Working through Aged Care matters is like a maze – there are so many choices which can be overwhelming and confusing for families. From July 1, 2014, an entirely new set of eligibility rules came into play, adding even more complexity to an already complicated area.
Decisions regarding accepting a place in an Aged Care facility usually have to be made quite promptly. Therefore it is prudent to have already addressed the financial position of the person involved so that when the time comes, an informed decision can be made.
Rarely does someone want to go into care. In fact, in many cases it can be a source of much angst for not only the person entering but for the family members trying to assist with this transition. The time and emotional strain of finding a suitable place for your loved ones can be quite overwhelming. Add to this financial complexity of the aged care and Centrelink eligibility rules and you can see that it is an area where assistance should be sought.
We can help you and your family to understand your options when you are faced with the task of transitioning a loved one into care.
We can guide you through the many questions you may have including:
- What accommodation can I afford
- Will my financial position improve or deteriorate
- Could I be getting more Age Pension
- What will the fees be and can I reduce them
- What are the options with our home/other property
- What is the impact on my beneficiaries after I pass away
- Can I manage my cash flow / fees
- Can I afford the extra services
If you have asked yourself any of the above questions and are unsure of the answers we will be able to assist you. Our advice and assistance can include the following:
- Options available for the family home or other property – should you sell or keep?
- Strategies to reduce the means tested fees
- Options available to fund accommodation payments
- Strategies to increase Centrelink/DVA entitlements
- Completing Centrelink paperwork
So if you are contemplating your options, consider contacting us for some financial advice. We will help you come to grips with the complexity of the system and help you make informed financial decisions.
We can assist in helping adult children successfully confront the common financial challenges faced by a parent entering residential aged care. It will provide peace of mind and financial certainty for all family members impacted.
Contact us to arrange a time to discuss your Age Care matters.