At City First Solicitors we deal with all aspects of wills and power of attorney. Elements that often require decision-making include property, personal matters and those relating to a living will. We provide personalised and expert service to our clients.
Will - every adult must have one
Death visits us unexpectedly.
Upon death, the last thing we want is having our assets fall into wrong hands.
If you die without a valid will (intestate) the State may decide who will inherit your property. Then, the resolution of your estate can be a very costly and a prolonged exercise for your loved ones.
It is very important to have your will properly drafted by an experienced legal practitioner. Beware of the wills that you can buy from a newsagent. They are not tailor-made to address your individual circumstances. The last thing you want is for your loved ones to fight against each other over an ambiguous will. What you want is that upon your death your assets are distributed in exactly the way you intended.
When you go to see your solicitor you should provide full details about your will. Be careful about omitting dependants from your will as by law, they may be entitled to maintenance from your estate. Certain assets held as joint tenants, superannuation funds, life insurances and family trusts may not be bequeathed in a will. If you wish you can state in your will about your wishes in regard to your funeral.. Don’t hesitate to ask your solicitor any questions you have about the operation of the will’s provisions - especially about any potential pitfalls in their execution.
If you have already made a will but your circumstances have since changed (eg: you bought a new house, entered into a new relationship or acquired new assets) then you should update your will with a codicil or make a new will.
You can keep the original will at home or place it in safe deposit with your solicitor. Always remember to keep a copy of your will with you.
What is Power of Attorney?
People generally make decisions about their affairs in life. However, there are a number of situations where they may need to entrust that power to someone else. The power of attorney is legal advice that enables a person to be assisted in making decisions.
When could power of attorney be required?
A person may wish to grant a power of attorney in a range of circumstances, such as:
• When a person is out of the country
• To empower another to manage his or her business
• To attend to his or her personal affairs or property matters
• To make financial or health decisions, when he or she is no longer able to make such decisions themselves because of incapacity.