Today is about starting a conversation around the difficult topic of what will happen when you’re near end-of-life, who will make decisions on your behalf if you lose capacity and how your Estate will be dealt with.
Although the conversation can be uncomfortable, it is important that your family and loved ones are aware of your wishes.
Here are some points to help start the conversation:
59% of the population have not made a Will. Have you prepared a Will to document what you would like to happen with your assets and has it been made with someone who has the expertise to guide you in what you need? Have you considered testamentary trusts, how your superannuation is dealt with, your family trusts and the asset protection and tax consequences of properly structuring your Will? Have you considered who will be appointed Guardian of your children and who will take care of your children?
Medical treatment and care are also important topics to discuss, so that your values and beliefs are honoured and respected if you lose capacity.
So this Dying to Know Day, have the conversation with your loved ones and make contact with an estate planning expert to assist you in arranging your affairs.
More information
If you would like more information and advice in relation to estate planning, please contact our Estate Group on (03) 8600 8885.
Note: This update is a guide only and is not intended to constitute legal advice.