Written by APS Wills & Estates Principal Lawyer Philip Lambourne

According to Australian Broker, nearly half of Aussie homeowners don’t have a Will. Let’s face it, creating your Will isn’t usually considered an exciting project but it is one that will provide you with confidence in your future. Even if you are young or without many assets, creating a Will can give you peace of mind knowing that everything will be taken care of, when you pass away.

Even those who do have Will quite often do not have comprehensive estate plans, so whether you have a Will or are still in the process of getting one in place, we encourage you to think about what else you should consider other than your Will.

A Will is a legal document that outlines how your assets will be distributed when you pass away. However, a Will won’t necessarily deal with all issues relevant to you, and that’s why estate planning is important. An estate plan is the bigger picture of how you would like to manage your affairs both during and after your life and covers a number of important issues such as:

  • Enduring Power of Attorney, to appoint someone you trust to make financial, personal, and medical decisions on your behalf if you no longer have the capacity to make those decisions for yourself
  • Appointing a guardian for any dependants, should you pass away when another parent also passes
  • An Advance Care Directive to outline your wishes for your end-of-life care
  • Binding beneficiary nominations for your super and any life insurance held within your super fund
  • Beneficiary nominations for life insurance held outside your super fund
  • Management of any assets not owned personally such as assets in companies or trusts
  • Management of any businesses you may be involved in

Everyone has a unique set of circumstances. Your family dynamics, your assets, your superannuation set-up, and whether you own a business will impact what you need to include in your Will and estate plan.

If you are ready to get your affairs in order, get in touch with the team at APS Wills & Estates.

will isnt enough

Written by APS Wills & Estates Principal Lawyer Phillip Lambourne

Phil is a lawyer with over 35 years of experience in private practice and over 25 years of experience in the trusts and estate planning area. As Principal Lawyer with APS Wills & Estates, Phil provides advice and prepares documentation in the areas of Wills, Powers of Attorney, Probate and Estate Administration for clients across Australia. He also provides clients with conveyancing and property law, commercial law and state tax advice services. 

When Phil isn’t working, he enjoys spending time with family, reading new books, and watching new shows with some good scotch whisky, red wine and cheese. Phil also enjoys playing trombone in the Melbourne Lawyers Big Band!

Get in touch with Phil to discuss your Will.