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Argent Law

2 Stawell Street, Melbourne (Richmond) VIC 3121 (03) 9571 7444
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Will Lawyers Melbourne can help with all of your Wills and estate requirements, including:

  • Provision of advice with respects to the relevant law that affects your Estate;
  • Discussion of items that you need to consider with experienced Will Lawyers Melbourne;
  • Drafting of your Last Will and Testament in accordance with the legal requirements pursuant to the Wills Act 1997 (Vic);
  • Drafting Power of Attorney documentation; and
  • Connecting you to other advisors (if necessary).

 

How to create a Will?

Most people hope that the preparation of their Will is going to be a simple and easy process. However, there are numerous factors that need to be properly considered in order to ensure that your assets are allocated according to your wishes and in some cases, in order to prevent any potential claim made to your estate.

Further, there are technical requirements pursuant to the Wills Act 1997, that must be adhered too in order to ensure that your Will is valid and binding.

Argent Law focuses on making the process as efficient as possible for you, whilst ensuring that your Will takes into account your unique personal circumstances.

 

The Argent Law Process

To get an idea of what the relevant considerations are, and to help us better understand your needs, please complete the following questionnaire.

– Will Questionnaire Form –

At Argent Law, our standard procedures to assist with the preparation of your Will, typically include the following:

  • We ask that you review and complete our online questionnaire;
  • Upon receipt of the questionnaire we will review it and arrange a time for a meeting or telephone conference to discuss, provide advice and take further instructions;
  • A draft Will is prepared and emailed to you for your perusal and review;
  • Once the document is in order and any amendments to your initial instructions are made we arrange the Will to be executed by Will lawyers Melbourne.
  • Your Will is locked away in our fireproof safe or you take your Will for safe keeping.

 

Things that might Complicate the Process

Sometimes, your estate planning may get a little more complicated and this can entail additional time for our Will lawyers Melbourne to prepare your Will. Some of these items include:

  • Several asset holdings;
  • Detailed and numerous distributions of the residue estate;
  • The inclusion of personal contents and extensive listing of personal chattels or contents in your Will;
  • Multiple Guardians and Executors;
  • Incorporation of Testamentary Trusts into your Will; and
  • Charitable Bequests.

 

Further Estate Planning Considerations

It is our recommendation that your Wills and Powers of Attorneys are prepared in conjunction with a range of other important estate planning considerations. You should raise with us if you think are important for your situation and include the following:

  • If you own a business, have you planned for the succession or sale of your business? As well as any business or investment entities (such as company’s and trusts) that you own or control?
  • If you have a business partner, have you considered buy-sell insurance?
  • Have you considered the various taxation implications for your estate and/or your beneficiaries where investments are passed on to them and subsequently sold?
  • Your Superannuation Funds and considerations therein, including nominations to beneficiaries (and implications of your choices). And potential steps which might be recommended based on your stage of life.
  • Your Personal Insurance needs and whether your current insurance and suitable for you now and in the future.

Argent Law is affiliated with Argent Accounting, Argent Financial Solutions and Wealth Arena. We can assist you with these further considerations under the one roof!

Argent Law also provides some other legal services such as Family Law, Conveyancing, Property Law, etc.

Power of Attorney

It is important to consider the need for power of attorney documentation. If you lose capacity and have not made a Power of Attorney, an application to VCAT has to be made to have one or more people appointed to make decisions on your behalf.

This means that the person/s responsible for making your decisions are not chosen by you. And, there are no guarantees that VCAT will appoint who you would expect.

Our Estate lawyers and Will lawyers Melbourne can provide advice on:

  • The different types of documentation;
  • Whether it is appropriate for you to have power of attorney documentation;
  • How to appoint attorney(s);
  • Who to appoint; and
  • How to revoke powers of attorney.

A power of attorney is a legal document by which you appoint another person or persons to make decisions for you.

The laws in relation to Powers of Attorney are forever evolving and each State and territory has different legislation that governs this area and in some circumstances, it is appropriate to have both Victorian documentation and for example NSW documentation.

In Victoria the powers of attorneys that currently exist are as follows:

  • Enduring Power of Attorney (Financial & Guardianship)
  • Enduring Medical Power of Attorney;
  • General power of Attorney; and
  • Corporate Power of Attorney.

It is vital that you seek legal advice to ensure that your Power of Attorney documentation is prepared in accordance with the current legislation as each document must specify:

  • What powers to give;
  • When the power starts; and
  • Who to appoint.

 

Enduring Power of Attorney

An Enduring Power of Attorney appoints a person (or persons) to make decisions on your behalf for the following:

  • Financial matters (e.g. Property affairs and finances);
  • Personal matters (e.g. Accommodation and health care matters); or
  • Both financial and personal matter.

The principal can place limits or conditions on the exercise of the power by the attorney(s) and can give instructions to the attorney(s) about the exercise of the power and we can provide you with advice in relation to same.

For example, we sometimes suggest that decision making power for personal matters, namely where you should reside should not be exercised until or if the person making the appointment loses decision-making capacity.

 

Enduring Medical Power of Attorney

An Enduring Medical Power of Attorney appoints a medical agent to make decisions about medical treatment and has the ability to refuse treatment if necessary.

The appointment begins only if and when the person who made the appointment (the principal) is unable to make decisions about their medical treatment.  For example, the principal lost decision-making capacity acquired a brain injury or was unconscious as a result of an accident or illness.

The Principle can only appoint one person as the attorney. A second person can be appointed as an alternative agent in the event that the first attorney is unable to act, is not available or has passed away.

Your nominated attorney (and alternate attorney) are not required to sign an acceptance. Therefore it is vital that you advise your attorney that you have nominated them, where your document is stored and what your wishes are.

 

General Non-Enduring Power of Attorney

A general non-enduring power of attorney is a legal document where the person who made the appointment (the principal) appoints one or more people to make financial decisions for a specific purpose and for a fixed period of time.

For example, someone needs another person to run their business whilst they are overseas.

A general non-enduring power of attorney is not for future planning. If the person who made the power at a future point in time does not have decisions making capacity for the relevant financial matters, a general non-enduring power of attorney does not operate and the attorney cannot make decisions during this time.

 

Corporate or Company Power of Attorney

A Company Power of Attorney is when a company, in accordance with its constitution, appoints a person to act on behalf of the company.

Will lawyers Melbourne, must review your company constitution and prepare the document in accordance with same.

Fill out the form aside and our will lawyers Melbourne will get in touch with you to discuss your case.

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