Newsletter FOr Nsw trustee & GuardiaN clieNts aNd FrieNds

issue #16 autumN 2017

Planning ahead for pets

it was nearing 5 o’clock on a Friday afternoon late in the summer when Nsw trustee & Guardian urgently activated a Power of attorney for a client suffering dementia.

The gentleman was in respite care and was very concerned about his 13 year old blue heeler dog named Princess

as she was at home alone in the backyard. He had appointed NSW Trustee & Guardian as attorney when he had made his Power of Attorney some years before. This meant our staff were able to immediately access the gentleman’s funds to rescue his pet from the heat of the backyard and place her in accommodation where she could be well looked after. By preparing a Power of Attorney while he had capacity, Princess’s owner was able to ensure his beloved blue heeler was looked after.

Pets are important members of the family for most Australians – more of us live in

households with a pet than with a child1 – this means a lot of animals are potentially at risk if their owner has not made plans for their future welfare.

NSW Trustee & Guardian regularly hears of situations where planning ahead documents have not been made and the outcome for the pet involved is not as happy as Princess’s story. Pets can be left in homes when people die intestate (without a valid Will) or where people have health issues which make it difficult to communicate with others and tell them about the pets they can no longer take care of.

These circumstances can be easily avoided by remembering your pet when you make your planning ahead documents – Will, Power of Attorney and Enduring Guardianship. It is straight-forward and there are a few different options available. In a Will for example, you can decide on a legacy to a loved one or animal charity with a request to look after your pet, or set up a trust for the care and maintenance of your pet.

Continued page 3

1 Roy Morgan Research, June 2015

See inSide for

SPecial offer

WelcoMe To tAGconnect

Nsw trustee & Guardian’s new service delivery model is taking shape. Our new service centres in Parramatta and Newcastle are in operation, the schedule of plan ahead days is increasing day-by-day and enhancements to our website will ‘go live’ in the coming weeks.

Continuing to deliver quality services to the people of NSW is the driving force behind the changes at NSW Trustee &

Guardian. Projections from the NSW Intergenerational Report 20162 reinforce the need for us to modernise in order to meet the needs of an ageing population set to increase nearly 50 per cent by 2056. The proportion of the population aged 65 and over will rise to 24 per cent of the population – up from 16 per cent currently.

The Intergenerational Report also makes the point that prioritising the customer when delivering services ultimately gives people more choice and control in what they receive, and the result is that services better meet their individual needs. A customer led approach is key to our new way of delivering services. We are working to bring more planning ahead services to locations convenient for you, increase the number of our customer-facing staff, and streamline our processes. Putting people first is also vital to our message about the importance of planning ahead for your future legal, health and financial decisions. When you have a Will, Power of Attorney and Enduring Guardianship Appointment in place your choices and wishes can be respected because they are properly documented.

Damon Quinn Acting CEO, NSW Trustee & Guardian

5 reader OFFers

6 GrOwiNG FOcus ON elder aBuse

7 cOmmuNitY eVeNts

8 FuNd iNVestmeNt rePOrt

1 PlaNNiNG aHead FOr Pets

2 welcOme tO taGcONNect

3 Newcastle serVice ceNtre lauNcHed

4 imPrOViNG Our serVice tO YOu

2 NSW Intergenerational Report 2016, Future State NSW 2056 © State of New South Wales (NSW Treasury) 2016

in this issue

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PROJECTED NSW POPULATION IN 2056

Male 88.6 Female 91.42056

11.2m

AT A GLANCE

NSW AGEING POPULATION

29 4137

1976 2016 2056median age

LIFE EXPECTANCY

Male 80.8 Female 85.02016

nearly 50% more than the 7.6m today

Planning ahead for pets (continued)

When deciding on the options it is important to think about your pet’s expected lifespan, the cost of looking after it for the rest of its life and

who will look after it – are they reliable?

You can make specific mention of your pet in your Power of Attorney and Enduring Guardianship documents (or in a document which can be annexed to these) providing instructions about the use of your money to provide for your pet and how would like them cared for. If something happens to you while you are alive, your attorney can make decisions about your finances and assets, including money to be spent on your pets. Importantly, your attorney can enter your property if you are ill or incapacitated and gain access to your pets. Your enduring guardian can make health, medical and lifestyle decisions, including what services may be required to adequately care for your pets.

Both of these documents together can be used to ensure your appointed representatives know what you want for your pets. You can give specific instructions within each of these appointments giving direction about access to your pets and the use of your money to provide for them. You may want to document and discuss with your attorney and guardian what you would like to happen to your pets if you had to go into hospital or permanent care.

NSW Trustee & Guardian have extensive experience in considering the options around such issues. We can provide you with the time, support and advice to work through your options.

Pet emergency cards

We have pet emergency cards, including a key ring tab, to give away to readers of TAGconnect. In the event you are unable to return home to

care for your pet, this card can be easily seen in your wallet, alerting those around you that your pet needs care. On the reverse side of the card is space for you to write the name of your pet, as well as the emergency contact information such as the name of your attorney or enduring guardian.

To order your pet emergency card email tagenquiries@tag.nsw.gov.au. If you do not

have access to email, call 02 9240 0775. Available while stocks last.

Com

plim

ents

of:

Name & breed of pets: Emergency contact: Contact no: Vet no:

Compliments of:

My pet is home alone

My pet is

home alone

If I am sick or injured, please contact the person on the back of this card to care for my pets.

If I am sick or injured, see

pet card in p

urse or wallet.

3Issue #16 | Autumn edItIon 2017

NewcAstle service ceNtre launchedOur latest service centre launched in Newcastle mid-February. The service centre is in addition to the existing NSW Trustee & Guardian branch in Newcastle on King Street and brings seven new full-time jobs to the city. The new team combines highly experienced Client Service Officers along with new local recruits to provide specialised trustee and financial management services supporting our many clients around NSW.

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Over the past year NSW Trustee & Guardian has been undergoing significant change to modernise and improve services for our clients. The changes are essential to ensure we continue to meet the growing demand for trustee and financial management services in NSW.

We are shifting away from services being based primarily at a branch location, to a focus on delivering Will making and Power of Attorney

preparation services at ‘plan ahead days’, held in local community venues. NSW Trustee & Guardian staff will be spending more time on the road as they bring planning ahead services to people across the state. From Armidale to Dubbo, Sydney to Yass, plan ahead days are held in convenient locations near you.

The new model also sees the creation of centralised service centres in Newcastle and Parramatta. Clients who have an ongoing matter, such as a beneficiary in an estate, trust client, active Power of Attorney client, private manager, or recipient of financial management services, will now be looked after by a team based in a service centre. It is staff in one of these teams that you will have contact with if you need to call or email about your

matter. Each team has a particular area of specialisation so is well equipped to help you and will be familiar with your particular circumstances when you call.

The first stage of enhancements to our website will shortly be launched in the form of a client portal for people to start planning ahead documents online. The new portal will replace the current ‘Start Your Will Online’ website pages. A portal for private managers to lodge accounts, and submit forms is also slated to go live before the end of the year. This will reduce the paperwork burden and improve turnaround times for private managers.

NSW Trustee & Guardian is partnering with Service NSW to maximise access to services. Service NSW staff will soon be able to provide information about NSW Trustee & Guardian services, connect clients with their specialist team via telephone or internet, and accept document drop-offs.

Book to update or make your Will, Power of Attorney and Enduring Guardianship at the

next plan ahead day in your area by going to our website www.tag.nsw.gov.au/planahead

iMProving our service To you

5Issue #16 | Autumn edItIon 2017

reader offers2017 diary legal topics for older people

This perennially popular publication is an every-day diary as

well as a source of practical and easy to understand information about legal issues that might affect your life as you get older.

The large print diary covers a host of legal issues including Wills, Powers of Attorney, pension and aged care issues, family law matters and retirement housing. It also features a message from Ita Buttrose AO, OBE and useful snippets of information such as how to apply for a Seniors Card.

Guide to a social media after life

Palliative Care Australia’s helpful booklet Guide to a social media

afterlife encourages all Australians to consider the future of their social media accounts and put measures in place to ensure their online self is protected or memorialised. It gives specific guidance on how to download your data from social media platforms and deactivate accounts including Facebook.

MNLA90006

Legal topics for older peopleDiary 2017

Guide to a social media afterlife

Order the 2017 Legal topics for older people diary and/or a Guide to a social media afterlife by emailing tagenquiries@tag.nsw.gov.au. If you do not have access to email, call 02 9240 0775. Available while stocks last.

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The NSW Government recently published its response to the recommendations of last year’s parliamentary inquiry on elder abuse. This follows

on the heels of the Australian Law Reform Commission’s (ALRC) release of a discussion paper of proposals for law reform. There is also a federal government working group looking at approaches to tackling elder abuse.

The NSW inquiry made a range of recommendations including the introduction of a public advocate with powers of investigation, and law reform to better safeguard enduring powers of attorney. The NSW Government has either fully supported or supports in part most of the recommendations and has committed to ongoing funding of the Elder Abuse Helpline and Resource Unit. It is also continuing funding for community justice centres and training programs that help service providers respond to and prevent elder abuse.

The government is now awaiting the outcome of a NSW Law Reform Commission review into the state’s guardianship laws, which is considering the need for a public advocate and the completion of the ALRC review, before deciding on changes to power of attorney legislation.

NSW Trustee & Guardian recommends having your Power of Attorney professionally drafted and appointing an independent attorney. Your attorney is in an important position of trust so having an experienced professional prepare and witness the document provides a valuable layer of protection. NSW Trustee & Guardian can make your Power of Attorney and witness it for you. We can also act as your independent and professional attorney if you so choose.

A Power of Attorney is a companion document to your Will. Book to make one with us today, call 1300 364 103, or visit tag.nsw.gov.au

groWing focuS on elder Abuse there is increasing awareness about

the prevalence of elder abuse within

australian society following both state

and commonwealth government reports

on the issue. elder abuse often takes the

form of financial abuse and can occur

when a person takes advantage of their

position as attorney when acting under

a Power of attorney.

7Issue #16 | Autumn edItIon 2017

commuNity evenTSNSW Trustee & Guardian participates in a range of community events and activities to promote the importance of planning ahead by making a Will, Power of Attorney and Enduring Guardianship. These events are a great way for people to get accurate information about what is involved in planning ahead and chat to one of our experienced staff.

come and see us at the following upcoming events:Charles Sturt University Wellness & Wellbeing Expo – NSW Trustee & Guardian will share information about the importance of planning ahead with staff and students at the following campuses Albury-Wodonga 20 March, Wagga Wagga 21 March, Orange 28 March, Bathurst 29 March.

Eastwood Community Info Expo, 23 March – NSW Trustee & Guardian staff will be available to answer questions from members of the community. For further information call the Community Migrant Resource Centre on 9858 1925.

Easter Show Seniors’ Day, 12 April – Come and ask our friendly staff any questions you may have about planning ahead. NSW Trustee & Guardian will have a stand at the information marquee, on the grass area in front of the amphitheatre www.eastershow.com.au

are you looking for A speAker?

Experienced NSW Trustee & Guardian staff are available to give free talks to your group about Wills, Powers of Attorney, Enduring Guardianship, Trusts, Estate Administration and the duties of an executor at your workplace or organisation. To book one of our speakers call 1300 553 731 or email your request to: tagenquiries@tag.nsw.gov.au

lAwAccess Nsw offerS free legal helPLawAccess NSW is a free government service that provides legal help as a starting point for people who have a NSW legal problem. LawAccess NSW provides this help with its telephone service and website.

What is your legal problem? LawAccess may be able to help.

• I am having problems with my neighbour about their tree.

• I had a car accident and my insurer has refused the claim.

• My debts are getting on top of me and I’m getting letters from my creditors.

• I’m having problems at work. My employer has called me into a meeting and I’m not sure what to do?

Call LawAccess NSW 1300 888 529 between 9am and 5pm, Monday to Friday. If you require an interpreter call the Translating and Interpreting Service on 131 450 and ask for LawAccess NSW.

You can visit the website, www.lawaccess.nsw.gov.au, to access resources around a range of legal topics including guides and detailed information for people who are representing themselves in a court or tribunal.

fuNd iNvestmeNt report

NSW Trustee & Guardian manages clients’ financial assets

across the investment funds detailed below. In managing

these funds, NSW Trustee & Guardian often uses external

investment specialists like fund manager BlackRock.

The Australian Shares Fund, International Shares Fund and Growth Portfolio all enjoyed strong returns of above 10% for the last six months.

Three year returns for these funds are in line with longer term expectations. The Australian Listed Property Securities Fund’s negative return follows an exceptionally strong two and a half years of growth, meaning its three year return now sits at a nearly 17% p.a.

Interest rates on money markets remain low. This has resulted in modest returns from the Primary Portfolio, Access Fund, Australian Cash Fund, and Australian Cash Plus Fund of between 1.1% and 1.3% for the last six months. These funds have benefitted from the introduction of term deposits to their portfolios in recent years. Despite low interest rates, this strategy has ensured the funds have performed relatively well when tracked over three years.

All fund and benchmark returns are shown after NSW Trustee & Guardian investment fees have been deducted.

Return for 6 Monthsending 31 Dec 2016 %

Return for 3 Yearsending 31 Dec 2016 % p.a.

Client Fund

Fund Benchmark Fund Benchmark

Access 1.3 0.9 2.2 1.9

Australian Cash 1.1 0.9 2.1 1.9

Australian Cash Plus 1.2 0.9 2.3 1.9

Australian Fixed Interest 2.6 2.6 4.5 4.6

International Bond 4.6 5.0 5.5 6.0

Australian Shares 10.3 11.4 6.1 6.1

Australian Listed Property Securities -2.6 -2.0 16.9 17.6

International Shares 10.4 10.4 9.1 8.9

Primary Portfolio 1.3 0.9 2.2 1.9

Growth Portfolio 10.1 10.5 7.5 7.7

The interest rates on medium term bonds also remain low. However, the Australian Fixed Interest Fund’s return of 2.6% for the last six months is strong compared to bond markets’ income yields. For example, three year government bonds currently provide an income yield of only 2.0% p.a.

NSW Trustee & Guardian continues to explore ways of maximising client returns in the current low interest rate environment.

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