What is an estate plan and why do you need one?
Why Everyone Needs an Estate Plan
Many people think estate planning is only for the wealthy, but the truth is, everyone needs an estate plan. It’s not just about money—it’s about making sure your loved ones are looked after and your wishes are followed if something happens to you.
What is Estate Planning?
Estate planning is the process of setting out instructions for what happens to your assets and responsibilities if you pass away or become unable to make decisions. Without a plan, your family may face unnecessary stress, legal complications, and financial difficulties.
Key Documents in an Estate Plan
1. Will
A will is a legal document that outlines who will receive your assets when you pass away. It also allows you to name a guardian for your children if they are under 18.
2. Enduring Power of Attorney
This document allows you to appoint someone to manage your financial affairs if you become unable to do so yourself due to illness or injury.
3. Enduring Guardianship
An enduring guardian is someone you choose to make personal and medical decisions for you if you can’t make them yourself.
4. Advance Care Directive
This outlines your wishes regarding medical treatment and end-of-life care so that doctors and loved ones understand your preferences.
Why Estate Planning is Important
Without an estate plan, the government decides how your assets are distributed, which may not align with your wishes. Your family may also face long legal battles and unexpected costs. A well-prepared estate plan ensures: ✔ Your loved ones are cared for.
✔ Your assets go to the right people.
✔ Your medical and financial decisions are handled the way you want.
Get Help with Your Estate Plan
Estate planning doesn’t have to be complicated, but it’s important to get it right. At Renee Roumanos Legal, we make the process simple and stress-free. Contact us today on 02 9054 1311 to protect your future and your family.
Don’t leave your loved ones guessing—plan ahead with Renee Roumanos Legal!
