1.25 CPD Hours

  • On Demand Event
    Complete online in your own time (Self-paced)
    • $180.00 excl. GST

Description

The Social Security Act provides that “… where appropriate [applicants] should use the resources available to them before seeking financial assistance under this Act; …” This webinar provides a comprehensive overview of the criteria for a residential care subsidy and the impact a family trust has on the means and income assessment. The webinar will also consider how advisers might proactively address client expectations

HIGHLIGHTS
This webinar, which will conclude with a question and answer section, will consider how means assessments are carried out, the impact of gifting, what comprises deprivation; and when trust income will be taken into consideration (imputed income).

Topics covered will include:

 Legal framework -  Application process -  Means assessment -  Life interests -  Income assessment -  Gifting -  Deprivation -  Trust reversals -  Allowable debts - Changed circumstances -  Clever plans – and when they aren’t -  Managing client expectations

WHY ATTEND

Many settlors of family trusts have settled a trust with the expectation of qualifying for a residential care subsidy (RCS) in the future. For increasing numbers of settlors this expectation is not being realised. This webinar will educate attendees on current MSD policy, the impact of a family trust on assessment criteria and options for how to address these issues with clients

LEARNING OUTCOMES

Attendees will learn:

  •  How to advise clients who have expectations of a RCS
  •  The impact gifting and family debts have on RCS applications
  •  How to assess a client’s RCS entitlement and how to put a plan in place to address the outcome of the assessment
  •  Obligations after receipt of a RCS

DATE OF ORIGINAL BROADCAST

12 April 2017

SUITED TO

This course is targeted at all lawyers and accountants with an aging client base or clients concerned to establish the criteria for a long-term residential care subsidy.

PRESENTER

Vicki Ammundsen, Director, Vicki Ammundsen Trust Law Limited