Aged care advice
We are living longer and healthier lives.
This is a good thing, but it does mean that we are likely to need more financial resources to continue to enjoy the lifestyle we expect, particularly when one of the big things influencing the trend to living longer is advances in medicine which are generally expensive.
Our expectations around the type of facilities and services available to support us as we age are also increasing.
Recent changes to the way aged care is provided - the "Living Longer Living Better" reforms - are the Commonwealth Government's response to some of the issues facing the aged care system. Changes to the funding of aged care were implemented from July 2014, and while they were designed to make aged care costs more transparent for consumers, aged care remains a highly complex area.
We have prepared a short video which shows the basics of the options now available. Its important to understand that we have not covered all options such as state regulated Supported Residential Services in Victoria and retirement villages. To view our YouTube video click here.
Decisions around aged care, are often made when we are least prepared. Its a complex area and the decisions which need to be made are often emotionally difficult. Families often find themselves in a situation where they have to come to grips with complicated rules very quickly as they themselves are realising that their parents or loved ones need more care than the family can provide.
We can help you and your family to understand your options whether you are looking at entering:
- Retirement Villages
- Home Care Packages
- Residential Aged Care (including extra service facilities)
Our advice and assistance can include the following:
- Options available for the family home or other property – implications of selling
- Strategies to reduce the means tested fees (home care / residential aged care only)
- Options available to fund accommodation payments
- Strategies to increase Centrelink/DVA entitlements
- Completing Centrelink paperwork
- Review Retirement Village contracts
- Review Estate Planning position – Wills & Powers of Attorney
If you need help working through your options and in navigating the Aged Care System, please contact us today.