Age Care

Age-Care-img-1Aged care is a serious matter, one fraught with emotional and financial hurdles for everyone involved. But in an ageing population like ours, finding and paying for the right type of care is something we all need to prepare for.

Age care costs can vary enormously between facilities and from resident to resident. Understanding the rules, so that costs are minimised and investment outcomes are maximised is a specialist task and one that you should seek help with. Get it wrong and you could pay thousands in additional costs and lost pension payments. Additionally, the correct structuring of investment assets can mean they grow rather than depreciate, during the time a person is in aged care. This latter aspect is obviously an important consideration for estate planning.

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Age-Care-img-4Families who have a member in need of Aged Care.

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  • To obtain sufficient knowledge upon which to get the best outcome for your family member.
  • Effective funding. Accommodation Bond, Accommodation Charge, Retention amounts, Daily Care Fees, Income Tested Fees, Extra Service Fees? Finding your way through the maze of these fees and charges is daunting and can be confusing.
  • Even if youve never dealt with Centrelink before, they or the Department of Veterans Affairs (DVA) plays the central role in assessing your level of income and assets, which in turn determine level of fees you pay and the maximum level of accommodation bond for pensioners and self-funded retirees.
  • Questions arise about selling the family home. Or renting it out, or borrowing against it to fund aged care? Should you do this? What impact will the capital or the income have on your fees and charges?
  • The Age Care facility? Can fees be negotiated? Sometimes its possible but what and how will it affect your fees and pension?
  • Structuring your assets and income correctly before seeing Centrelink or a facility can save you thousands of dollars.

 

Should you have any further questions please click here to email us.

Age-Care-img-5The earlier that this process is started the better.

Talk to us before you approach Centrelink or an Age Care facility. We will assess your overall situation and recommend the best way to structure your assets/income for the best outcome both with the facility and Centrelink and, as far as possible, preserving your capital.

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Advice ranges from pure information/education through to specific strategy recommendations and on to support and assistance with negotiations and placement.

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Age-Care-img-3Everything starts with our first meeting.

Once we have a full picture of the situation and discussed the areas of advice required, we will prepare a written Statement of Advice for you. This will be the document from which others follow as Statements of Additional Advice or Records of Advice. The journey continues until such time as you no longer need our advice.

We strongly recommend that family members are involved at all times.

There are cases where information will be required from third parties. We can facilitate this with your written permission.

We do not pass any information to others without your written consent.

Should you have any further questions please click here to email us.