I am going overseas. Do I need a Power of Attorney?

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Q. I am going overseas and somebody told me that I might need a Power of Attorney. What do you think?

Josie’s answer: There are different types of Powers of Attorney, and in this case, note that I am NOT discussing Enduring or Irrevocable Powers of Attorney.

The main reason they are used is to allow a legally capable individual to share his/her legal rights with another person in circumstances where that individual may not be available to exercise those rights himself/herself.

As you stated you will be going overseas, the tyranny of distance makes it difficult to sign documents.

For example, you might want to give someone an authority to access your bank account whilst you are away.

Obviously you need to be very careful. They should only be given to some who you trust and you must have confidence powers will not be abused. Read more

What happens If I die without a will?

Q. Hi Josie. I turned on the news after work today and it was one tragedy after another….which got me thinking, if I die today, what will happen if I don’t have a will in place?

Josie’s Answer – You’re right about the news….which is why I don’t really mind if I miss it ever now and then.

To your question, It is recommended that everyone has a will, even if you think you have no money.

You might have some in your super fund that you have forgotten about. If a person dies without leaving a will they are said to die intestate and how it is divided up depends on where you live. Read more

Who Controls My Super When I Die?

Q. I heard that I can’t control who gets my Super when I die. Is this true?

Josie’s Answer - Well done. You are on the ball. Yes, it is true that you can’t control who gets your super when you die.

It can be ultimately determined by the Trustee of your super fund (some stranger who has never met you!) If you have retail superannuation fund e.g. AMP, MLC etc or an industry fund (not a self managed super fund) it can be challenged in the Superannuation Complaints Tribunal (SCT). Read more

I have a Question about “Wills and Separation”

Q. I am separated and wondering if my will is automatically revoked?

Josie’s Answer - No. However, the rules vary between each State.

We recommend you seek specialist legal advice. Wills should be reviewed every 3-5 years or whenever a major life event occurs e.g. separation, birth of a child. Read more