Recorded Webinar: Estate Planning Implications of Retirement Village Tenure

Retirement village arrangements are a popular option for older Australians seeking to maintain their independence. However, there are significant estate planning implications which advisors and clients must consider before entering such arrangements. This session unpacks the key issues, including:

• What are the characteristic financial arrangements for residents in retirement villages?

• What are the typical liabilities of the resident (or their estate) on moving out?

• How do these compare to the forms of accommodation for elders?

• What factors affect the timing of refunds?

• What happens to the proceeds of sale after death of the resident

• Blended families – couple holds leasehold or freehold as joint tenants

• Should the tenancy be severed?

• Contractual arrangements/deed between couple with regard to unit post-death

• What needs to be in the wills