Recorded Webinar: Boomers Beware - Providing Advice on Residential Property Options for the Older Generation

Down-sizing has become a buzz word for older Australians seeking to avoid both the burden of a large family home and make interim arrangements before a possible movement into aged care. Several options exist, but each require the provision of legal advice to minimise risk and maximise both financial and emotional outcome. This session will explore these options and the associated risks, including:

• Selling the family home to fund a move – financial consequences for pensions and other tax considerations

• Back yard granny flat pro’s and con’s:

  • Title and tenure risks

  • Gift or loan?

  • Ongoing responsibility for maintenance and improvements

  • What happens upon move or death? Tying up the loose ends

  • Key agreement essentials

• Retirement villages and other independent living accommodation:

  • Am I on the title?

  • Disclosure obligations

  • Cooling off rights and settling in periods

  • Fees, rights and obligations

  • Improvements, capital gains and rights on sale