Social security estate planning implications

Topic Objectives

  • Understand the implications of estate planning on social security recipients;
  • Understand methods to improve social security entitlements;
  • Understand the Centrelink treatment of assets in private trusts and companies;
  • Understand Special Disability Trusts;
  • Understand how deprivation affects assets relating to deceased estates;
  • Understand the implications of life interests; and
  • Understand what payments and processes occur upon the death of a pensioner.

Why is estate planning important for social security recipients?

Estate planning is important for recipients of social security benefits to consider as receiving an inheritance may alter his/her social security entitlement.  This is particularly prevalent when one member of a couple dies as the survivor is then treated as a single person with lower thresholds under income and assets tests.  This means that the levels of assets and income at which the pension starts to reduce and ultimately ceases are reduced which may result in a lower pension or even a complete loss of pension for the beneficiary.

This is not to say that inheritances should not be left to social security recipients as the inheritance may still improve their lifestyle and wealth despite a reduction in social security entitlements.

Estate planning is of course not restricted to when a person dies.  People can give away assets to others during their lifetime as well.  This can be a useful strategy when a will could potentially be challenged.  However, recipients of social security

should be mindful of the gifting rules if considering this course of action.  

Gifting Rules and Limits

Deprivation occurs where a person gifts income or an asset and does not receive adequate financial consideration in return.  Deprivation and gifting rules apply to all means-tested pensions, allowances and benefits.

A single person (or a couple combined) can gift up to $10,000 per financial year over a 5-year rolling period, up to a maximum of $30,000, without it adversely affecting their Centrelink entitlements.

If the gifting occurs less than 5 years before becoming a pensioner, or a gift is made when the person is a pensioner, the value of the gift in excess of $10,000 (in each year) is considered to be a deprived asset.

Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

We value our customers, and so ensure that our papers are 100 percent original. Our Team of professionals does not miss the mark; they ensure that step by step each paper is written uniquely. We never duplicate or work as we compare papers rest assured. We deliver our work a day before time to ensure that you don’t miss your deadlines. It is not only doing the work but delivering it at the right time. We capture the consequences of late remittances. .

Money-back guarantee

We value customer satisfaction here at and make sure that you get the best value for your Money. It happens that sometimes you can pay twice for your order or may want to cancel it, or you feel that it doesn’t meet your requirements; our money back guarantee will give you the opportunity to get back your money. We will also refund 100% of money paid double. In case your paper does not satisfy your requirements , we request that you notify us via writing within 2 days otherwise on the third day we will assume that you have been satisfied. Do all your correspondences through our email address

Read more

Zero-plagiarism guarantee

At, our professional writers know the consequence plagiarism does for our clients. We have updated software’s such as article checker and copyscape to check for originality of the custom papers before submission of the final paper to the you. Our guarantee to the customer is that we will write 100% original papers for them that are quality, timely and of low cost. We have experienced professional and competent PhD writers who will write quality custom papers for you..

Read more

Free-revision policy

. At, we are proud to provide top-quality Essay writing service to our esteemed customers. We are ready to take up that challenging academic assignment that is giving you sleepless nights and simplify it for you according to your desired requirements. We are willing to revise your paper if it does not meet your requirements. At, we do not compromise with quality; thus, we offer unlimited free revisions until the customer is satisfied with their custom paper. Our unlimited free revision services are provided under the following terms:.. .

Read more

Privacy policy knows that client’s information is an essential tool for our company. It means that whatever the client requests from our service is kept strictly confidential. It means that whoever writes for this company understands the terms and conditions hence you should not be worried because you will never see your work somewhere else...

Read more

Fair-cooperation guarantee

Rest assured that we will always be attentive to your needs and requirements. We belief in the phrase treat your neighbour as you would want them to treat you. We leave nothing to chance and always look forward to a good interaction with each other.. .

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages