Here Are The Top 5 Most Common Estate Planning Questions

Planning for the future isn’t just about finances.

It’s about ensuring your wishes are respected when it matters most.

Here are five of the most commonly asked questions about Wills, Powers of Attorney, and Enduring Guardians.  

1. What happens if I die without a Will?  

If you die without a Will, your assets will be distributed according to intestacy laws, meaning the Court decides how your estate is administered and divided.

This may not align with your wishes and could lead to disputes among your loved ones.

A valid Will ensures that your estate is handled according to your plans.  

2. What is the difference between a General Power of Attorney and an Enduring Power of Attorney?
 
A general Power of Attorney allows someone to act on your behalf for financial and legal matters, but it becomes invalid if you lose capacity.

An Enduring Power of Attorney continues even if you become incapacitated, ensuring someone you trust can manage your financial affairs when you can’t.  

3. What is the role of an Enduring Guardian?  

An Enduring Guardian makes medical and lifestyle decisions on your behalf if you become incapacitated.

This includes choices about where you live, medical treatments, and who can visit you.

Unlike a Power of Attorney, which covers financial decisions, an Enduring Guardian ensures your personal and healthcare needs are met.  

4. Can I make changes to my Will and revoke a Power of Attorney?  

Yes, you can update your Will at any time as long as you have the legal capacity to do so.

Similarly, you can revoke a Power of Attorney whenever you choose, provided you are still mentally capable.

It’s important to regularly review these documents to ensure they reflect your current wishes.  

5. Who should I choose as my Executor, Power of Attorney, or Enduring Guardian?
 
We cannot tell you specifically who to nominate.

However select someone you trust to act in your best interests, whether a family member, friend, or professional advisor.

They should be capable of managing responsibilities effectively and be willing to take on the role.

Discussing your decision with them beforehand is crucial to ensure they understand and are comfortable with the duties involved.  

Don’t wait for the unexpected.

Call me now today to arrange an appointment to make or amend your Will, Power of Attorney or Enduring Guardian, or if you have any questions.

 
Regards
Paul Ippolito

Principal, Ippolito Lawyers