Why appoint a guardian for your children?
If you have young children, have you ever thought who would look after your children after you pass away? Even if you have a partner, or your children have another parent, there is always the possibility that both of you pass away at the same time – and then what happens?
Estate planning for people
who have young children often focuses on appointing a guardian. You may already have other family members in mind, or maybe a close friend who you can trust to have your child’s best interest at heart. The issue of appointing a guardian to look after your child is a very important consideration, not just from a legal perspective, but also from a social perspective.
Your child will be a minor until they turn 18 years old, and only then will the law recognise them as an adult together with all the legal rights and responsibilities as an adult. If you pass away before your child becomes an adult, it is likely that you will need to appoint a trustee to look after the financial aspects of your estate (possibly for the benefit of your child) and a guardian to care for your child’s welfare and upbringing. These appointments should be properly addressed in your Will.
Aside from appointing a guardian, your Will may also include directions for guardians with regards to place of residence, academic and/or religious upbringing, health and medical issues – basically, any matter that would otherwise normally concern a parent. Ensuring that your testamentary wishes regarding your child and appointing a guardian is properly documented hopefully will lower the likelihood of disputes over who should be responsible for your child – either through choice or circumstance.
Life is full of twists and turns, however with some planning in advance you can ensure that the children that you leave behind are in good hands and are cared for by the right people – people that you trust.
So why delay? If you are interested in drafting or reviewing your Will and what it says, give us a call or use the quick contact form to get in touch with us.
Want to know more about Wills and Estate Planning?
For more information regarding our estates and succession planning services, including will preparation, powers of attorney, enduring guardianship, obtaining probate or letters of administration, and managing deceased estates, please use the quick enquiry form found on this page or call our office on 02 9687 8885. Our experienced estates lawyers look forward to assisting you with your Wills, and your estate and succession planning requirements.
This website is proudly supported by Phang Legal. This article was posted by Ern Phang, director of Phang Legal.
Tags: benefit, children, drafting, estate, family, guardian, legal, planning, testamentary, trustee, will, Wills & ProbateRelated posts
Good Will Week 5-11 August 2012
It’s back again. Every year around this time, the NSW Trustee & Guardian presents Good Will Week. Good Will Week is a community education program organised by NSW Trustee & Guardian that encourages adults to make and update their Will.
This year, Good Will Week is between 5-11 August. The theme of this year’s Good Will Week campaign is “Before you take off,
take up a Will” reminding all Australians to make sure they have an up-to-date and legally valid Will in place before they head off on holiday.
For more information, visit http://www.makeyourwill.com.au/good-will-week.html.
Want to know more about Wills and Estate Planning?
For more information regarding our estates and succession planning services, including will preparation, powers of attorney, enduring guardianship, obtaining probate or letters of administration, and managing deceased estates, please use the quick enquiry form found on this page or call our office on 02 9687 8885. Our experienced estates lawyers look forward to assisting you with your Wills, and your estate and succession planning requirements.
This website is proudly supported by Phang Legal. This article was posted by Ern Phang, director of Phang Legal.
Tags: good will week, guardian, trustee, update, will, Wills & ProbateRelated posts
Wills aren’t always the solution!
Don’t wait – work on your relationships today
There have been many times when clients have asked me to prepare a Will because they’ve got a relationship issue. Often it relates to problems they might have with their parents or children, sometimes it’s with their siblings and even their spouse. A few times, I’ve been asked to prepare a Will to exclude someone’s partner because they were thinking about separating/divorcing, and once this ‘precaution’ was in place, they plan to walk out on their unsuspecting partner.
I appreciate that a Will is important to protect their interests and I’m often the first to stress this to anyone who
asks, but is it the solution to the problems with their relationship? I suggest not. It’s a solution, but might not be the best solution.
A Will is your lasting legacy. It’s what you leave behind, and as much as it has legal meaning there’s also an emotional or social meaning attached. How you express yourself in that Will can also become important – after all, it’s also communication tool. What do you want to say?
In the ‘heat of the moment’ sometimes emotions can overcome better judgment, and if not properly challenged, could result in less than desired outcomes simply because someone thought it could be resolved through writing or changing their Will. Often the motivation for people to ask for a Will at this stage is that ‘someone told them that they could…’ and it’s advice that they’ve obtained in passing, at a social event, or through gossip. Obviously, none of that replaces professional advice.
Life is short, and the opportunity to resolve some of these issues don’t always present themselves. Not taking advantage of the opportunity can have lasting consequences, especially for anyone who is left behind – even though you won’t be around to regret once it’s too late. The bottom line is that while you’re alive you’re in the best position to resolve the issues, don’t wait until you’ve gone and rely on your Will to resolve these issues for you – your Will can do many things, but it can’t do that.
Want to know more about Wills and Estate Planning?
For more information regarding our estates and succession planning services, including will preparation, powers of attorney, enduring guardianship, obtaining probate or letters of administration, and managing deceased estates, please use the quick enquiry form found on this page or call our office on 02 9687 8885. Our experienced estates lawyers look forward to assisting you with your Wills, and your estate and succession planning requirements.
This website is proudly supported by Phang Legal. This article was posted by Ern Phang, director of Phang Legal.
Tags: legal, will, wills, Wills & ProbateRelated posts
Estate planning for the holiday season
Finding an excuse to discuss your Will over the holidays
An interesting observation of human nature is that there
is a noticeable increase in enquiries for Wills and estate planning services during the period leading up to the holiday season around Christmas and the New Year. Why is that?
Some clients explain that it’s the thought of traveling and the risks associated with traveling. Others just worry about what will happen to them while they’re away or far from home. Others consider it a time for reflection and family, and realise (shock) that their affairs aren’t in order and it’s time for them to do something about it. They know they should have done it before, but just never got around to it (see our previous poll on why people don’t have a Will).
Whatever the reason may be, it shouldn’t take something like the holiday season or a trip away from home to prompt people into thinking about their Will or their estate planning requirements. The possibility or probability of passing away without a Will is the same if you don’t have a Will regardless of whether you’re staying at home singing Christmas carols, sipping cocktails and relaxing on some tropical beach, or enjoying skiing on a mountain top resort. If you don’t have a Will, you don’t have a Will (see our previous post on intestacy).
When the family comes together to celebrate the holidays, maybe that’s an opportunity to discuss some of the key issues related to your Will or your estate planning requirements – after all, those discussions generally involve or affect those closest to us, right? Is it an appropriate topic of discussion? Maybe not, you’ll need to decide that – but consider what other opportunities will you have throughout the rest of the year to have these conversations. When do most people get together? Maybe it’s weddings, funerals, birthday parties or key festive dates. It’s not easy and it’s probably uncomfortable as well – but that’s life, and should be doing something about it because before you know it another year will have gone by.
What we do know for a fact is that once you’ve done it, you’ve prepared your Will and you’ve stored it away, there is a sense of relief and accomplishment. It’s done! That’s the reward for not procrastinating any more. Sure, you might still have to review your Will from time to time, but that’s another issue for another day. For today, it’s done.
Then you can enjoy the rest of your holiday and the (hopefully) many more to come.
Want to know more about Wills and Estate Planning?
For more information regarding our estates and succession planning services, including will preparation, powers of attorney, enduring guardianship, obtaining probate or letters of administration, and managing deceased estates, please use the quick enquiry form found on this page or call our office on 02 9687 8885. Our experienced estates lawyers look forward to assisting you with your Wills, and your estate and succession planning requirements.
This website is proudly supported by Phang Legal. This article was posted by Ern Phang, director of Phang Legal.
Tags: estate, estate planning, family, passing away, planning, review, will, wills, Wills & ProbateRelated posts
45% of Australians don’t have a Will!
Statistics for Wills in Australia
The NSW Trustee and Guardian (the replacement of the NSW Public Trustee) indicates that 45% of Australians don’t have a Will. Compared to the reasonable assumption that 100% of people die, that’s a glaring statistic showing an imbalance which then begs the question “why is there a section of the
Australian population who don’t have a Will?”
We’ve created this quick poll using some statements that we’ve heard over the years. So if you also don’t have a Will, let us know why.
On 19 August 2011, we’ll be running a free information session on Wills and estate planning at the Harris Park Community Centre as part of Will Awareness Day. Come along and you’ll find that writing a Will isn’t as difficult as it may seem, doesn’t cost as much as you thought, and doesn’t take a lot of time to do right (especially with professional advice and guidance).
A Will is probably one of the most important documents you’ll ever write in your life, and while you’ll never be around to regret not writing one, your family and loved ones that you leave behind will.
Want to know more about Wills and Estate Planning?
For more information regarding our estates and succession planning services, including will preparation, powers of attorney, enduring guardianship, obtaining probate or letters of administration, and managing deceased estates, please use the quick enquiry form found on this page or call our office on 02 9687 8885. Our experienced estates lawyers look forward to assisting you with your Wills, and your estate and succession planning requirements.
This website is proudly supported by Phang Legal. This article was posted by Ern Phang, director of Phang Legal.
Tags: buy, estate, estate planning, family, free, guardian, information, nsw trustee and guardian, planning, trustee, will, wills, Wills & ProbateRelated posts
Will Awareness Day 2011
On 19 August 2011, the Law Society of NSW will be promoting Will Awareness Day – an initiative focused on providing the community with free legal information on Wills and other estate planning matters, all in the name of increasing awareness of the importance of Wills.
Having a legally valid Will helps you to decide how your possessions will be distributed after you die, which can be an important consideration especially if you leave behind family, friends and other loved ones. If you do not have a Will, do not assume that your possessions will be distributed according to your wishes. Under current legislation, if you die without a Will, your estate will be divided according to a Government formula which may not reflect what you really want.
Choosing to write your will is one of the most important decisions you will ever make and it is important to seek proper legal advice so that your financial and personal circumstances are covered.
Phang Legal will be holding a free information session at the Harris Park Community Centre on 19 August 2011 at 10am. The Centre is located at 11 Albion Street, Harris Park NSW 2150. All are welcomed to attend.
Tags: deceased estate, estate, estate planning, information, law society, legal, planning, Trustee Duties, will, Will Drafting, wills, Wills & ProbateRelated posts
Law Week – Elders Law presentation (16 May 2011)
We are proud to announce that as part of Law Week, Phang Legal will be conducting an Elders Law presentation at the Auburn City Council Library on 16 May 2011 starting at 3.30pm. This is a free event and all are welcomed.
Topics will include the importance of a legally valid and current will, enduring power of attorney and enduring guardianships.
Our associate solicitor, Ms Natalie Lim will be chairing the presentation which is intended for a largely Chinese-speaking audience. The presentation will be attended by the members of the Auburn Asian Elderly Friendship Group and the Auburn Chinese Elderly Support Group.
Thank you to the Law Society and the Auburn City Council for organising this event and inviting us to present.
If you are interested in attending the Elders Law presentation, please contact Mrs Annetta Kucharska on (02) 9735 1331 or email her at annetta.kucharska@auburn.nsw.gov.au. We look forward to seeing you there.
Related posts:
Tags: Aged Care, auburn asian elderly friendship group, auburn chinese elderly support group, auburn city council, deceased estate, elders law, Enduring Guardianship, Enduring Power of Attorney, General Power of Attorney, law society, legal, Letters of Administration, phang, phang legal, power of attorney, Trustee Duties, will, Will Drafting, Wills & ProbateRelated posts
Quick Poll for Wills
So you’re reading this website and we’re guessing it’s probably because you’re interested in wills or estates and perhaps drafting your own will. Of course, it’s always advisable to at least obtain professional advice or even better, have lawyers like us prepare a will for you. So what does that mean at this stage, do you already have a will or don’t you? Statistical data taken across Australia tends to suggest that most Australians don’t have a will! Let’s see what we find. Answer our quick poll here.
Tags: estates, will, Will Drafting, wills, Wills & ProbateRelated posts
Wills for the Hills!
Promoting Estate Planning in the Hills
As part of our strategic review for 2011, we identified estate planning and Will preparation to be one of the key areas of need within the local community. Leaving aside all other areas of law, it is the area that affects us all and is relevant to all of us – no matter of who we are. The contemplation of death and what it means for those loved ones that we leave behind is not the normal morning topic of discussion, but it is an important, a necessary and a serious topic nonetheless.
Everyone deals with death differently and in their own way, but with our professional advice and guidance in estate planning and Will preparation we ensure that each client shares the same confidence and peace of mind knowing that their future plans are secured and that their family is protected.
What’s happening?
Over the next few months, we will be promoting our estate planning and Will preparation services throughout the Sydney’s Hills area and suburbs to the north west of the Sydney metropolitan area. These areas are experiencing a population growth as young families take advantage of new housing and land developments, improved transport and infrastructure, and the boom of suburban retail shopping and central business districts like the Parramatta CBD, the Norwest Business Park, and the Rouse Hill Town Centre.
Young couples, young couples with children or young families, generally need to give special attention to their estate planning and Will preparation requirements – especially if they have young children under the age of 18 years. For those families, caring for their children and providing or supporting for them in the event of their own misfortune or death will be the most important consideration. This is where we assist and add the most value.
As young people with our own families and children barely into their schooling years, we are very familiar with the challenges facing young families in managing to raise a family in the world today. We personally experience it, we live it – and so do our friends, our network of business connections, and our own families. We understand you.
What’s next?
Even if you have already prepared your own Will or had a Will prepared for you, it is the time to take a serious look at your life and to consider ‘what happens when I die?’ If you consider this issue in the context of your children, you will realise that the opportunity to make a difference for tomorrow actually starts today – and that by taking steps to put your plans into place, you are providing for them well into the future and even in a time when it is beyond your direct control. Take advantage of our current promotion on Will preparation, and we look forward to assisting you with your estate planning and Will preparation requirements.
Tags: business, deceased estate, estate, estate planning, family, peace of mind, planning, Probate, will, Will Drafting, will preparation, will-making, wills, Wills & Probate, Wills and ProbateRelated posts
Reduced Fee for Will Preparation and Review
Good Will Week
Between 12 September 2010 and 18 September 2010, the NSW Trustee & Guardian will be running Good Will Week – its annual education campaign to encourage adults in New South Wales to have an up-to-date and legal Will.
Not having a Will, or having a Will that is invalid or incomplete can result in intestacy and further complications for your family and for loved ones that you leave behind. Any complications in dealing with your estate are unnecessary, and can be easily avoided with a few simple steps – starting with having your Will prepared for you by our experienced estate lawyers. We invite you to take advantage of our special offer during Good Will Week and for the month of September 2010.
September Specials – Reduced Fee for Will Preparation and Review
By mentioning this advertisement, we will review your existing estate and succession plans and prepare or update your Will for $165* per person.
* From 1 July 2010, our professional legal fees for drafting Wills starts from $220 per person. This offer is only valid with this email and until 30 September 2010.
Call today for a FREE consultation and click on the links below to access our Will Information Packs (PDF):
- Phang Legal – Will Information Pack (Interactive)
- Phang Legal – Will Information Pack (Non-Interactive)
The quality of our professional and practical advice relies heavily on the quality of the information (correctness and currency) that you provide in the Will Information Pack. Each person who wishes to make a Will must complete a separate pack and return it to us.
If you have any questions regarding your Will or your estate or succession plans, please do not hesitate to contact our associate solicitor, Kenneth Ti on 02 9687 8885.
Recent Media Mentions
Phang Legal was recently featured in the Sunday Telegraph 12 September 2010 (page 78) and in the Monday Daily Telegraph 13 September 2010 (page 27). You can also view an online article.
To keep up to date, follow us on Twitter, Facebook, and Linkedin.
Want to know more about Wills and Estate Planning?
For more information regarding our estates and succession planning services, including will preparation, powers of attorney, enduring guardianship, obtaining probate or letters of administration, and managing deceased estates, please use the quick enquiry form found on this page or call our office on 02 9687 8885. Our experienced estates lawyers look forward to assisting you with your Wills, and your estate and succession planning requirements.
This website is proudly supported by Phang Legal. This article was posted by Ern Phang, director of Phang Legal.
Tags: deceased estate, estate, estate planning, family, good will week, guardian, information, legal, nsw trustee & guardian, will, Will Drafting, will preparation, wills, Wills & Probate