question
Q: Mum is 74 years old,living alone at home, but needs to go into a high care nursing home. She only receives a minor part pension as she has approximately $400,000 in a super based managed fund.
She was told that when she goes into the nursing home she will loose all pension/care benefits as her home will be treated as an asset in full and she will have to pay maximum fees. Can she sell up and gift some funds to her children? Centerlink said 5 yrs still her asset, but what about after?re-assess?
