Online training replay:
Download - Presentation Slides
On Thursday 22 February 2024, Russell Kennedy hosted an online training session covering the role of legal personal representatives and residents’ payments in retirement villages. This session was aimed at retirement village managers, finance and operations managers working in the retirement living sector in NSW & Victoria.
The training helps you understand the role of substitute decision-makers/representatives and breaks down the terminology. It also provides you with an understanding of risks to consider when making exit payments and who you should be taking instructions from.
In this session, we presented the following:
- The roles of attorneys, guardians, medical treatment decision makers and executors
- Types and forms of powers of attorney
- Payments of exit entitlements -
- When do operators need to pay residents their exit entitlements under the Retirement Villages Act;
- What information should operators obtain before making any payment;
- Dealing with current residents and understanding the role of attorneys, guardians and next of kin
- Dealing with outgoing residents or their families after the resident leaves the village
This 90-minute training session covered:
- The differences between a “guardian”, “financial attorney”, “medical treatment decision-maker” and “next-of-kin” (NOK) or “representative”.
- Which decisions these people can make.
Eg, can a NOK sign a residence contract? can a NOK direct you if a legal personal representative has been appointed? who can make decisions after the resident leaves or dies?
- What options are available to you if you disagree with a direction from a legal personal representative?
- Best approaches when dealing with current and outgoing residents in retirement villages.
- Legislative compliance with resident payments – the who, where, what and how.
This online training was delivered by Rosemary Southgate, Principal in the Property & Retirement Living team and Ilana Kacev, Principal in the Wills and Estates planning team. Taryn Ellerington (Senior Associate in the Corporate and Commercial team) and Anna Shilova (Associate in the Property team) assisted with Q&A.