Some retirees who need aged care may prefer to stay at home. Whilst others may need or prefer the assistance that a residential aged care facility can provide. This document provides information on the fees and charges that apply to those who first receive home care or residential aged care on or after 1 July 2014. It also provides a summary for those who move aged care facilities and choose to be assessed under the post 1 July 2014 rules.
To access a Home Care Package or enter residential aged care, the person requiring care must be assessed and approved by the Government's Aged Care Assessment Team (ACAT). ACAT helps older people and those who care for them, decide what kind of care will best meet their needs when they can no longer manage on their own.
Information in this document is based on current regulatory requirements and laws, as at 1 July 2020, which may be subject to change.
A testamentary trust is commonly used by estate planning lawyers to protect the assets and inheritance of the testator’s benefciaries from creditors, family law actions and providing flexibility in relation to the distribution of the estate.
There are limits on how much you can pay into your super fund each financial year without having to pay extra tax. These limits are called ‘contribution caps’.
Building Family Wealth takes time. But how easily can it be torn down in expensive litigation, legal challenges and regulatory and economic threat?