Legal Expenses Insurance (LEI)

Legal Expenses Insurance - A definition

Legal Expenses insurance is taken out by groups of individuals or companies as a precaution against future disputes and the necessary costs of resolving them.

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Did You Know

Most Australians die not having completed a legal will.
Around 5 out of 10 people that have Wills need to update them.
Most people who have made a Will cannot immediately lay their hands on it.
An Enduring Guardian is appointed to make health and lifestyle decisions on your behalf should you be unable to do so.
You should grant Power of Attorney to someone you trust to ensure that sound financial decisions are made for you.
You can appoint one or more persons as Enduring Guardians.
Your Enduring Guardian should be someone you trust to make decisions in your best interests.
You should arrange to have your Will and appointment forms for Power of Attorney and Enduring Guardian stored safely on your behalf.
The law relating to Power of Attorney and Enduring Guardianship is different in each state. If you move interstate you should make new appointments using the forms for your new state.
After creating a Will, you should appoint an Enduring Power of Attorney to ensure that your affairs can be managed without the intervention of the courts or government agencies.
Appointing a Power of Attorney is a way of protecting yours and your family's financial position.
Unless you create and maintain a binding statement that reflects your wishes, your Superannuation fund is typically responsible for determining how your super is distributed should you die before you retire.
You need to create a new Will should you get married or divorced or have children.