Going into aged care is never in anyone’s life plan – but circumstances often make it the best option. Preparing and entering aged care can be a stressful time, which is why we’re here to help take the confusion out of the financial side of things.
What is aged care financial planning?
Aged care financial planning involves helping people make sense of the aged care system so that they can make sound financial decisions. The earlier you start planning, the longer you and your family have to figure out how to pay for it and make the best decision.
Aged care fees
- Daily care fees – These fees are a contribution to daily living expenses such as meals and nursing and personal care.
- Daily income-tested fees – There are based on an income assessment. Full pensioners are not required to pay this fee.
- Accommodation bonds – These cover your aged care accommodation. They’re an upfront cost based on factors such as assets, availability and location.
Let’s discuss aged care
There are so many things to consider when planning for aged care. Looking at the financial elements can be particularly confusing. We’re here to answer all of your questions, look at your unique situation and advise you of all of your options.
We help many clients through the transition into aged. This help includes providing Department of Human Services support, such as looking at Centrelink benefits, and working with clients who are considering aged care or a retirement village for their parents.
Common questions we’re asked include: “How do I pay $455,000 upfront and cover the ongoing costs?”, “How will it affect my mum’s pension?” and “How can I minimise the costs while still getting great care?” We can help you figure it all out and even negotiate for you.