The implications of COVID-19 are vast and far-reaching. This pandemic has the potential to cripple the economy and health system. Now, more than ever, is the time to consider whether you have adequate wills and estate plans in place.
By ensuring that your wills and estate plans are up to date, you can rest easy and take comfort in the fact that your wishes will be documented and adhered to in the future.
Estate planning is not merely about having a Will in place. It involves carefully considering your testamentary intentions as well as your familial or close personal relationships. This will help to protect your loved ones in the future and relieve them from the stress and worry of potential financial and legal issues, which could arise if you do not have adequate estate plans in place.
What is a Will?
A Will is a legal document which sets out your wishes about how you would like your estate to be divided after you pass away.
If you do not have a Will, then your estate will be divided according to the rules set out by the legislation in the state or territory in which you live. Therefore, if you would like to have a say about how your estate is divided when you pass away, you should consider making a Will before it is too late.
Apart from making a Will, you should also consider the need for appointing guardians for any minor children, enduring guardians and powers of attorney.
During times of uncertainty, such as the present time, we recommend that you act now to ensure you have wills and estate plans in place.
At de Groots wills and estate lawyers, we have a team of experienced professionals who are able to assist you with your wills and estate planning needs. If you have any questions about wills or your estate plans, please do not hesitate to contact our team on (02) 9101 7000. We are able to have a free initial consultation with you about your wills and estate plans. This can help to alleviate your concerns during this time. For more information about our services, or to get started online, visit our website.