How is the family home assessed for my aged care client | Accurium

How is the family home assessed for my aged care client

When answering ‘How is the family home assessed for my aged care client?’ there are a number of elements required to consider.

The assessment of the family home of aged care residents has evolved over time for both the aged care means test and Age Pension assessment.

This means that advisers have to consider a number of different assessments for residents who entered care on different dates. This article discusses the different assessments and the exemptions with consideration to the changes to the aged care means test and Age Pension assessment.

To help you understand your client’s position this article also provides two summary tables and a decision tree flowchart which can be used as a guide for understanding how the home interacts for different cases.


Disclaimer

This information is provided by Accurium Pty Limited ABN 13 009 492 219 (Accurium). It is factual information only and is not intended to be financial product advice, legal advice or tax advice, and should not be relied upon as such. The information is general in nature and may omit detail that could be significant to your particular circumstances. The information is provided in good faith and derived from sources believed to be accurate and current at the date of publication. While all care has been taken to ensure the information is correct at the time of publishing, superannuation and tax legislation can change from time to time and Accurium is not liable for any loss arising from reliance on this information, including reliance on information that is no longer current. We recommend that you seek appropriate professional advice before making any financial decisions.