Now is the time to make a plan

Individuals are urged to protect their family’s financial future

EACH year, around 20 per cent of Australians die ‘intestate’, which means without a valid will. Ensuring one’s financial affairs are in order, including a will, enduring power of attorney and advanced health directive, ensures peace of mind for individuals and their families, in the event of injury, accident or death.

“Having a valid Will that reflects your current wishes not only reduces the burden on your loved ones, but it can also reduce family conflict and delays in settling your estate,” The Public Trustee of Queensland and CEO, Samay Zhouand said, recommending all Australians over 18 get their affairs in order.

“As people come in and out of your life, your wishes may change.

“At the Public Trustee, we see many cases where a person dies without a valid Will and their estate is passed on, under the laws of intestacy, to a beneficiary who the deceased person may not have chosen.”

To ensure individuals and their families are protecting their financial future, it’s important to plan ahead, with an enduring power of attorney allowing individuals to appoint someone they trust to make decisions for them, should one lose capacity to manage their own affairs.

“Losing capacity does not just happen to people who are ageing,” Mr Zhouand said.

“It can happen at any time and it may be temporary or permanent.”

With an aim to empower Queenslanders to make informed decisions and exercise selfdetermination regarding advance life planning, Mr Zhouand reinforced the importance of planning for the future, no matter how uncertain.

“We recommend everybody seeks professional advice to make an informed decision about their individual circumstances,” he said.

“This can be done through a local solicitor, a legal firm specialising in succession law or elder law, or the Public Trustee.”

Mr Zhouand said an advanced health directive was also a vital document to maintain.

“At some point in the future, you may be unable to make decisions about your health care, even temporarily,” he said.

“This might be due to an accident, dementia, a stroke or a mental illness.

“An advance health directive allows you to make your wishes known, and give health professionals direction about the treatment you want.

“Making sure your wishes are

Making sure your wishes are known ensures your estate is distributed the way you choose, and protects and supports the people you love

SAMAY ZHOUAND

known ensures your estate is distributed the way you choose, and protects and supports the people you love.”