Knowing what will happen to you and your assets if you are unable to make decisions is an important financial consideration.
In a perfect world, we'd all live forever and in perfect health.
Unfortunately though, the world isn't perfect. Knowing what will happen to you and your assets if you are unable to make decisions, or in the event of your death, can be quite morbid. However, it is important to most of us.
You need to know that your wishes will be honoured to reduce stress and confusion on your loved ones should the worst happen.
A Will is a legal document that outlines what should happen to your assets and belongings in the event of death. Having a clear and valid Will is the best way to ensure that your assets are protected and distributed according to your wishes.
Enduring Power of Attorney
An Enduring Power of Attorney (EPOA) is a legal document in which you appoint another person to act on your behalf if you are unable to manage your financial, legal and personal affairs, make decisions in respect to your health and personal matters due to incapacity.
Is a trust created in a will which is activated upon death. Instead of assets passing directly from one person to another, the assets are passed to the Testamentary Trust and then administered by a designated trustee - usually family members, a trustee company, solicitor or an accountant.
Disclaimer: The information on this website is general information only and is not intended to be a recommendation. We strongly recommend you seek advice from your financial adviser as to whether this information is appropriate to your needs, financial situation and investment objectives. Whilst every care has been taken in the preparation of this website, 452 Pty Ltd, its directors, authors, consultants, editors and any persons involved in the construction of this website, expressly disclaim all and any form of liability to any person in respect of this website and any consequences arising from its use by any person in reliance upon the whole or any part of this website.