It is a common misconception that people are forced to sell their homes to fund a move to permanent aged care. Depending on financial assets outside the family home, assets could be structured to cover the costs without accessing the home equity.Read More
Taking the step to move to Aged Care can be a draining one, emotionally, physically and financially. To make the transition as stress-free as possible, it is important to fully understand your needs and options. Some issues you’ll likely need to consider as you begin planning a move into Aged Care include the actual level…Read More
If you have entered care and are required to pay an Entry Fee you can choose to pay this in one of three ways: A Lump sum payment called a ‘Refundable Accommodation Payment’ or RAD A Regular rental-type payment called a ‘Daily Accommodation Payment’ or DAP Combination of a RAD and a DAP You will…Read More
The changes mainly relate to the fees and charges applicable to Aged Care, which we have detailed below. The removal of High and Low care has also been implemented with Aged Care Assessment now outlining the need for Home Care or Residential Aged Care…
Aged Care advice is typically sought when our parents are in urgent need for care, not as a preparatory measure . As a result a number of preventable issues often arise because no prior planning has been undertaken. Click through to read a short piece about Aged Care advice.
The world of Aged Care is changing. As you may be aware, the Government’s proposed ‘Living Longer, Living Better – aged care reform package’ will turn our existing aged care system on its head. The changes are to be introduced from July 2014.
Whilst a lot of information has already been released, we are still waiting on the final legislation; due in April 2014.
To assist you in understanding some of the major changes to occur in Residential Aged Care, we have provided a summary below. Many of our clients are now facing the challenges of placing parents in Aged Care and we specialise in providing advice in this complex area.
If you would like any further information on the topics discussed, please do not hesitate to contact our office and talk to Aged Care specialist Melinda Planken.Read More
If you are considering aged care for someone close to you, there are five questions you need answered to maximise your chances of getting the best care at the most reasonable cost.
It’s a fact of life that many of us will need to one day face the daunting task of seeking aged care for someone close to us. At first the complexity of dealing with the personal, practical and financial issues may seem overwhelming, but there are positive ways to address these issues and there is help available to navigate through them.
Sooner or later many of us need to support a relative who is no longer able to manage independently in their own home.Read More
While the Australian Government provides funding to residential aged care homes to help with the cost of care, most residents will also have to pay certain fees and charges.
There are two main types of costs associated with residential aged care:Read More
The amount of bond paid may have implications on pension payments, ongoing costs of aged care and the assets left to the estate. For example, in some situations, negotiating a higher bond may lead to discounts on fees and charges in exchange for the additional capital up front. This in turn may increase pension payments and reduce…Read More
This useful guide provides information about the different types of aged care facilities available. It discusses the features of varying levels of care as well as giving an indication of the costs you can expect to incur. If you have any questions regarding aged care, please contact our office to speak with Melinda.Read More