• Angela Costin

Why bother having a Will, Power of Attorney or getting estate planning advice?

Many people have been telling you for years that you should have a Will, a Power of Attorney and get estate planning advice.

Sure, some people should, but you probably don’t need to. Here’s some reasons why;

• you don’t have any income, assets, superannuation, life insurance or interest in a trust or company and couldn’t care less about any future inheritance

• You have a great relationship with your parents and in-laws (who also get along well with each other) and never worry about who will make decisions for you or your children (in fact the thought of your parents or in-laws managing your money brings you a feeling of relief and comfort)

• If for some reason your estate is tied up, your parents will happily financially support your children

• You are confident in the approach your partner, parent or any close relative would take to your medical care in emergency situations

• You don’t plan on travelling so you will always be around to sign any document

• Your relatives thrive on paperwork and would appreciate the additional work if you were to die without a Will or having your affairs in order (and the uncertainty will not bother them);

• Your loved ones would enjoy the experience of making an application to VCAT should you lose capacity without having a Power of Attorney

• Guessing passwords is an enjoyable hobby of those around you

• If you own a business with someone else, your business partner won’t care who controls or owns your share of the business. They get along with everybody and want to have to consider their opinions

• Everyone knows everything about your finances and the one place where all your paperwork is neatly and safely kept

• You don’t feel you need to tell your Superannuation trustee your wishes, they have an algorithm and uniform policies for that

• You don’t plan to die soon

• If all else fails, you would be more than happy for lawyers and a judge to help

And at the end of the day, if you’re dead, who cares?

Well, maybe you should.

Don’t leave a headache for others.

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