Tips for deciding about retirement village living – Compass Q&A

Описание: Buying into a retirement village is not only a personal decision, but also a financial one. Understanding your options is important.

In this informative conversation, we discuss the important factors to think about when considering retirement village living. From contracts and fees – such as entry, exit and maintenance – to everyday lifestyle details, understanding what’s involved will help to make the decision easier.

Questions are answered by our speakers Sharon Carthew, Shane McGrath, and William Maynard.

Moderated by Brett Osmond, Editor of Compass.info. This webinar is made available to Compass subscribers. Compass sends out a monthly newsletter on topics affecting older people, covering topics from ageism to powers of attorney, retirement and more.

Speakers:

Sharon Carthew, Lawyer and QRVPAS Community Legal Educator·Caxton Legal Centre
Sharon Carthew is a lawyer at Caxton Legal Centre, Brisbane, who started in the QRVPAS team in 2023. The service provides free legal advice across all of Queensland for people either living in over-50s residential parks or retirement villages or considering moving into these types of communities. Sharon also presents free legal seminars for groups interested in the legislative rights of living in these communities. Sharon has a Bachelor of Laws, a Graduate Diploma of Practical Legal Training, and a Bachelor of Nursing.

Shane McGrath, Senior Tenancy and Retirement Worker·Housing for the Aged Action Group Inc. Victoria
Shane McGrath is the Senior Tenancy and Retirement Worker at Housing for the Aged Action Group (HAAG), a community-based organisation in Victoria that specialises in the housing needs of older people. The Tenancy and Retirement team provides advice and advocacy to help older people assert their rights across a range of housing types, including retirement villages and residential parks.

William Maynard, Solicitor, Senior Rights Service
William has been a solicitor at Seniors Rights Service since January 2021. Since January 2022 he has specialised in Retirement Village and Aged Care law. During that time William has given many talks to community groups throughout NSW. He provides telephone legal advice and has represented seniors in the NSW Civil and Administrative Tribunal and briefed barristers in Supreme Court matters. William joined Seniors Rights Service after a long legal career in private practice and the public service, working across a wide range of legal areas.

Please visit compass.info for more information.

00:00 Introduction
04:10 Types of retirement villages
06:51 Who regulates retirement villages?
07:52 Legal advice when buying
09:05 Rights and treatment
12:22 Being informed when buying
14:14 Types of fees
16:43 Hidden fees
20:05 Selling and moving to aged care
24:48 Nuisance and dependence
27:24 Tiny homes
28:34 Navigating legal contracts
30:11 Capital gains
34:27 Control over selling (Pt. 1)
35:22 Rules around guests
36:47 Control over selling (Pt. 2)
39:49 Villages insisting on probate
41:08 More information on states
42:01 Relationships and community
45:21 Transitioning to residential care
46:31 Negotiating a contract
47:49 Contractual responsibilities
50:18 Allegations and behaviour
53:01 Differences in contracts
53:59 Monthly fees
54:47 Cognitive assessment
56:49 See more on Compass.info
58:11 Latest announcements and Closing statement