Don’t say “one day” – because you may just leave it too late.
A will is the main way to make sure your estate is distributed the way you want it to be upon your death, not how the ‘state’ decides it should be. However, it’s not a ‘set and forget’ document. As your circumstances change, it’s a good idea to review your will, or at least aim to review it, say every five years.
Every time your family changes size or shape, when children and grandchildren are born or grow up, it’s a good idea to revisit your will as you may want to treat different-aged children differently in your will.
There are also marriages, de facto relationships, separations, and divorces that change how a family relates to each other. If something has changed in your family situation, such as one of your beneficiaries has passed away, it’s important to reflect on how these changes affect your will.
Perhaps you’ve started a new business or sold one, received an inheritance, or added money to your superannuation. These factors may impact how the tax office handles your estate upon your death, so it’s a good idea to cross-check how these changes could affect your will.
Perhaps you have an old will that is full of legal jargon, we can help decipher it and put it into plain speak for you. We’re here to be a sounding board and help you cover all the bases in your will.
Perhaps you know of an estate which is not being distributed as directed in the will. We can inform you of your options to have the will distributed correctly as well as the appropriateness and likely outcome of commencing legal proceedings.
Enduring Power of Attorney
Sometimes, due to an accident or illness, or we are unable to make decisions for ourselves or sign important documents for ourselves.
An Enduring Power of Attorney enables certain aspects of your business, personal or financial affairs to be managed according to your wishes. Edgar and Wood strongly advocate for EPAs to be put in place responsibly and appropriately to protect against the risk of attorneys abusing the powers and trust placed within them.
We’ll work with you and your selected attorney/ies to ensure that what you are agreeing to is clearly understood.