With many baby-boomers dreading the prospect of going into an old-folks home, house-sharing may look like the answer.
aged care
The limits of generosity: providing a RAD for a parent
Providing a Refundable Accommodation Deposit for a parent is a wonderfully generous thing to do, but it need not be so generous that you lose even more on the arrangement.
Beware estate planning issues with aged care
As our population gets older (and lives longer), the likelihood that an elderly parent will need to go into a nursing home is increasing.
Funding an aged care RAD with a reverse mortgage
A Refundable Accommodation Deposit (RAD) payable on entry in aged care is often a large amount of money to find in a hurry and many people think selling the family home is the only option open to them.
Funding an aged care deposit with reverse mortgage
In many cases, by using a reverse mortgage loan, the much-loved family home does not have to be sold to fund aged care entry costs.
Aged care – what you should know
More people are living longer than ever before – and by 2060, a quarter of all Australians will be aged over 65. Our Aged Care system needs to keep changing to accommodate the growing demands of an ageing population.