Martin O’Sullivan: How farm families can pay for nursing homes – without selling the farm
The Nursing Home Loan Scheme is a good option if the farm has not been transferred and the retained assets mean you can’t satisfy the Fair Deal means test
Option: With the Nursing Home Loan Scheme, a person can delay paying for their care until after death, using their assets to secure the loan. Photo: Getty — © Getty Images/iStockphoto
High on the succession planning agenda for many farm families is the possibility of future nursing home care need.
The need may never arise, but sometimes it does arise — and often without much prior warning.
