Wills & Powers of Attorney in Elder Law. Get the advice you need from our Elder Care Lawyers.
It is very important to have in place a Will and Powers of Attorney as you get older
As Elder Law Lawyers we can simply and easily take you through all the steps to get the documents set up and signed. See our Wills & Powers of Attorney pages for more details.
Do I need to be capable of understanding and signing legal documents?
Whilst you have Capacity
Yes. It is important to have these documents made whilst you still have capacity. Once you lose capacity to understand, you will lose the right to make a Will or sign up Powers of Attorney.
Whilst you are alive
An Enduring Medical Power of Attorney & a Financial Power of Attorney should be signed so that your loved ones are able to make requests and decisions on your behalf if you become incapacitated.
Once you pass away
All adults need a Will, especially the elderly, to ensure that the assets built up over a lifetime are distributed after your death in accordance with your wishes. The law is quite clear. If you do not have a Will, when you die, your assets will be divided according to a strict government formula and not according to your wishes.
Important To Note
It is important to keep with your Will a list of all your assets and liabilities and advise your Executor where the list may be found eg:
- Bank Accounts
- Superannuation Policies
- Shares, Debentures, Stock, Units in Trusts
- Other Valuables such as motor vehicles, caravans, boats, coin collections, art works & jewelry.
See our section on Wills & Estate Planning
Retirement Villages & Aged Care Facilities in Elder Law
There are many issues to consider when deciding whether to purchase into a retirement village or enter an aged-care facility. There are many features of Retirement Villages that make them more complicated than traditional forms of property, and the range of legislation that may be relevant can be very broad.
You can ask our Elder Law Lawyers for Elder Care legal Advice on what are the benefits and risks of buying into a retirement village or aged care facility.
Legal Structures in Elder Law – Elder Law Planning
What are the main types of legal structures that underpin a retirement village or aged-care facility?
- Long-term lease
- long-term licence
- Strata title
- Community title
- Company title
- Unit trust
- Manufactured home
- Conventional lease structures
Any of these will be contained in an incredibly detailed legal document. It is essential to get sound advice from our Elder Law Lawyer who also has experience in Property Law to carefully examine the documentation in order to advise you of the terms and conditions.
What are some key issues to identify before entering into a retirement village contract?
- Type of title holding
- Stamp duty
- Service charges and other administration fees
- Refurbishment and capital replacement costs
- Security of tenure
- Operator default
- What is required by you when vacating the premises and are there any departure fees
- Capital gains and losses
- Credit risk
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