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.