Given the importance of having a valid Will it is hard to comprehend that, according to recent reports, less than 60% of the Australian population have a Will in place.
The main reason why people delay making a Will is due to the simple fact that people do not like thinking about death.
So when should you think about creating and or updating your Will?
As noted in our previous Will articles, making or updating your Will should be considered when significant milestones occur, such as when you buy a significant asset (such as a house), get married, have children or go on an overseas holiday.
It is important to note that Wills are not just for the elderly. It often takes the death of a loved one to review your Will or take the first step towards getting a Will in place.
For more information about Tasmanian Wills this link will direct you to our detailed article on this topic - http://www.cormistonlegal.com.au/services/a-will-spares-loved-ones-extra-grief
Powers of Attorney
A Power of Attorney is a document authorising someone to represent or act on behalf of another person in business and financial matters. The powers granted under a Power of Attorney can be general or specific in nature. The person making a Power of Attorney is generally referred to as the 'donor'.
By making a power of attorney you chose who makes decisions on your behalf if you lose the capacity to do so. It also gives you the power to outline any restrictions, limitations, or directions you would like to give the person who you appoint as your attorney.
We recommend that you appoint an attorney at the same time as you make your will as you never know when you may need someone to act on your behalf.
For more information about Tasmanian Powers of Attorney this link will lead you to our detailed article on this topic - http://www.cormistonlegal.com.au/services/powers-of-attorney-explained
If you would like to make an appointment with us to discuss your existing Will or making a new will, please call us on 03 6332 9353 or use our contact us form - http://www.cormistonlegal.com.au/contact
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