What happens if your mind fails?
30 Jul 2014
96 month(s) ago
Many DIY super trustees are approaching a dangerous age in relation to mental health. There is a need to act ahead of time.
What happens if the mental health of a self managed super truestee starts to fail? It is one area where self managed super can be a real problem. The determined self sufficiency of SMSF trustees can in this area be a real problem, in a weay that is not the case with industry funds or retail funds.
It was addressed at the SPAA conference with a paper prepared by Alzheimer's Australia. It should be required reading for anyone who is a trustee of a DIY super fund who is approaching the danger age:
... Enduring Power of Attorney.
Factors such as these should be watched: