How can I make everything simple for my family when I am gone?
One thing that we see time and time again with many estate administration enquiries is family members with little to no idea where to start when it comes to collecting information about their loved one’s assets and any liabilities. Often there is very little paperwork kept, or so much paper lying around it is simply overwhelming.
So what can you do now to give them a helping hand, without handing over all your sensitive personal information?
Have a current last Will and EPOA in place early
By having a current Will and Enduring Power of Attorney (EPOA) in place at every stage of your life, you can delegate the role of looking after your affairs to the people you believe will best fit that job description.
Keep important documents together somewhere safe
This could be in a locked cabinet in your home, with your bank or even in a (free) safe custody facility provided by many law firms who prepare your estate planning documents, including Turner Freeman. Almost as important as keeping the documents safe, is letting someone know where that safe place is! You may tell your nominated executor, trusted friend or even your lawyer. Just make sure someone knows where to find them.
Store your sensitive account information and passwords, etc
You can create an encrypted document with information you would prefer not to be available to family and/or friends until after your passing. The password to unlock this document can be given to your solicitor and kept with your will if preferred.
If you are not one to be naturally organised
Seek advice from an experienced lawyer for estate planning services. We invite you to take advantage of our free Estate Information packs, which upon request can be mailed to you. As part of our estate planning service our experienced team obtains details of your banking institutions, insurance providers and lots of other basic information that can act as a starting point for your family when the time comes.
Turner Freeman Lawyers – Wills & Estates specialists
To request an Estate Information pack be mailed to you, or to find out more about our estate administration services, please do not hesitate to contact Turner Freeman Lawyers Wills and Estates Team on (07) 3025 9000.
Our Queensland offices are in Brisbane, Logan, North Lakes, Ipswich, Toowoomba, Gold Coast, Sunshine Coast and Cairns.