GRIFFIN ONLINE: June 25th 2008

FAMILY AGREEMENTS

There is a growing trend in the community generally and among our clients for older members of families to be cared for by their children or others rather than going into retirement villages or nursing homes.

This will continue in increasing numbers in the future because the demand for retirement village and nursing home places will greatly exceed supply forcing the price of entry beyond the financial capacity of many older people.

A number of our clients have instructed us to prepare “Family Agreements” which provide for –

• The financial arrangements between the person being cared for and the people providing the care.
• The type and range of care to be provided and how it is to be provided.
  
• What happens if the relationship breaks down or if one or more parties want to end the relationship?

These agreements are being approved and signed off by other family members. This prevents disputes between family members when the care finishes or the person who is being cared for dies.

A Family Agreement is a far better option than a family dispute and the potential litigation which can arise.

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