Brisbane Times
·general
·2 hours ago
Paying for your partner’s aged care? Don’t make this $750,000 mistake
Australian spouses increasingly fund aged care costs for partners, but face a $750,000 financial trap. Under means testing rules, a spouse paying a refundable accommodation deposit receives only a partial refund due to 2 percent annual retention fees, and the balance goes to the resident's estate, not the payer. Legal experts recommend formal loan agreements to avoid disputes.
Summary by Glance · Brisbane Times
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