SMH
·general
·2 hours ago
Paying for your partner’s aged care? Don’t make this $750,000 mistake
Australian couples increasingly fund aged care costs for partners, but a common scenario exposes significant financial risks. When one spouse pays a $750,000 refundable accommodation deposit for the other's care, the funds go to the resident's estate upon death, not the person who paid. Without a formal loan agreement, disputes frequently arise over whether the payment was.
Summary by Glance · SMH
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