Wills and Guardianships: A Clear Guide for Everyone

Planning ahead is one of the most important things you can do for your family and your future. Understanding your options around wills and guardianships helps ensure your wishes are carried out – clearly and confidently.

1. Simple (Attested) Will

A straightforward legal document that outlines how your assets should be distributed and names an executor to handle your estate.

2. Testamentary Trust Will

Includes a trust that manages assets for specific beneficiaries – commonly used to protect young children or to control staged distributions.

3. Joint or Mirror Wills

Often used by couples, these wills typically leave everything to each other and then to agreed beneficiaries. They are aligned but may limit future changes once one partner passes away.

4. Living Will (Advance Care Directive)

This sets out your medical treatment preferences if you become unable to communicate them, and may include appointing someone to make decisions on your behalf.

5. Holographic & Oral Wills

• Holographic wills are handwritten and may not be legally valid depending on the jurisdiction.
• Oral (Nuncupative) wills are spoken instructions and are rarely accepted as formal legal documents.

Guardianship & Power of Attorney

• A Power of Attorney lets you appoint someone to manage your finances or decisions if you’re unable to.
• Guardianship comes into play if no prior legal arrangements exist. A court may then appoint someone to make decisions for you or your dependents.

Why This Matters

• Ensures your wishes are respected.
• Helps avoid unnecessary legal disputes.
• Provides clarity for your loved ones during difficult times.

Take Action Now

Making plans today protects the people and assets that matter most. Speak with the experts at Oreana Private Wealth for tailored advice on wills, guardianships, and lasting powers of attorney.

Get in touch with our team today.