The Social Security Act provides that “… where appropriate [applicants] should use the resources available to them before seeking financial assistance under this Act; …” This webinar provides a comprehensive overview of the criteria for a residential care subsidy and the impact a family trust has on the means and income assessment. The webinar will also consider how advisers might proactively address client expectations
This webinar, which will conclude with a question and answer section, will consider how means assessments are carried out, the impact of gifting, what comprises deprivation; and when trust income will be taken into consideration (imputed income).
Topics covered will include:
Legal framework - Application process - Means assessment - Life interests - Income assessment - Gifting - Deprivation - Trust reversals - Allowable debts - Changed circumstances - Clever plans – and when they aren’t - Managing client expectations
Many settlors of family trusts have settled a trust with the expectation of qualifying for a residential care subsidy (RCS) in the future. For increasing numbers of settlors this expectation is not being realised. This webinar will educate attendees on current MSD policy, the impact of a family trust on assessment criteria and options for how to address these issues with clients
Attendees will learn:
12 April 2017
This course is targeted at all lawyers and accountants with an aging client base or clients concerned to establish the criteria for a long-term residential care subsidy.
Vicki Ammundsen, Director, Vicki Ammundsen Trust Law Limited
1.25 CPD Hours