Many people don’t realise that these days it’s usually possible to pay an accommodation bond for entry into aged care without selling the family home. A few select lenders such as Bluestone & ABN Amro allow the person going into care to borrow against their property via a reverse mortgage to pay for the accommodation bond.
The house can then be rented out, if structured correctly, without any impact on the government pension. For more information on reverse mortgages for accommodation bonds and aged care go here.