Dad owns part of our property

Hi There
my Dad owns part of our house and his name is on the title deed. If he goes into a nursing home, will we have to sell to pay for the fees?

Hi Apeach500,My understanding is that you may be able to apply to Department Human Services (DHS) to have the home assessed a “unrealisable asset” by virtue of the fact there is you and your dad on the title and therefore the property is jointly owned and not saleable to pay aged care fees because you will still continue to live in the family home and do not wish to sell at this time. However I am not a financial adviser so I suggest you call DHS Income and Assets division on 1800 227 475 to clarify this. Also be aware that if you a “protected person” status (ie you have been either looking after your father and receiving an income support payment for at least the past two years prior to your father entering residential care or you have been living in the family home for at least 5 years prior to you father entering care and have been receiving an income support payment) then the family home will not be included in your fathers aged care fee assessment.