Example bond calculation - partnered homeowner

Peter and Claire are a married couple who own their own home worth $250,000.  They have other assets worth $120,000.

Claire is admitted to a nursing home but Peter continues to reside in the family home.

Because Peter continues to reside in the family home, it is exempt from assessment when determining the maximum accommodation bond Claire can be asked to pay.  The maximum amount of her bond would be calculated as follows:

Family Home$250,000 (excluded)

Other assets$120,000

Half of $120,000 $  60,000

Less amount Claire

must be left with$  22,500

Maximum bond Claire

can be asked to pay$  37,500

Note:  figures used in example are pre 2 April 1998 increase.