Ageing is challenging, not only for the individual but also for the individual’s family. We can help you navigate the challenges.
I am acting as an attorney. What are my duties?
Some of your key duties as an attorney include:
- to keep very clear and accurate records of the manner in which you have managed the principal’s affairs;
- to keep your property separate from the principal’s property;
- to avoid any transaction where your interests and the interests of the principal may conflict;
- to not gain advantage from your position.
If you breach your duties, you may be penalised or ordered to pay compensation to the principal. You should seek advice about your role to ensure that you are fully informed about your powers, duties and rights, so that mistakes are not inadvertently made.
My loved one has lost capacity but doesn’t have an enduring power of attorney. What should I do?
An enduring power of attorney document is the key to a person’s life plan. If the person loses capacity without having made an enduring power of attorney document, it can create a situation where no one is technically authorised to manage the person’s financial affairs.
Generally, and particularly if there is no indication that the person’s cognitive function will improve, an application to the Queensland Civil and Administrative Tribunal (QCAT) will be required to appoint an administrator (to manage financial matters) and possibly a guardian (to manage personal and health matters).
We can guide you through this process.
I would like to move in with my child. Are there any legal issues to address?
Lots of families consider the option of a ‘granny flat’ arrangement when an ageing parent’s needs advance to the extent that the parent cannot live independently, but does not wish to moved into aged care.
Sometimes this involves a financial contribution by the elderly parent to the child with whom they intend to live. Perhaps the payment is to reduce the mortgage of the child or to finance necessary improvements to the residence.
This arrangement, if not undertaken properly can leave both the child and the elderly parent exposed to risk and the breakdown of a once happy and loving relationship.
Contact us to discuss these risks and how to avoid them.