This weeks article is provided by, Estate Planning lawyer, Alan Farrar.  B.A., LL.B. We hope you find this of interest.

As a nation, our life expectancy is longer than it has ever  been.

In 1970, the average life expectancy across men and women was 71 years. Fast forward to 2014 and our life expectancy is now 84 years.

We are living longer. But does our mental capacity endure for the same length of time? For some it does. For others, the onset of dementia or Alzheimer’s results in them losing their capacity to be able to manage their own affairs.

In this article we address self managed superannuation funds (“SMSFs”) in the context of how they can continue to operate and comply with the relevant law and regulations if one or more of the members of the fund loses his or her mental capacity. Continue reading SMSFs and Powers of Attorney →