What If? Thinking about Estate Planning during the Pandemic

By | August 28th, 2020|

In these uncertain times of the COVID 19 global pandemic, many people are thinking about seeking the services of an Estate Planning Lawyer to draft or update their estate documents. These include a Will, Power of Attorney and Enduring Guardian. A Will dictates what will happen to the will makers estate in the event of their death. A Power of Attorney and Enduring Guardian document appoints a trusted person to make decisions in relation to a person’s finances and health and well being in the event that they lose the capacity to make their own decisions in relation to these issues.

The risks associated with the global pandemic is a reminder to many that turning your mind to your estate planning documents to ensure they are up to date and in place is more important than ever.

Will makers must consider a number of issues when updating their Will, particularly in relation to specific assets. The pandemic has seen in some cases, a considerable reduction in the value of real estate and stocks and shares.  The will maker should consider if their current Will provides for all beneficiaries in the way they intended in terms of the value of bequests.

If your Will does not provide appropriately for your children, for example, the risk is that children can make an application to the Court for further and better provision, creating conflict and expense for family members. If your life circumstances have recently altered, such as in divorce, marriage or remarriage, your Will may no longer be valid and requires an update.

At Tiyce & Lawyers we can assist you with advice and draft your estate documents complying with social distancing requirements. We will take your instructions over the telephone or email. We can even talk you through the process of executing your Will with the appropriate witnesses electronically.

Contact us for an appointment today.

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Book an initial consultation or call us: 1300 084 923

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