The number of people suffering from dementia is on the rise, states Alzheimer's Australia, with more than 332,000 living with this condition all over the country.
This is something that everyone thinking about estate planning in the near future should keep in mind.
If a person can prove that you were suffering from dementia or weren't of "sound mind" when you chose how to divvy up your assets, they may be able to challenge a will that you've created.
In New South Wales, 122,000 people are currently living with dementia. This is expected to rise by a staggering 10,000 people as 2014 gets well and truly underway.
According to John Watkins, the chief executive officer of Alzheimer's Australia in New South Wales, these "projected prevalence rates" mean we have to act now "to ensure there are better care and support services for people with dementia and their families".
It should also serve as a reminder to those who haven't yet organised a will to do so, as this could reduce the possibility of estate disputes arising after you pass away
For more information about the estate planning process, get in touch with Craddock Murray Neumann today.