Planning for the future: Taking care of your children

by Matrix Planning Solutions

Anyone who has young children should appoint a guardian to take care of them should you pass away prematurely.

You can do this by establishing an enduring guardianship. This enables you to appoint a substitute decision maker to make personal, health or lifestyle decisions in the event that you are unable to make your own decisions. The guardians’ role is to ensure that the children are adequately housed, clothed and educated.

An enduring guardian can only be appointed while you have capacity. Capacity means that you have the ability to make decisions for yourself. 

If you have not appointed an enduring guardian, anyone who has a genuine concern for your wellbeing can apply to a government tribunal to appoint a guardian.  The tribunal will hold a guardianship hearing and where possible appoint a family member or friend as a guardian.  This can be a stressful process for family members.

If there is no one suitable to be appointed as guardian or where there is significant conflict over who should be appointed as guardian, the tribunal can appoint a Public Guardian. The Public Guardian will then make decisions for you regarding matters such as accommodation, medical treatment and dental treatment.

Most people would prefer to choose their own decision-maker. By choosing your own decision maker, you can select someone who knows you well and who can take into account your thoughts and opinions, both past and present. 

This is an important part of your financial planning process.  Why not consult us and other appropriate professionals to ensure the future needs of you and your family are planned?

The advice is general in nature only and does not take into consideration your financial situation, goals and objectives. Please seek advice prior to acting on this information.