Moving yourself or an elderly relative into aged care can be a complicated and stressful experience. It can be made even worse by the complex financial implications resulting from making a wrong decision regarding any investments or the family home. Please don't complete the SA456 Assets and income form until you have spoken to us first.
We can help you determine the best alternative and explain the outcomes of all the different options that you have. There can be a considerable difference in the amount you pay in care fees and the amount of any age pension that you might receive. Structuring your finances in the most advantageous way can take a huge burden off the whole family.
Under the current rules, the numerous fees can be broken into 2 kinds of costs. The best way to describe them is an accommodation cost, like buying a house or paying rent, and living expenses cost. This is no different to everyone else in the community. These costs are normally considerable and some are heavily subsidised by the federal government, who currently spend over $12 billion a year on aged care.
Our role is to help you maximise what you are entitled to receive and minimise what you have to pay for the care that you want, along with making sure that your investments are suitable for your needs.
Our experience in this field also allows us to help you choose a facility that might better suit the personality or condition of the person moving in, thus saving you some of the leg work.