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Time to retire retirement village claims20 October, 2017
Since 2013/14 LPLC has seen 18 claims involving aged care facilities and retirement villages. The current estimate of the cost of these claims is in excess of $4million.
Claims arise in the three main areas of:
- buying and selling retirement villages or aged care facilities
- advising on retirement village contracts for residents
- drafting wills.
With our aging population, we expect an increase in legal work in this area.
The possibility of clients choosing to move into a retirement village or needing to go into aged care should be at the forefront of practitioner’s minds when taking instructions for wills. These possibilities should be raised with clients, particularly what will happen to the substantial amount of money recovered from the accommodation facility after the testator dies.