Overview to Estate Planning

Plan for the Future

I believe in the saying: Succeed at planning and plan to succeed. I also keep in mind "The Divine laughs when plans are made."

During my nursing career I came across many occasions where the lack of estate planning caused heartache and dissension in families. I also have come across the thinking that by doing these actions that the person is planning their death - not so with me. I am trying to minimise the stress for my son having to consider my wishes for the distribution of my estate on my death, which hopefully will come at a far future time.

My understanding of estate planning is having the following documents in place in a legal and documented fashion:

• Will drafted and signed in conjunction with a Lawyer. My Lawyer and I both have a copy of this document. This document covers all types of clauses and conditions as well as those that focus on property and financial considerations. https://www.qld.gov.au/law/births-deaths-marriages-and-divorces/deaths-wills-and-probate/wills 

          https://www.doyourownwill.com/

          https://www.lawdepot.com/au/last-will-and-testament-au/#.XgVniknV6Ag

• Enduring Power of Attorney - this document is required more and more due to the increased incidence of mental incapacity from disease and or trauma. I choose my Lawyer to hold this service as I think that my family will have enough to cope with. As well as my Lawyer, I also have a copy of this document.

          https://www.qld.gov.au/law/legal-mediation-and-justice-of-the-peace/power-of-attorney-and-making-decisions-for-others/power-of-attorney

          https://www.publications.qld.gov.au/dataset/power-of-attorney-and-advance-health-directive/resource/94c27605-28ad-4e71-846b-04b0d66ef3b8

          https://www.publications.qld.gov.au/dataset/power-of-attorney-and-advance-health-directive/resource/d33b1e89-0b07-4a14-a4d8-05ff4f610b25

• Advanced Health Directive Health - make sure it is read and signed by family members that will have input into your final moments. You may be surprised who will think they have a right. A couple of copies are necessary - one for you to keep close at home; one for each family member who signed; one for the General Medical Practitioner; and I gave one to the Lawyer.

         https://www.publications.qld.gov.au/dataset/power-of-attorney-and-advance-health-directive/resource/6a3af073-cdba-4b82-8de7-eabe65950c24

• Funeral Plan & Payment - I have chosen a local Funeral Director who has conducted the services for many of my family over the years. There is a template on this website https://afda.org.au/preplanning/; that is easy to complete and provides direction for wishes. My Lawyer and I have a copy of this plan as well as the Funeral Director. In recent years, it has been broadcast the cost of having a funeral service, and to pay for this I have an insurance policy that I took out when I was 19 years old. In my will and with instruction to the Insurance provider I have given direction for payment of the funeral service and any remaining monies.

I undertook to do these things in conjunction with a Lawyer and my Financial Planner - I am a single woman who has to financially support myself now and in regard to my health and demise. I also have only one child and do not want to burden him with my responsibilities; or in the tragic event he should pre decease me, other relatives who may be called upon to execute my estate.

The links above are for information and resources.