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Clients & incapacity: The new risk for advisers

Published on 12 Mar 2014 | Took place at RACV Club, Melbourne , VIC

The average age of Australians is increasing and many of us have clients in their 70’s and beyond. Have you ever wondered if a client is ‘of sound mind’? Are you worried about the risks to the client and you if you act on their instructions? What key legal principles apply to determining incapacity and what obligations do you as adviser have when dealing with clients or their financial attorneys?

This event discussed:

  • the adviser’s duty to assess capacity
  • ways of assessing capacity
  • should you always delay acting on client directions if concerned about capacity?
  • what to do if you suspect undue influence by 3rd parties
  • what can and can’t a financial attorney do?

Individual sessions

Clients & incapacity: The new risk for advisers

Author(s):  Carolyn Sparke

This paper covers:

  • testamentary capacity – a solicitor's obligations when making a will or power of attorney
  • wills - what are a solicitor's obligations to test capacity
  • powers of attorney - what are a solicitor's obligations to test capacity
  • what can and can’t a financial attorney do?
Materials from this session: