estate-planning-tips-for-caring-for-the-kids-after-separation-or-divorce-in-australia

Estate Planning Tips For Caring for the Kids After Separation or Divorce in Australia

estate-planning-tips-for-caring-for-the-kids-after-separation-or-divorce-in-australia

When you are going through a separation, you need to update your estate planning documents to protect yourself, your children & family and your assets. Here are some important matters to consider after a relationship breakup.

Who Looks After Your Kids if You Cannot

  1. There may come a time when an unmarried, separated or divorced parent is unable, owing to physical or mental incapacity, to take care of his or her minor children. If a parent dies, the minor children will need a guardian. In these circumstances, those caring for the children will need direction—as will the Courts. By writing and executing a Will that includes instructions on guardianship, a parent may select someone with the legal authority to act for minor children and assume control over the assets of the children.

The 7 Deadly Sins of DIY Wills

The 7 Deadly Sins of DIY Wills

Trying to DIY the most important legal document in your life is a bad idea. This is a specialised area of law, and when you don’t know what you’re doing, it is very easy to make critical errors trying to do this yourself. Any mistakes you make won’t become apparent until you die, and it’s too late for you to fix them, so it will be your family who has the stress and cost of dealing with it all.

Here are 7 of the most common errors people make with DIY Wills:

  1. No Advice. While DIY Will-kits and online services might provide you with a document that looks like a Will, appearances can be deceptive.       What you are paying a lawyer for is the advice they provide you along with the Will. It is illegal for anyone other than a licensed lawyer to provide legal advice for a fee, whether that means answering questions or making planning suggestions for how to accomplish goals. So the companies that offer DIY Wills or kits or online documents are always careful to tell you that they are not giving you legal advice, and they ALWAYS recommend that you consult a lawyer if you have questions.