Moving from your home
When moving to aged care, you need to decide whether to sell or keep your home. While there are a number of factors that will influence this decision, it is important to know that keeping or selling your home can affect your ongoing care fees if you enter a facility on or after July 1 this year.
If you enter aged care on or after 1 July 2014, the value of your assets, which may include your home, will be used in the calculation of your ongoing care fees.
If you decide to keep your home, it is important that your accommodation costs are structured correctly in order to continue to receive favourable Centrelink treatment.
For over 50% of people, it can take more than a month after receiving an aged care assessment to enter a subsidised residential aged care facility, so it may be best to act sooner rather than later.