How is a Refundable Accommodation Deposit (RAD) refunded?
A Grant of Representation must be provided to the aged care facility. Hicks Oakley Chessell Williams Lawyers can assist with this.
When will a RAD be refunded?
When a resident dies the RAD is then required to be refunded to the estate 14 days from the receipt of the Grant of Representation.
The aged care facility is required to pay interest on the bond from the date of death to the date of refund.
How quickly can a Grant of Representation (Probate or Letters of Administration) be obtained?
If the estate is relatively straight forward, this can be obtained within 4-6 weeks of receiving instructions.
What is a Grant of Representation?
A Grant of Representation is a document issued by the Supreme Court which confirms the appointment of:
- the executor (Grant of Probate– where a valid Will is left) or
- an administrator (Letters of Administration– where a valid Will has not been left).
It gives the executor/administrator the authority to deal with the assets of the deceased.
Without a Grant of Representation the RAD won’t be refunded
If there is no Grant of Representation and the RAD is under the small estate threshold the aged care facility may use their discretion and insist on a Grant of Representation. If a RAD amount is over the threshold, then a Grant of Representation will be requested.
How can a Grant of Representation be obtained?
Contact Hicks Oakley Chessell Williams, Lawyers for a 'deceased estate checklist' to get the process underway.
Call us on 03 9550 4600 and ask for a member of our wills and estates team.