Included Assets

I was lucky enough to inherit enough money to help 2 daughters buy houses. For various reasons I did this as non repayable mortgages. One was done about 10 years ago and the other about 5 1/2 years ago and none of the ‘outstanding’ mortgage amounts has ever been paid back so I do not nor will get any income from either. The mortgages will be forgiven on my death.
Do I have to include these mortgages included as loans?

I have recently moved into an Aged Care Facility. I was told that I can take $9999 out of my bank account and put it in another and call it my funeral funds. This way it wont be included in my Assetts Test. Is this correct?

Thanks Jill and Robert That’s what I was afraid o

Robert Craven from Affinity Aged Care Financial Services has responded that the simple answer is yes. A loan will always be considered a loan until it is either repaid or forgiven. If the loans were to be forgiven, they would be assessed as a gift and the amount in excess of the gifting limits ($10,000 in a financial year and $30,000 in a five year period) would be considered a deprived asset. As such the excess would be assessed under both the assets and income test for 5 years from the date of the