The assessment of the family home is probably the most misunderstood asset with regards to aged care and the age pension. Generally speaking, the former home will be assessed as an asset for Aged care purposes unless occupied by a protected person on the...
In our previous aged care article we looked at the costs of care for those with high means (assets above $178,839.20). What about those with a lower level of assets? How can they afford Aged Care? Residents with low or moderate means will have...
Anybody who has looked even briefly at residential Aged care in Australia quickly realises that it is both expensive and complex. With the taxpayer funding up to $120,000 per resident on top of paying up to $25,000pa in Age Pension, the cost of state...