Ask Noel: Sell house to pay off an aged care deposit?

September 6 2018 - 8:00am
Ask Noel: Sell house to pay off an aged care deposit?
Ask Noel: Sell house to pay off an aged care deposit?

I am 85 and live alone in the family home. My wife is sick and resides in an aged care facility where we paid two-thirds of the deposit required, paying interest on the balance. Should I die before my wife, could my daughter, who has my wife’s power of attorney, pay off the balance of the deposit from her share of the proceeds from the sale of our home? Is this a good idea? My wife has no use for money.

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