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Showing posts with the label wills-estate
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Enduring Power of Attorney in Australia: What It Is & How to Set One Up An Enduring Power of Attorney (EPA) lets you appoint someone to manage your financial and legal affairs if you become unable to do so yourself. Here’s how to create one that’s valid in Australia.  1. What Is an EPA? An EPA is a legal document that survives your incapacity. Unlike general powers of attorney, which end if you lose decision-making capacity, an EPA continues to operate. 2. Choosing Your Attorney Pick a trusted person (or up to two jointly) who understands your wishes and is willing to act. You can appoint a primary attorney and a backup. 3. Legal Requirements & Signing Requirements vary by state/territory but generally include: You must be over 18 and have capacity when signing. Use the correct form for your jurisdiction (e.g., NSW EPA form). Sign in front of two adult witnesses (one must be a qualified witness). 4. Activation & Scope You decide whether the EPA ta...
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How to Make a Will in Australia: A Simple Guide Creating a will ensures your assets go to the people you choose and reduces family disputes down the track. Follow these five steps to draft a valid will under Australian law.  1. Choose an Executor Select a trusted person (or professional service) who will carry out your wishes. Confirm they’re willing and understand their duties: collecting assets, paying debts and distributing inheritances. 2. Identify Your Assets & Beneficiaries List all significant assets—property, bank accounts, superannuation, investments—and specify who gets what. Be clear (e.g., “my 2019 Holden Colorado to Alice Smith”). 3. Appoint Guardians for Minor Children If you have children under 18, name a guardian in your will. Without this, a court may decide who looks after them. 4. Sign & Witness Correctly Under the Succession Act, you must sign your will in front of at least two adult witnesses (who are not beneficiaries). All three must sign ...