Michael Jones has been married to Kathleen Jones for 42 years. They have raised 3 children together. They have previously put in place Wills which on the first death pass all assets to the survivor and then on the survivor’s death to ensure their children and grandchildren will be provided for.
Unfortunately, Kathleen has recently being diagnosed with Dementia. Michael has been advised by a close friend who has been through a similar experience, that he should consider updating his Will so that Kathleen will be cared for should anything happen to him.
He would like to do the following:
- He wishes to create a severance of joint tenancy to reflect that they own their house as tenants in common
- Update his Will to include an IPDI for Kathleen with the Trustees having power to manage the assets as Kathleen will not be able to manage the assets herself. Those assets ultimately are to pass to his children
- Create an LPA for Property and Affairs with his 3 children to act as attorneys
- Create an LPA for Health and Welfare
- He would also like to create an Advance Decision to include defining treatment preferences and name his nephew Robert Thornton as a practitioner to be involved in his medical care