Friday, October 24, 2014

What is an AEG & a ePOA?

Appointment of Enduring Guardian (AEG) is for health and lifestyle decisions should you totally or partially lose capacity.
Ask yourself: who would you trust to make decisions such as this on your behalf?
Should it be more than one person?
If so, would both have to agree?

Enduring Power of Attorney (ePOA) is for financial and business decisions should you totally or partially lose capacity.
Ask yourself: who would you trust to make those types of decisions.
Plus when would you want the power to start? Immediately or when a doctor considers you incapable of making decisions for yourself?

Tuesday, September 16, 2014

My Aged Care

The My Aged Care website has been established by the Australian Government to help you navigate the aged care system.
So if you need help yourself, or help caring for a friend or family member this is where to start:
myagedcare.gov.au/what-help-can-i-get

For most people, living independently in your own home is what you want. Sometimes a bit of help is needed:
myagedcare.gov.au/help-home

From time to time carers may need some extra help and support:
myagedcare.gov.au/caring-someone

Search is easy; just put your postcode into the form on this page:
myagedcare.gov.au/service-finders

In 2014 the Australian Government is implementing a $3.7 billion package of aged care reforms.
Australia has a growing population of older people and they are challenging the current aged care system.

Monday, March 3, 2014

New prescribed Power of Attorney forms in NSW

As of 1 March 2014, use of the new form to create an enduring power of attorney will be mandatory.

The LPI will only accept enduring powers of attorney signed on or after 1 March 2014 if they are on the new form.

lpi.nsw.gov.au/../PoA_Fact_Sheet.pdf
Note:
Attorneys who are appointed jointly and severally (i.e. together or individually) are able to act and make decisions independently of each other. However, you can specify that a simple majority (if you appoint 3 or more attorneys) must agree before they can act.

Wednesday, February 12, 2014

An electronic life & death

If you live a connected life then, when contemplating a will, think about:
  • naming a digital heir
  • keeping important records where they can be found
  • contacting people about your death.
If you live a life that uses a lot of email then you may have to leave your passwords where your executor can find it.
They may need to access your inbox (or contacts list) to let your friends know that you've died. If the email account is a free one then this may have to happen urgently before the account is deleted.
smh.com.au/.../what-happens-to-your-emails-when-you-die

Keeping important records where they can be found in case of your mental decline or after you are gone.
That once meant storing papers in a safe or a file cabinet at home, in a safe-deposit box or with a trusted adviser. Even if the record keeping was spotty, there was a paper trail, starting with bills and statements that showed up in the mail.
But that trail has become harder to follow as more people manage their finances online.
nytimes.com/../your-money/estate-planning/

Things are changing, Facebook is contemplating the problems.
theguardian.com/technology/2015/feb/12/facebook-legacy-contact-can-take-over-your-account-when-you-die
The new option for posthumous care of a Facebook account highlights an important issue of what happens to your digital possessions and persona when you die.

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