6 June 2024The Vicca PodcastEp. 20 Nursing Home Rooming Accomodation Deposits - what is it and how to get it backToday, we’re tackling a specific yet crucial topic: rooming accommodation deposits. This issue frequently arises for our clients, both in estate planning and estate administration contexts. When entering a private nursing home, you are typically required to pay a rooming accommodation deposit. The amount varies widely, ranging from $230,000 to nearly a million dollars, depending on the nursing home and the facilities offered. You can pay this deposit in full upfront or make a partial payment and cover the remaining amount through weekly payments, calculated using a special formula by the nursing home.Let's dive into what you need to know about rooming accommodation deposits and their implications for your estate planning and estate administration in the future.Don't forget to like, subscribe, follow and share The Vicca Podcast.Visit our website www.viccalaw.com.au to download our FREE Guide on 5 Things you NEED to know about Estate Planning! Ready to take the next step? Call us on 07 3138 9940 or visit our website www.viccalaw.com.au to book a FREE consultation.Don't forget to follow us on socials and keep up to date with the latest news:InstagramFacebookLinkedIn

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