Estate Planning in Parramatta made simple and hassle-free.
At Phang Legal, we work closely with your accountant, tax advisor or financial planner to ensure that your estate planning strategies put you in the best position to achieve your individual goals. It is never too early to plan for the future. We provide a range of services collectively known as 'estate planning'. These services cover:
- Will preparation and drafting
- Probate and Administration of deceased estates
- Drafting Power of Attorney documents
- Drafting Advance Health Directives, and
- Drafting Enduring Guardianships.
Our experienced estate planning lawyers will help you prepare and protect your family and loved ones when the inevitable happens. Contact us and speak to Ern Phang to discuss your concerns, your future plans and your estate planning requirements. Our office is conveniently located in the Parramatta CBD and close to all public transport.
What is a Will?
A Will is a legal document that sets out your wishes for distributing or managing your assets after your death. In your Will you can appoint guardians for your children and set up testamentary trusts. It is important for anyone over the age of 18 years to consider having a Will prepared to ensure that their affairs can be properly looked after in the event of their untimely passing.
Phang Legal provides you with advice and recommendations while tailoring your Will to meet your specific circumstances and situation. Everyone is different, so ensuring that the Will is relevant to you is very important and could mean the difference to whether your wishes after your death are respected and followed - or not.
What is an Executor of a Will?
The executor of a Will is the person responsible for managing the deceased estate according to the Will or following the instructions in the Will. The executor must comply with various laws and rules that govern the administration of deceased estates, and it is important for them to have legal assistance to meet their various responsibilities.
Phang Legal assists executors in carrying out their duties and provides proactive legal support to ensure that executors meet their obligations according to the law. From applying for the Grant of Probate or Letters of Administration, through to managing or administering the deceased estate and finalising the distribution, our experienced estate planning lawyers will guide you during these times of uncertainty.
Why is an Enduring Guardianship important?
If you are concerned about your welfare when you are no longer able to care for yourself can be resolved by appointing an enduring guardian. You can authorise your enduring guardian to make decisions regarding your lifestyle and medical matters when you no longer have the mental capacity (ie, due to illness or accident) to make those decisions for yourself. The Enduring Guardianship requires legal advice and you should contact our office to speak to Ern Phang if you have any questions about appointing an enduring guardian.
Types of Power of Attorney
There are two kinds of power of attorney - general power of attorney and enduring power of attorney.
A general power of attorney is sufficient if you only want to appoint someone for a short period of time, or there is no intention for that person to have ongoing authority over your assets. If you lose mental capcity (ie, through illness or accident) the general power of attorney will no longer be valid.
If you want your power of attorney to be valid even if you lose mental capacity, you need to consider an enduring power of attorney. There are additional legal requirements for preparing an enduring power of attorney - and before proceeding, you should contact our experience estate planning lawyers to determine which power of attorney is most appropriate to you and your circumstances.
In all cases, if you want your attorney to be able to do things with your real estate in New South Wales, you must register the power of attorney with the Department of Lands.
International Power of Attorney
The power of attorney prepared in accordance with the Powers of Attorney Act 2003 (NSW) or other Australian law will generally only be accepted within Australia. If you wish to appoint someone to be your attorney in a country outside of Australia you should have the relevant document prepared by a suitably qualified person in the intended country.
Our notary public services frequently assist with executing, witnessing and notarising power of attorney documents used all over the world and our notary public fees are some of the lowest in Sydney.
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