This can benefit people who are:
- paying an ongoing means tested fee
- paying an accommodation contribution
- whose social security entitlements are reduced under either the assets or income test
Potential Benefits:
- Amounts invested in a pre-paid funeral or burial plot are asset and income test exempt, regardless of the amount invested
Things to be aware of:
- Pre-paid funerals and burial plots are not financial investments. People should take care entering contracts and ensure adequate consumer protections are in place.
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