Lan is 80-years-old and her health is deteriorating. Her two grandchildren have lived with her for many years since their parents died. Lan wishes to transfer her house and other belongings to the grandchildren and to authorise them to carry out banking and other transactions on her behalf. The grandchildren are aged 15 years and 19 years.Required:
(a) Explain the legal matters that Lan must consider if she wishes to transfer her assets to her grandchildren. (5 marks)