Australia has an ageing population. As people get older, they and their families often need to make important decisions about housing, finances, health care, decision-making authority and personal safety. These issues can become even more pressing during periods of uncertainty, including public health emergencies.
Key Questions to Consider
- Where will I live?
- Who will I live with?
- What will I live on?
- Who will make financial and health decisions for me if I am unable to make them myself?
- What can I do if I experience discrimination, physical abuse or financial abuse? Practical Steps for Planning Ahead
When considering these issues, an older person should generally review the following matters and put appropriate arrangements in place.
- Prepare, execute or update their Last Will and Testament so it reflects their current testamentary wishes.
- Consider appointing an Enduring Power of Attorney in favour of a trusted person, people or trustee organisation who can manage assets and make legal and financial decisions on their behalf if required.
- Consider appointing an Enduring Guardian in favour of a trusted person, people or trustee organisation who can make appropriate health care, medical and lifestyle decisions if the person becomes unable to do so because of injury, illness or disability.
- Prepare a non-legally binding Advance Care Plan, or preferably an Advance Care Directive, which is a legal document that records wishes, values and preferences about future care. This can help guide medical treatment decisions if the person cannot make those decisions themselves. A Do Not Resuscitate Order may also be considered where appropriate.
- Ensure the proper documents are in place so that any superannuation or investments pass to the intended beneficiaries, either directly or as part of the estate.
- Put a Granny Flat Agreement in place if a person or their spouse is considering a “cash for care” arrangement, moving into an adult child’s home, modifying a home to accommodate an adult child or their family, or selling a home to fund a granny flat on a child’s property.
- Investigate the benefits and drawbacks of reverse mortgage and equity release products, which may provide additional income beyond regular pension entitlements and help a person remain in their home.
- Research alternative accommodation options that may meet future needs, including retirement villages, residential aged care facilities, boarding houses, mobile or relocatable homes, manufactured homes and lifestyle resorts.
- Know your rights in relation to discrimination, physical abuse and financial abuse, including the agencies that can provide counselling, legal assistance and advocacy support.
If you or someone you know would like more information, help, or advice regarding elder law issues, please contact Gerard Kell & Co on 0412 4242 38 or email us at [email protected]
Disclaimer: The information on this page is provided for general information purposes only and does not constitute legal advice. For advice specific to your circumstances, please contact us directly or obtain independent legal advice from another qualified legal professional.
