Factsheets - Family agreements for lifetime accomodation

Sometimes a formal care agreement is struck between an elderly parent and an adult child where, in exchange for money or the transfer of the home of the parent to the child, the child will allow the parent to live in the home with the promise of personal "care for life”, instead of the elderly parent entering a retirement village or an aged care facility.

COTA NSW Document

Released: 09-Nov-2016

Sometimes a formal care agreement is struck between an elderly parent and an adult child where, in exchange for money or the transfer of the home of the parent to the child, the child will allow the parent to live in the home with the promise of personal "care for life”, instead of the elderly parent entering a retirement village or an aged care facility.

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