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Estate Planning – think about more than your Will

Making your Will is an important part of estate planning but it’s also important to plan and document what you want to happen should you be incapacitated.  In particular, you should consider a Living Will / Advanced Health Directive and an Enduring Power of Guardianship.

Advanced Health Directive and Enduring Power of Guardianship

Australia’s ageing baby boomers and their demographic wealth are well known but what happens when medical treatment and care decisions need to be made in the event of incapacity. Medical incapacity can strike anyone at anytime, whether due to disease or accident, so  contingency medical & lifestyle planning might need to be considered.

“There are more than 330,000 Australians living with dementia. This number is expected to increase to more than 400,000 by 2030 & without a medical breakthrough, the number of people with dementia is expected to reach 900,000 by 2050.”

Each week, there are more than 1,700 new cases of dementia in Australia or approximately one person every 6 minutes and this is expected to grow to 7,400 new cases each week by 2050. There are also [approximately] 24,700 people in Australia with Younger Onset Dementia (a diagnosis of dementia under the age of 65; including people as young as 30) – (source: Alzheimers Australia)

A ‘Living Will’ / ‘Advanced Health Directive’ is a voluntary statement that sets out your wishes in advance, in relation to medical treatment, lifestyle & and future care decisions, in the event of incapacity. An ‘Enduring Power of Guardianship’ is a legal document that authorises another person to make important personal, lifestyle and treatment decisions on your behalf, should you ever become unable to do so for yourself.

If making a Will is something you have been”meaning to get round to” call us to help you organise your Will.

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What Everybody Should Know About Making a Will