Paperwork required when moving to an aged care home
We keep mentioning this because it is so important – time and paperwork is your enemy.
Everything you do when it comes to money requires detailed paperwork. You may think you have access to your partner’s bank accounts but you will need the latest forms and identities filled in and signed. If you haven’t done this in the past say 10 years, you may not be accepted by the bank or super fund or fund manager. To correct this can take weeks and longer.
Children may have to involve lawyers and GPs to get authority to access documents and accounts.
Searches of the title of the family home often brings up unexpected surprises that have to be researched and corrected.
Family members may be overseas or simply disagreeing with decisions – all of which can stall matters.
The most important document to get in place to cover property and money matters is an Enduring Power of Attorney. This document gives the power to make decisions and take actions in relation to finances, property and legal decisions should you lose ‘capacity’ to make these decisions yourself. More than one person can be appointed an Enduring Power of Attorney. (See Aged Care Homes tab, Section 2.3)
Note: An Enduring Power of Attorney does not give decision making power on health and lifestyle decisions).
The most important document to get in place to cover property and money matters is an Enduring Power of Attorney.
