Legal Issues in Retirement
There are a host of legal issues that arise in retirement, and for the most part they are not matters that anyone approaches with enthusiasm, but they nevertheless must be addressed properly for the benefit of both yourself and your family. These matters include wills and estate planning, powers of attorney and family financial arrangements.
Our general view is that, unless your affairs are extraordinarily simple, you should seek the advice of a solicitor when drawing up or reviewing any legal agreements. Seeking to make savings by avoiding legal fees at this stage is often a very poor strategy and risks significantly higher fees when a poorly drawn up will or other legal agreement is challenged - or if you die intestate. We cover this elsewhere in more detail but a comparatively large number of wills are (successfully) challenged, with all that says for family relationships going forward, and this is an area that obviously deserves proper and ongoing attention if you are not to do your family a disservice, and your estate is to be distributed in the way you intend.
Note that general advice in this area is complicated by the fact that much of the law involved is State, rather than Federally, based - so there are often significant differences in both the law and its application between states and territories.