General Medical issues thread

[Quickstatus]

Everyone needs a home but aged care offers a 2* level hotel room (and likely 1* catering or worse) and doesn't seem like a home to me…more like a prison...

Depends on you level of independence and the NH.
It may be more appropriate to live in own home and get aged care packages to provide things like cleaners etc. UberEats is the ultimate meals on wheels

Alternatively some people take their $$$ and move to somewhere OS where there is greater purchasing power.

 

[JohnK]

You should always talk to a lawyer or accountant when selling large assets if on an aged pension. Look up "deprivation of assets Centrelink". And remember that once the home is sold the proceeds are no longer exempt and are considered non exempt assets for the purposes of calculating the OAP etc

The idea basically a person's assets should firstly go toward their care first rather than be given to someone else

Of course and we'd never do anything without legal advice.

This whole thing is a minefield. Looks like the government has forced inheritance taxes and pseudo death taxes.

Why can't mum transfer her house to her sons or granddaughter? She gets full pension and the idea that she has to live off the funds from selling house is ludicrous.

So the only thing we can do is ensure that a will is in place and up to date to avoid any sort of tax.

P.S. Ambulance came to get dad this morning. Apparently the hospital is now going to take care of putting dad into respite care or nursing home. I don't think he will go home again. Sad.

 

[Pushka]

Of course and we'd never do anything without legal advice.

This whole thing is a minefield. Looks like the government has forced inheritance taxes and pseudo death taxes.

Why can't mum transfer her house to her sons or granddaughter? She gets full pension and the idea that she has to live off the funds from selling house is ludicrous.

So the only thing we can do is ensure that a will is in place and up to date to avoid any sort of tax.

She can transfer it. It just won't be helpful in improving her financial position, at all. And a will in place does not avoid tax.

 

[Quickstatus]

She gets full pension and the idea that she has to live off the funds from selling house is ludicrous.

I'm not sure why do you think she has to sell the house?.

Selling the house while she can still live in it will actually worsen her financial position brcause instead of the house being exempt from calculating the pension, the proceeds from selling the house will not be exempt from calculating the OAP.

Wills are important but not sure that it is all that effective to reduce tax

Rather than pseudo inheritance taxes, your dad is likely to be completely supported by the taxpayer if he needs a NH. The government likely to pay for the equivalent of the NH residential accomodation deposit, and its usual subsidies over an above the 85% of the OAP that the resident is required to pay. He also still gets the OAP.

At least in Australia, NH access is not predicated on ability to pay. All NH who receive govt assistance are required to take a certain number of govt supported places.

 

[Flashback]

Of course and we'd never do anything without legal advice.

This whole thing is a minefield. Looks like the government has forced inheritance taxes and pseudo death taxes.

Why can't mum transfer her house to her sons or granddaughter? She gets full pension and the idea that she has to live off the funds from selling house is ludicrous.

So the only thing we can do is ensure that a will is in place and up to date to avoid any sort of tax.

P.S. Ambulance came to get dad this morning. Apparently the hospital is now going to take care of putting dad into respite care or nursing home. I don't think he will go home again. Sad.

Inheritance tax ...... Aussies have it easy in that regard, try getting clipped by the IHT in the UK and then come and talk to me about it!

 

[VPS]

Inheritance tax ...... Aussies have it easy in that regard, try getting clipped by the IHT in the UK and then come and talk to me about it!

It's enormous in the UK which is why some of the stately homes struggle to survive. They have a pile that is worth zillions but no cash and having to pay 48% inheritance tax is tough.

 

[Quickstatus]

having to pay 48% inheritance tax is tough.

I heard that the top gear bloke Jeremy is protesting against farm taxes

 

[VPS]

I heard that the top gear bloke Jeremy is protesting against farm taxes

and I agree with him which doesn't happen very often