Q. What is the best way to fund Aged Care?
A. Aged Care decisions can have wide ranging effects, some important considerations include:
• Will care be affordable in the short and long term
• Should the accommodation payment be a lump sum, daily charge or a combination
• Will a means tested fee be payable
• Is it best to keep or sell the family home
• What will be the impact on Centrelink or Department of Veterans Affairs pension
• Will there be tax consequences
• Are there estate issues.
Q. Do I need advice?
A. The simple answer is Yes. It is important that you seek advice about your individual circumstances.
The decisions you make about how to fund aged care can have wide ranging effects, including on:
• pension entitlement
• cost of care itself
• ability to afford care in the longer term
• the amount of money left to your estate
Financial arrangements can vary within facilities and you may need to look at other options better suited to you and your family.
Q. How we will help?
A. We can help you with your aged care choices by:
• Identifying fees and charges that will apply to you
• Evaluating the affordability of aged care in the short and long term
• Determining your entitlement to a Government pension and other benefits
• Discussing the options for meeting your aged care costs
• Providing you with comprehensive analysis of your options so that you can make informed decisions.
For more information, please contact our friendly team.