The moment you start working and accumulating assets, such as superannuation, savings, a car, or personal belongings, you have something worth protecting.
Why Estate Planning Matters at Any Age
No matter the size of your asset pool, having a well-structured estate plan ensures that your assets are safeguarded and that your loved ones face fewer challenges in the event of the unexpected.
At Little Estate Lawyers, we frequently assist families in administering estates, and a significant number of cases involve young people who have passed away suddenly and tragically. Proper planning helps alleviate the burden on those left behind.
What is Estate Planning?
Estate planning is the process of organising your affairs to:
- meet your current needs;
- protect you in case of mental incapacity; and
- ensure your assets are distributed according to your wishes in a tax-efficient manner.
Key Components of an estate plan
- A Will: This is a legal document that dictates how your assets will be distributed after your passing. Without a Will, state laws determine asset distribution, which may not align with your intentions. A Will can also name guardians for minor children.
- Enduring Power of Attorney (EPOA): This appoints a trusted person to manage your financial, personal, and health matters if you become incapacitated.
- Advance Health Directive (AHD): This document outlines your medical treatment preferences if you’re unable to communicate them yourself, relieving loved ones from making difficult decisions during stressful times.
“It’s Not a Priority Right Now” – Think Again
Whether you are just starting to build wealth or have already accumulated significant assets, taking the time to protect them is invaluable.
We understand that estate planning might not be at the top of your to-do list, which is why we make the process simple and convenient. Most of the steps can be completed via video consultations, with only the final signing requiring an in-person visit.
Planning for life’s uncertainties
Estate planning isn’t just about preparing for old age; it’s about preparing for the unexpected. No one anticipates accidents, serious illnesses, or unforeseen emergencies, but having a plan in place ensures your loved ones can manage your affairs efficiently during difficult times.
Let Little Estate Lawyers guide you
At Little Estate Lawyers, we recognise the importance of having a comprehensive estate plan – no matter your age. Whether you want to ensure your family is provided for, leave a legacy to a charity, or plan for business succession, our experienced team is here to assist you every step of the way.
We are committed to helping you document your wishes, providing you with peace of mind, and making the estate planning process as seamless as possible.
* The information above is general information only and does not constitute legal advice.