Estate Planning Challenges: The Ageing of Australia’s Population

Thanks to modern health care, the ageing population of Australia is growing rapidly. According to the Australian Bureau of Statistics, the demographic of people aged 65 and older increased by 3.7 percent between 1993 and 2013.

These numbers are expected to increase more rapidly over the next decade. If you’re in fairly good health and able to care for yourself well into your golden years, this is great news.

However, no one knows when an illness or injury could strike, requiring expensive long-term care and accommodations. Not planning for the future while you’re still of sound mind and in good health could be disastrous for you and your loved ones—physically, emotionally and financially. This is why it is in your best interest to meet with an Adelaide estate planning lawyer at Genders & Partners as soon as possible.

Legal Documents

When you meet with our experts on estate planning in Adelaide, we will assist you to protect yourself, your family and your assets. In addition to preparing your Will, we will provide advice and assistance on Powers of Attorney, and Advance Care Directives so that your loved ones know who is in charge of making certain decisions for you should you become ill or unable to make decisions for yourself. This leaves no one guessing or arguing over your wishes.

Medical Care and Living Arrangements

Where you will live, who will take care of you and how you’ll pay for it all are three of the most important factors to consider when planning your retirement years. Your options for accommodations might include entering a retirement village or a residential aged care facility depending on your care needs. You may underestimate the amount of money you’ll need to cover your care and accommodations, but consider this: Roughly 332,000 Australians have Alzheimer’s disease or another form of dementia.

Experts predict that this number will increase by a third in the next decade. Moreover, this disease strikes one out of every 10 Australians over the age of 65. No one wants to think about slowly losing his or her memory and physical functioning, but dementia and other chronic health problems are a real possibility with dire consequences to both you and your loved ones if you don’t have a plan in place to obtain the medical care you need.

Superior Estate Planning in Adelaide

Your best bet for securing quality care as you age is to get your affairs in order now with our Adelaide specialist estate planning lawyer . To arrange your free telephone consultation, contact Genders & Partners today.

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