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.

Estate Planning Documents You Need to Update After Separation or Divorce in Australia

Estate Planning Documents You Need to Update After Separation or Divorce in Australia

Estate Planning Documents You Need to Update 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.

Other Documents in Addition to Your Will

  1. After separating, you should create a new Will. You should also review your powers of attorney, advance directives, trusts, proxy, delegation, etc. You may well need to formally revoke these important legal documents, so that your ‘ex’ cannot continue to control aspects of your life. However to be valid, these ‘revocation’ documents must be communicated to the individuals whom you had previously appointed, so these are not as confidential as the Will.

what-happens-if-you-die-without-a-valid-will-after-separation-or-divorce-in-australia

What Happens if You Die Without a Valid Will After Separation or Divorce in Australia

what-happens-if-you-die-without-a-valid-will-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.

Intestacy

  1. If you do not write a Will, the Government has already written one for you – but you might not like what it says.
  2. When you die without a valid Will, that is called ‘intestacy’. The law of the State where die will determine who gets what. Be careful. Not only does this law change from place to place, it also changes from time to time.
  3. In certain cases your assets might even go to the Government itself!

estate-planning-caring-for-elderly-parents

Estate Planning – Caring for Elderly Parents

estate-planning-caring-for-elderly-parents

Since 1900, life expectancy for Australians has increased by over 30 years. The average life expectancy of a newborn girl used to be 51 years. Now it is 84 years. But how do we care for our elderly relatives once they begin to lose the ability to care for themselves?

Over the past 125 years there have been massive changes in our health and lifestyle. What Australians now die of, and the age at which they die, is very different to what it used to be. Up until 1932, infectious and parasitic diseases caused at least 10% of all deaths each year, with death rates from these diseases highest among the very young and very old. Improvements in living conditions, such as better water supplies, sewerage systems, food quality and health education, have led to overall lower death rates and longer life expectancy at all ages.