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?

Hi Rob,

What your mum has been told regarding pension benefits is wrong.

Depending on what happens with the house will dictate what happens to Centrelink benefits but it's possible to retain the house for a period of time and keep Centrelink benefits.

Your mum will have to pay the advertised rate for the room but again there are options here that mean she may not have to hand over a large lump sum of money.

Aged care is a complex field with many competing factors at once to consider (Centrelink, affordability, remaining estate etc.). I provide advice in this space and can help you navigate everything if you want.

Reach out if you would like my help.

Regards
James