The importance of the $173,075 number - under or over | Accurium

The importantance of 173075 numbr

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With typical aged care advice cases, most clients’ assessable assets are in excess of $173,075, be it with the inclusion of the home, when not resided by an eligible person, or with the inclusion of other assets. As a result, these clients are considered high means residents, resulting in their accommodation payment based on the facility’s advertised amount. From time to time, advisers do come across clients whose assessable assets are below $173,075, where ignoring any significant non-social security income, they are usually assessed as low means residents . For couples, as half of the couple’s combined assets are attributed to the aged care resident, members of a couple may be low means if their combined assessable assets are less than $346,150. Based on our experience from adviser enquiries, it is very common for single homeowner clients to be high-means residents whereas not uncommon for some couples to be low means, especially where most of the wealth is in the family home. 


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