Advice around aged care for you or a loved one.

Moving into a nursing home can be a tough and highly emotional decision. With around 80% of residents moving in straight from hospital, it is often something that also needs to be done quickly, with very little time for planning. In a changing and complex area, there are many different options and considerations - understanding these can provide peace of mind and empower you to make sound financial decisions.

Common questions include – how much does it costs to get in (average cost of entry around $400,000), how long does someone usually stay there (average of between 2-3 years), what are the ongoing costs involved for care and other services, what am entitled to from the Government – will my Centrelink reduce or stop altogether and how will I manage to pay for all of these expenses?

Another major consideration is the family home and whether to sell this asset or keep it and rent it out - there could be Centrelink benefits for a period depending on the path you take.

How can we help?

We will understand your current position, what is important now and ongoing, the financial implications of making different decisions and how to maximise Government entitlements and potentially reduce ongoing care fees.

We will help manage the ongoing cash flow considerations - should you pay the upfront accommodation deposit or as a regular daily payment? If my partner is still living at home – how do we make sure their cash flow needs are being met, can I maintain health cover?

Other considerations..

Having Enduring Power of Attorney (financial) and Enduring Guardianship (medical) is critical to remove complications, delays or additional costs in making decisions for loved ones. Having an up to date Will also ensures that your assets go where you want, at the time you want – potentially in a tax effective fashion.

Discover how our process works or book an appointment to discuss your situation today.