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This caring for your assets information sheet is about the things that are important to everyone – family relationships, money and a place to live. Many older people choose to move with family members, so they can get the care they need as they get older. These arrangements often work well for everyone involved, but at Seniors Rights Victoria we see many that have gone wrong. Usually it is the older people who suffer the consequences and often this is avoidable.
This guide is for you if you are thinking about
- Selling your home and giving the money to someone who has agreed to care for you in the future.
- Moving in with a relative, or having a relative move in with you.
- Transferring property to a close relative or friend.
- Giving or lending money to someone.
The guide will help you think through the possible personal and legal outcomes of any new arrangements before you make changes. It provides information and lists services that offer confidential advice.
This guide will also help you if you have already made any of these changes.
Have you already made an arrangement that involves a property transfer?
If there is a disagreement about it, it is important to get legal advice as soon as you can. The law has time limits for certain types of legal action. If you delay getting advice, you may lose the chance to take steps to protect any legal interest you may have.