One of the comments many people make as they get older is "I want to make sure my affairs are in order", and they do the right thing by making a Will and an Enduring Power of Attorney.
But many may need one other important document which subtantially adds to their future security by clearly laying out their wishes and the purpose and ramifications of any agreements made with other family members or friends - a formal Family Agreement.
Living with your adult child? Co-purchasing property with a friend? Or building an extension or granny flat with family? These common arrangements often involve an older person exchanging their property or assets in return for housing and/or care as they age. They are also scenarios where matters can go drastically wrong!
A webinar by COMPASS - a project of Elder Abuse Awareness Australia - will look at formal Family Agreements and why you may need one. It features a panel of family and elder law experts and is moderated by award winning journalist, Philippa McDonald.
"Older people largely know about the value of making a Will and an Enduring Power of Attorney, but much fewer know about the value of creating a formal Family Agreement," said Russell Westacott, EAAA Co-Chair.
"Families often enter into significant financial and care arrangements with each other verbally, with no written documentation, or clear set of rules, and very little planning for worse case scenarios. This can leave older people vulnerable to abuse."
The free webinar will look at
The webinar panelists include:
The webinar will take place on Thursday, March 17, 12.30 - 1.30pm AEDT
Elder abuse can be psychological/emotional, physical, financial, neglect, social and sexual.
If you are experiencing abuse or believe you know someone who is being abused, call the National Elder Abuse Helpline: 1800-353-374 (free call). If you are in immediate physical danger call the Police on Triple ZERO.
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