Why you should get it in black & white and plan ahead
As the population ages, the risk of losing capacity through brain injury, dementia, stroke and frailty increase.
It is therefore important to put in place arrangements to ensure you are looked after medically, financially and have the lifestyle of your choosing. Using documents such as Powers of Attorney, Enduring Guardianship and Wills to plan ahead will ensure your wishes are respected.
Once these documents are prepared, you can rest assured that you have arrangements in place to ensure you will be looked after by the most appropriate and trustworthy people, should something happen to you that causes you to lose the capacity to make decisions on health and financial management for yourself.
The benefits of planning ahead include:
* you can remain in control of critical life decisions
* your rights and wishes will be respected and followed if they are documented
* while you still have capacity you can choose people you trust and who are knowledgeable to look after your affairs
* there is less stress for your family members if your affairs are organised and wishes are documented
* in addition, this could potentially save your family or those caring for you having to go to through the time-consuming application processes at a tribunal to obtain permission to manage your affairs
What are the documents you need to plan ahead?
Prepare a Will: A Will sets out who will receive your assets when you die.
Make a Power of Attorney: A Power of Attorney allows you to appoint someone to manage your financial affairs
Appoint an Enduring Guardian: An Enduring Guardian will make decisions relating to your health and lifestyle if you are unable to.
For more information, visit www.planningaheadtools.com.au or call 1300 887 529.