Who Needs A Legal Will in Australia?

This is a great question that should be answered by everyone. The answer is a bit of a paradox. Anyone of legal age (18) who is above ground and taking oxygen should have a legal will. In fact, the correct answer raises another question.

Who does not need a legal will in Australia? The correct answer is: everyone.

Understood that nobody enjoys contemplating death. Exercising your right to create a legal will in Australia is not about dying. It is about living. Your legal will insures that in the unlikely event you die prematurely, your assets will be accounted for precisely in the manner you would like. The reason a legal will is about living is that when the legally binding document is properly recorded it sets in motion a plan to distribute your holdings to any person, place or thing you so desire.

That distribution can include your immediate family, your not-so-immediate family, a favorite charity or organisaton or a special friend with whom you may not be officially bonded, like a fiancée or unborn child, who may have no legal rights without your will.

Who needs a legal will In Australia? Everybody.

Even if you presently have no assets, you might be surprised how a will can come into play. In a worst-case scenario, you are young, totally filled with life and struck fatally by a vehicle. What will happen to the insurance proceeds? Suppose on the very next day, your lottery ticket cashes? Will you trust the judicial system to distribute those assets as you would want?

Good luck! Wishful thinking, my friend. And, without a will, our judicial system will not only administer the estate assets but it will take its own share of the pie.

Who needs a legal will in Australia? You do. And, you need it today.

A valid will is created using three important steps.

1. Create the will in writing.
2. The testator (you) signs the document and authorises the distribution plan to your specific and designated beneficiaries.
3. Have two witnesses who are not beneficiaries or married to a beneficiary of your estate and who are over the age of 18, attest the will in writing.
4. Record the document.
5. Go about living life to the fullest
6. Review your will and make necessary changes at any time your living and relationship changes develop.

Simple isn’t it? If everyone in Australia followed this formula, our judicial system would rise up and thank us. Certain regions have guidelines that may slightly vary the filing process.

However, the really good news is that creating and filing a legal will has become so simple, so standardised that online processors can offer easy-to-read, easy-to-understand forms to assist in the recording of your legal will. The testator can complete the form in minutes and receive assistance from these very providers.

Who needs a legal will in Australia? Everybody.

Have it your way for the rest of your life. Create and manage an online legal will today and get on with living. After all, that’s what legal wills are all about.

Understanding Your Power Of Attorney Options

Australia is fortunate that the NSW Powers of Attorney Act of 2003 defines the various procedures and protection associated with various recognised Powers Of Attorney (POA). The reality of today's world is that everyone should have some sort of Power Of Attorney. Depending on your circumstances you mat elect to have several different POA's naming different persons to handle specific concerns.

The immediate benefits of an executed Power of Attorney are that you and your loved ones can enjoy peace of mind that your affairs will be managed by a person of your choice. If you are traveling or ill, a power of attorney will enable a person you trust to make important decisions and sometime life-saving decisions.

Of course if life went the way we scripted it, these POA's would not be necessary. However, when it comes to your business, personal or medical concerns, you should have a primary and backup plan. The Power of Attorney allows you to be covered and in the long run can save you thousands of dollars in legal and court fees.

Now, it is easier than ever to execute a power of attorney. Reputable online providers can help you prepare and file the Power of Attorney of your choice. These are the three primary Power of Attorney Forms recognised by the Australian judicial system today.

Enduring Power of Attorney - An enduring power of attorney allows an individual of your choice to make decisions regarding your business, financial and personal matters. The enduring power of attorney can be structured to take effect immediately upon execution or at a time when you are disabled. Once the enduring power of attorney is enacted, your representative's signature acts as your own on legal documents, with banks or in other matters, such as real estate transactions.

Medical Power of Attorney - Te medical power fm attorney has become very commonplace. When you appoint a medical power of attorney, that person has the right to authorise treatment and make medical decisions on your behalf.

General Power of Attorney - When you are traveling or experiencing a temporary interruption to your routine that will make you unavailable, you can assign a general power of attorney. Under the terms of a general power of attorney, your representative can make decisions about your assets, your medical care or execute documents on your behalf.

Obviously, it is important to select a trustful person to hold your power of attorney. Selecting the right person is the key to easing the minds of your loved ones as difficult decisions are reached on your behalf.

All standards for proper issuance and execution of a Power of Attorney are reviewed by the Australian Guardianship and Administration Committee.

The Will – The Path to The Future

If you care about the persons in your life, there are many things you will do during the course of your life to better their lives. As a person who provides, love, friendship, income, savings, housing, food, clothing and emotional and material assistance, your friends and family may rely upon you more than you think.

What you do and how you handle your will reflects the care and planning that you have always provided. Unfortunately, the failure to provide a will can lead to confusion, internal disputes, serious tax repercussions and destruction of the very relationships you have strived to build and protect.

These occurrences take place when a will is not in place and decisions about your assets are left to the discretion of the judicial system. The court system rarely sees life or your life's work the way you do. The judicial system of disbursement is based on law, not on need, personal preferences and sentimentality.

Individuals, who do not have a will, actually add to the emotional and financial stress that will follow their demise. It is sad. Regardless of the sise of your estate, regardless of your age or time of your life, it is time to create your will. You and your family and friends will be protected. The steps you take today will assure that your wishes are followed and that your estate is protected against unnecessary administrative fees and a drawn out expensive settlement.

Doubtless, the composition of your estate will change over time. That is only natural. In fact, your personal circumstances and your personal relationships may also change. That is part of life. The good news is that your will can be changed to reflect these changing life patterns. But, you have to start somewhere.

Certainly, nobody plans on dying. Most people don't like to think or contemplate their death. However, we all spend time planning for the future. And, every good plan allows for the unexpected. Don't leave your family and loved ones in a quandary. Draw a legal will today and update the contents regularly. Your family may not want to think about your death, but if something were to happen, there will be no disputes, no prolonged court appearances and no unexpected tax liabilities.

When a person dies without a will, the court has the full authority to make all decisions regarding the estate. Some property may pass directly to your spouse or other persons as detailed in trusts, but the majority of the assets in your estate will be managed by the court. This can be a contentious process and one that is easy to avoid.

The court will not take into account the most advantageous tax circumstances and will charge expensive administrative fees that are the obligation of the estate.

Your will is your chance to set the record straight. A minor amount of planning can maximise the value of the estate and decrease the tax liabilities. Your loved ones will be protected in precisely the manner you intend. You are never too young or too old to protect the ones you love. Create a will today so your loved ones can live tomorrow

Make Your Wishes Known With a Legal Will

A recent report from Canada indicates that as much as 45% of the population does not leave an acceptable will upon the death of the principal. The consequences of this neglect usually cause ill will among family members and significant others as well as costing the estate large sums of equity.

In cases where there is no will, the court is mandated to intervene and distribute assets according to either state laws or their own judgment, depending on the state and country. In addition to filing fees, court fees can cost as much as $300 per hour. It does not take very long to eat away large sums and if there is a dispute, the fees can quickly reduce the size of the estate.

With today’s complicated marital structures, family compositions and the existence of divorce and emergence of significant others, there are many factors for a court to consider. The only person who really knows what the intended distribution of assets should be is the deceased.

While we do not like to consider our own mortality, life’s events often catch us by surprise. When it comes to the creation of a will, avoidance leads to bitter legal disputes as heirs vie in their own best interests. Family members who have spent their lives holding spouses and siblings together and creating whatever wealth they have been able to accumulate face the strong probability that the family unit will be destroyed by the absence of a duly executed will.

Additionally, the absence of a will and the ensuing court distribution of assets do not generally create the most favorable tax structure. It is all so unnecessary. With a bit of forethought and perhaps some accounting and legal advice, anyone can create a will at any time.

This is the deceased’s opportunity to divide the estate in the manner most fitting and precisely to their liking. The biggest motivation in creating an original will is to assure that your wishes are followed and that there is no mistaking your wishes. Property should be distributed to the heirs of your choosing.

Regardless of the size of the estate, a will makes a lot of legal and common sense. The originator can always change the will as time moves along. Most people review their will periodically and make adjustment as life unfolds. The only question is why wait? Your family and loved one’s futures are at stake and your own personal sense of setting the world right is important. Even if you are young, creating your will today and maintaining it periodically will assure your wishes for the distribution of your life’s work.

The Importance of Writing Your Will

We have all seen the unhappy results of seemingly harmonious families dealing with the death of a loved one and the subsequent chaos over the unstated distribution of the deceased's assets and personal possessions. The ensuing events can involve legal actions, unnecessary expenses and worse yet, irreparable rifts between family members. Some families never get past the damages caused by the deceased's failure to properly draw and execute a will.

The results are contrary to the deceased's wishes and the related legal fees and court costs greatly diminish the value of the estate. Heirs are rightfully trying to read between the lines. They do their best to determine what the deceased loved one would have wanted, but they never seem to agree.

This sad occurrence is the setting for many movies, books and stageplays, but it is painful to watch and endure. Worst of all, it is completely unnecessary.

The preparation and proper execution of a will is an opportunity to settle your estate while you are alive. This is your chance to set the record straight and avoid needless squabbles among heirs in the event an unexpected fatality occurs. The purpose of a will is to eliminate misunderstandings and assure that the precise wishes of the deceased individual are followed.

Many persons feel their estates are not significant enough to merit a will. This is definitely not the case. Regardless of the size of the estate, the probate court will administer the distribution of assets unless a will exists and a court-appointed executor will be paid by the estate, thus diminishing the estate even further.

A proper will appoints the executor, avoids court appointed costs and sets a distribution plan that complies with your wishes. As we never know the course of our lives, it is never too early to create a will, which can be amended as one's life unfolds and changes. The creation and execution of a will does not alter the way you conduct your affairs or buy, sell or distribute assets while you are alive. The will simply protects the ones you love and helps them avoid conflicts after you have died.

Today, there are cost-effective online legal will creation services, that can help you organise your thoughts about your estate and prepare and legally record your will. The process is simple, non-invasive and once recorded reaps tremendous peace of mind to you and your heirs. Wait no longer! Draw your new will today and then enjoy the life ahead.

Creating Your Will, Living Will or LivingTrust Made Easy!

Wills, living wills and living trusts are essential documents that provide peace of mind and resolution to your overall estate planning. While each document serves a different and specific legal purpose, everyone should be familiar with these instruments.

You have worked hard to protect your loved ones. The proper use of these three legal instruments will make sure that your loved ones are not unduly burdened in the future and that there is no confusion about your estate. Creation of your will, living will or living trust will protect you, your loved ones and your estate while assuring that your precise wishes are enacted upon your death.

To begin protecting your estate and planning for the future, you should become familiar with the intent and legal purpose of the will, the living will and the living trust. When you understand the significance of each document, you will be prepared to select the document or documents that best suit your purpose.

In this day and age, it is virtually inconceivable that each individual does not have a will and a living will. The living trust is practical but the use of the living trust may depend upon the composition and scope of your estate.

The Will – The will is a legally binding document that contains information about your estate. The will generally identifies assets and sets a specific course of distribution of those assets upon your death. The will can also establish a legal guardian for specific minors and define the terms for future distributions to those minors. In the will, you will have the opportunity to specify the future payments of debts, funeral expenses and any outstanding taxes. Many persons use the will to legally designate an executor who will be responsible to administer your wishes. Regardless of the size of the estate, every individual should complete and file a will. This avoids the potential of confusion upon your death. Creating and filing a will is a simple and inexpensive process that can save a great deal of emotional stress among loved ones in the future.

The Living Will – The living will is an important legal instrument that expresses and clarifies your precise instructions should you ever enter a prolonged medical condition. The living will notifies loved ones and health care providers of your specific wishes and instructions. Common issues addressed by the living will include instruction for resuscitation, blood transfusions and life support decisions. The living will allows the individual to set personal instructions about these difficult but inevitable decisions while relieving loved ones from making decisions that may not comply with your wishes. In today’s world, health care providers have become insistent about the creation and use of a living will. Again, the living will is inexpensive to create but serves an important legal purpose.

The Living Trust – The living trust is another legal document that authorizes a trustee to administer all affairs about your estate. This can include liquidation, distribution and other conditions specific to your instructions. One advantage of the living will is that it circumvents probate court. Once the trustee takes control of the estate, the trust is negated. The creation of a living trust does not negate the need for a living will, or even for a will as the living trust only applies to the assets specified in the document.

Whether you decide to create a will, a living will or a living trust, the presence and location of these instruments should be made known to your loved ones. Documents of this nature should be preserved in a safe, dry location. Many persons keep copies and store originals with an executor, trustee or attorney. While you may want to consult with an attorney to make informed decisions about which documents will best serve your intentions, it is not necessary to retain an attorney to draft the documents.

To create a solicitor verified legal will, everything you need is available at Legal Will Online. Use the easy-to-use, easy-to-access service to legally create the document or documents of your choice. When it is convenient, feel free to review the instruments with your attorney. Create your will, living will or living trust and relax. You have done everything you can for your loved ones. Now is the time to enjoy them!

Superstar Fatalities Highlight Need for Will

It may sound trite but the recent wave of unexpected superstar fatalities, including Michael Jackson’s untimely death, point to the need for a legal will. Regardless of age, marital status or size of the estate, drawing a will makes a lot of sense and can simplify the estate issues in the event of a surprise fatality.

The turmoil surrounding Michael Jackson’s $1 billion estate and the protracted litigation surrounding Australian rock star Michael Hutchence’s $20 million estate demonstrate the emotional stress, inflated costs and confusion that can arise from improperly filed and updated wills.

Creating and filing a will is all about stipulating your wishes clearly, concisely and in sound legal format. A proper will eliminates family squabbles, creditor complaints and assures that the wishes of the deceased party are identified. Basically, a sound will outlines a footprint for the legal system to administer in an orderly manner.

Scott Whitla, a partner with McCullough, Robertson Lawyers in Brisbane suggested that Jackson’s will, which was reportedly last visited in 2002, has created a legal nightmare. “His mother, Katherine has already challenged the will’s executors and creditors are waiting in the wings,” offers Whitla. Of course, with each legal battle the assets of the estate are further diminished and the chances of events unfolding the way Jackson has envisioned become less and less.

Unfortunately, legal confrontations over estates are not limited to superstars. Issues of inheritance, custody and administration can be resolved with a properly drawn and recorded will. Wills can be adjusted in later years so the individual can make adjustments as family situations change.

“Careful thought must be given to what you own and how you own it and your wishes and intentions must be balanced against the needs of your surviving family members,” said Whitla.

Dying without a will can raise serious issues, as family members tend to want to interpose their wishes as opposed to the legal process for estate distribution without a will. The individual drawing the will should always consider tax implications when making final decisions.

Despite legally establishing a footprint for distribution, the will is easy to amend as the need mounts. However, a person’s will should be reviewed periodically to assure accuracy.