Is Silliness Restricted to the Young?

By Brian Herd, Partner at CRH Law, our Lead Legal Professionals at Heather Hill Pathways.

With age comes wisdom – right? Or, to put it more eloquently, your propensity for silliness is inversely proportional to your age – right?

Hmmm……

So none of us, at a mature stage in life, would do these sorts of things would we:

1. Delegate our decisions to our children.
2. Avoid decisions.
3. Marry a second time without a nuptial agreement;
   • Or move in with someone (including our children) without documenting the arrangement.
4. Make gifts to our children and not record them or change our Will as a result; or
   • Make loans to our children and not record them or change our Will as a result; OR
   • Not discuss or be sure on what basis we advanced money to our children; OR
   • Not be sure of the effect on our pension of doing these things.
5. Pay a Refundable Accommodation Deposit to an aged care facility on behalf of our second spouse without properly documenting it.
6. Fail to review or renew our superannuation binding death benefit nomination.
7. Borrow money from our children without documenting it.
8. Think we will definitely die at home.
9. Think, or may be even believe, you will never lose your marbles.
10. Think you will live forever.

Now that there has been a chorus of resounding NO’s! to this interrogation, just like you, I can sleep well.