Description

This webinar, which is relevant to all practitioners who advise clients regarding Residential Care Subsidy (RCS) applications or expectations, is presented by Vicki Ammundsen.

RCS applications have three components. The first is the needs assessment, which is followed by the means test, and if this is met, the income assessment, which determines how much the applicant must pay towards the cost of long-term residential care.

This webinar will provide a clear overview of the relevant rules and thresholds supported by explanatory case studies.

This case studies will clarify:

• the relevant thresholds for means testing
• gifting thresholds
• what constitutes an interest in a property
• how MSD applies the decision in Broadbent (notional income)
• exempt assets and income
• how to address “creative” estate planning

Topics covered will also include:

• practical considerations regarding RCS applications
• excess gifting
• how to communicate complex trust structures to MSD, and
• how to advise clients who want to know whether or not to retain a trust

ORIGINAL BROADCAST DATE

2 August 2023

LEARNING OUTCOMES

This webinar will enable practitioners to competently advise clients regarding long term asset and estate planning and in many circumstances avoid costly structures that may ultimately be ineffectual for Residential Care Subsidy purposes.

SUITED TO

All practitioners involved in long term asset and estate planning and advisors with clients contemplating long-term residential care.

PRESENTER

Vicki Ammundsen, Director, Vicki Ammundsen Trust Law Limited.