April 7, 2016

Australia’s unclaimed money in 2016 = $1.2 billion dollars

From Kerry Packer to Christopher Skase, almost 1.3 million Australians — dead or alive — have money ready to be claimed from the Federal Government. The Government is calling on Australians to use a special search engine to check if some of the $1.2 billion tied up in old bank accounts, share dividends and life insurance is theirs. Some accounts hold just 5¢ while others have tens of thousands of dollars. One account holds more than $1 million. Kerry Francis Bullmore Packer, one of the country’s richest men who died in 2005, has $14,520 in three Westpac accounts that have […]
March 31, 2016

Early advice made all the difference – a story

Margaret was 21 when she married Graham. She was working as a sales assistant in a large department store when they decided to start a family. As her pregnancy advanced Margaret gave up work and Graham, a warehouse fork-lift driver, took a second job to make up the shortfall in their income. He was a hard worker and fast learner which prompted his boss to promote Graham to Warehouse Manager a few months later. In the years after their first son was born, two more babies arrived – another boy and a girl. Once the children were settled at school, […]
March 31, 2016

What to do with the family home when entering aged care?

This is a crucial question for those people about to enter residential aged care, especially in light of the change to the treatment of the rental income for new aged care residents after 1 January 2016. With the median price of homes in Sydney now around the $1 million mark, many people looking to enter aged care will be faced with a difficult choice on what to do with the family home. Many of these homes were built over 50 years ago, and are in varying states of repair. Often they are still occupied by the original owner/s and based […]