Jan already received a partial Carer Payment that helped to care for her disabled son George. Unfortunately she only qualified for a partial Carer Payment because her investment assets were included in the Centrelink assets test as they were in her name. The reality was that Jan relied on some of that investment income to look after George. By creating a Special Disability Trust Jan was able to restructure her assets to place them into the trust to be used for her son’s ongoing care. This helped Jan to qualify for the full Carer Payment and make it easier to look after George with an extra $6500 per year.
Disclaimer and Warning
The information above is of a general nature only. It should not be used as a source to make financial decisions. It’s also important to note that the legislation and figures related to this topic tend to change regularly and therefore the information above may not reflect the current status. We recommend that if you are looking for advice on this matter, you should contact us.