E16 Estate Planning Part 2: Powers of Attorney, Enduring Guardianship and Binding Death Nominations

09/22/23 • 14 min

Midlife Money Matters

You have probably heard these terms and maybe wondered ... what do they actually mean? and why would I get one?

Powers of Attorney

Enduring Guardianship

Binding Death Nominations

In this episode - less than 15 minutes - we cover the basics of these 3 important aspects of effective Estate Planning

Who would you appoint?

What would they making decisions about?

and the all important - what happens if something happens and you don't have these instructions in place ??

We don't specifically talk about Wills in this episode - we covered Wills in Episode 14

If you have any questions please email us at [email protected]

And we would love if you would please leave us a review wherever you listen to your podcasts

Financial Disclaimer:

We need to make it super clear though that we will NOT be providing personal financial advice to listeners, but just providing general advice on these topics based on our knowledge and experience.

You have probably heard these terms and maybe wondered ... what do they actually mean? and why would I get one?

Powers of Attorney

Enduring Guardianship

Binding Death Nominations

In this episode - less than 15 minutes - we cover the basics of these 3 important aspects of effective Estate Planning

Who would you appoint?

What would they making decisions about?

and the all important - what happens if something happens and you don't have these instructions in place ??

We don't specifically talk about Wills in this episode - we covered Wills in Episode 14

If you have any questions please email us at [email protected]

And we would love if you would please leave us a review wherever you listen to your podcasts

Financial Disclaimer:

We need to make it super clear though that we will NOT be providing personal financial advice to listeners, but just providing general advice on these topics based on our knowledge and experience.

Previous Episode

E15 Issues and Costs of a Move into an Age Care Facility

Part 3 of our series about Retirement Living options

What are the Issues and Costs of a Move into an Age Care Facility

We understand and acknowledge this is or can be an emotional topic. Both Jacqui and Ingrid have been through this with their parents - so we understand completely

You may have read and heard about residential age care in the media.

Most people are quite resistant to going into care.

However there are a lot of really good age care homes in Australia with very caring dedicated staff.

If people are on their own at home and not managing they are often not getting the correct medical care, likely not eating properly or maybe not looking after themselves as well as they had been when they were younger.

Older people are also very susceptible to having a fall or a medical event and no one being notified to get them help.

We talk about: How do you find a suitable age care facility?

and

What are the fees involved? Jacqui explains:

There are 3 different fees payable, sometimes 4 as some facilities have an extra services fee for things like wine with dinner, better meals, streaming services etc.

In this episode we give an overview of the 3 main fees and how they are calculated

This is an important episode if you are in a situation where you have a loved one who is reaching the stage of considering Aged Care.

We understand and acknowledge this is an emotional topic. Both Jacqui and Ingrid have been through this with their parents

Access My Aged Care - click here

Financial Disclaimer:

We need to make it super clear though that we will NOT be providing personal financial advice to listeners, but just providing general advice on these topics based on our knowledge and experience.

Next Episode

E17 The end of this Series - Thanks for being with us

When Jacqui and Ingrid were planning this series Midlife Money Matters, we knew we wanted to keep it simple and cover the basics as much as we could

Jacqui realised that there is NO podcast for older women in Australia and we set out to fix that!!

We are really pleased with your response to this series of money episodes and we thank you for all your emails and your reviews

In this the final episode for this series we revisit some of the key topics we have covered

Paying attention to your Superannuation is critical - start with episode 4

Estate planning - 70% of women in Australia do not have effective estate planning instructions in place - check episodes 14 and 16

Knowing how much income you need every year to live on is extremely important - and best not to guess this amount. Episode 3 helps you calculate the amount you are spending each year

We have thoroughly enjoyed putting these episodes together and we truly believe that this information will make a difference and will continue helping women make informed decisions about money in their lives as they plan for and think about retirement.

Oh, and we have heard that some men are finding the information very helpful as well

We'll be checking those emails so if you have any questions please email us at [email protected]

And we would love if you would please leave us a review wherever you listen to your podcasts

Financial Disclaimer:

We need to make it super clear though that we will NOT be providing personal financial advice to listeners, but just providing general advice on these topics based on our knowledge and experience.