Golden Years

At this stage in your life you have lived it and seen it all.  You may have bought and sold properties, made a Will or two and travelled here and there.  This is the time to ensure that you have everything in place to cater for unforeseen but not unimaginable changes in your life. In light of the changes to aged care funding in recent years it is vital to assess whether your current assets and potential inheritance from a spouse will help or hinder your liability for aged care costs.

In addition, family and close relationships may have changed.  Relationships with children may be strained or your children are experiencing difficulties in their marital relationships. Your spouse may have died and you have a new partner or companion; you and your new partner both have children.  How do you safeguard your assets for your children?  How do you ensure the people you want to leave your estate to receive it?  Who is an appropriate executor to deal with your complicated family situation?  These are all issues we can advise you about to ensure that you have peace of mind about your Will and estate.

It has become difficult for you to keep track of all the bills…
Your spouse who used to manage everything has passed away and you need help managing your investments and doing tax returns…
You have mobility issues and find it difficult to get to the bank…
Who can help you to manage your legal and financial affairs, or if circumstances changed manage them on your behalf?

You may have a family history of dementia or strokes, if you became unable to decide whether you could remain at home or what medical treatment you may need, who could decide these things for you?

These are just some of the examples of situations where a power of attorney can be useful.  Powers of attorney can cover three different areas – financial, guardianship and medical.  See Why do I need a Power of Attorney for more information.