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No! This is not about tribal law. This is about people getting older and how the law applies to them. Australia's average age is increasing. The first baby boomers are already in their 60s. By 2051, a quarter of the population will be aged 65 or older. The law is developing in such a way as to circumvent and avoid older people being abused. This section hopes to address the needs of people getting older. In brief these needs are:
- Family maintenance agreements where older person lives with carers and older persons estate is utilised to pay for the care.
- Family care agreements (same as above except carers may not live with older person).
- Daily care agreements
- Medical treatment powers of attorney.
- Commercial powers of attorney.
- Guardianship powers of attorney.
- Estate plans and testamentary trusts.
- Aged care facility agreements.
- Money loan agreements between the older person and his or her children.
- Business succession agreements where opportunities are made for the older person to exit the business and allow his or her family members to acquire equity in the business.
- Procedures being put in place through wills and other documents to attempt to avoid hard earned money going into the wrong hands (the spouse of a divorced child, a spendthrift child or even a bankrupt child).