WHAT ARE THE LEGAL PLANNING TOOLS YOU MIGHT CONSIDER WHEN PLANNING FOR THE FUTURE OF A PERSON WITH IMPAIRED COMPETENCY?
Planning for the future has legal, financial, social and familial dimensions to it.
Life is unpredictable and there is no way of knowing when your own circumstances may change so it is important to commence planning now.
There are a number of important steps you should consider taking when planning for the future of another person:
Where possible talk to the person themselves about their hopes and dreams for their future.
When there are other family members and support people involved in the life of the person it is important to include them in a discussion of the issues.
You may find it useful to draw up a list of issues you wish to discuss with family members and support people and call a meeting of all those people.
You will need to find a lawyer who you trust to listen to the desires of the person and any concerns that you may have.
You will need to review and update the plans you put in place regularly as the needs and desires of the person change.
Thinking through these issues and making decisions on behalf of another person can be difficult and often painful. Try to find support within your community when thinking through the issues.
Some of the legal planning tools that you might consider using to plan for the future include:
1. Wills
2. Powers of Attorney
3. Trusts
4. Special Disability Trusts
5. Memoranda of Wishes
