head start on everything while there is still an generous amount of time is that you have time to properly consider the each bequeathment, asset and how you would like the distribution of your estate to effectively be structured in the event of your passing. Additionally, properly considering how you would like either or both of your health or finances to be managed of you lost capacity is incredibly important to ensure that the best decisions are made on your behalf by an individual(s) you trust.
Remember, you can always change and adjust anything as time goes on.
Saving loved ones from arguments after your passing
Familial disputes after a death are more common than you may think. Sibling rivalries over the amount that is being delegated and squabbling between different sides of the family can potentially lead to an application with the Court where a will dispute lawyer is called in for each side making an already emotionally compromising situation, more so.
The larger your family or the more complex your familial situation is, the better off you will be in getting a head start on it as early as possible to quash any arguments before they begin.
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Pickering Pendleton are your resident will and estate lawyers in Sydney – we provide considered and thoughtful advice, guided explanations, and comprehensive representation in all facets of wills and estate law. We can assist you in every step of your drafting process and can answer any pertinent questions you may have.
We operate with cost-efficiency in mind and will always go the extra mile for our clients and provide a holistic service that no other firm can offer.