Granny Flat agreement

Hi, I just wanted to confirm the requirements for a Nanny Flat Agreement. We have recently discharge our mother from an aged care facility. We currently live in a small home where we care for our mother 24hrs a day. She recently has sold her home and she is currently transferring the funds into our account to help us buy a larger home so we can all live comfortably. My wife and I will be the title deed owners of the new property. My Mother, Wife and I have agreed to form a union of an Agreement for Life Interest, also known as a Granny Flats Agreement.
Hopefully, we can care for her for many years to come. However, if the time does come to enter her into an aged care facility, is the granny flat excempt from the assets and income test regarding future age care accomadation charges?

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Hi dbrauerI can’t claim to have an understanding of the financial implications for granny flats with respect to aged care.However I did find this government source for the link below which may be of help. would call the Income and Assets division of Department Human Services on 1800 227 475 to clarify this.Alternatively speak with a specialist aged care financial adviser as everyone’s financial situation is different.RegardsJill