With an ageing population, legal services dealing particularly with matters specific to elder law have become increasingly common. The reality is that we are living longer. Because of this, it is important that we have in place long term plans for us financially, legally and for our physical well-being from retirement and beyond. These decisions can impact on your quality of life, dignity and relationships with family and friends.
While no one likes to face their own mortality; as the gap between retirement and death continues to grow it becomes more and more important to ask the hard questions.
Have you given some thought and discussed a plan with your family about what would happen if you were unable to look after yourself anymore or if you lost the capacity to make financial and health decisions for yourself? There are documents such as your Will, Enduring Power of Attorney and Advance Health Directives that can ensure you are looked after the way you want to be. It’s very important to have a plan in place.
You’ve worked very hard for your superannuation and assets so ensuring that your estate goes to the people you want it to should be a priority. You may want to help your grand children or ensure your spouse is financially looked after as well as your children. Having a will drafted by an experienced estate lawyer who understands the complexities and the legislation affecting estates and has seen the things that can go wrong is a much better option than attempting to complete this important document through a will kit on your own.
Retirement villages these days are finding they have limited spaces so it’s important to get advice on your eligibility and to really understand the complexities of the individual village’s contracts. They can all be quite different and exit clauses can be very confusing to someone that doesn’t have contract experience of this kind.
There has also been a lot of media recently regarding abuse both physical and financial of older Australians. As much as it’s difficult to think about, what would you do if that happened to you?
An experienced elder law solicitor can assist with these often challenging decisions
Most of us don’t like to admit we’re getting older; but taking the time to plan both financially and legally for the future will make those retirement years so much more golden.
Contact SPM Law on 5440 4800 if you would like to discuss.
According to the Property Council of Australia, in 2014, there were more than 2300 retirement villages in Australia and around 184,000 seniors living in retirement villages. However that figure is expected to double with some predicting as many as 382,000 people will be living in retirement villages by 2025.View All News