Assisting a loved one into an Aged Care facility is a stressful time for everyone involved.
It can be unexpected and there can be resulting time pressures to make big lifestyle and financial decisions on behalf of those going into Aged Care.
Structuring assets correctly while a resident is in ‘respite’ (typically the first 28 days of residency in the Aged Care facility) is essential to ensuring the cost of care is minimised while cash flow requirements are met by maximising social security entitlements.
We help take the stress away from the financial aspect of this process by:
- Explaining industry jargon in plain terms to increase your knowledge and understanding of the process and relevant legislation
- Completing an accurate analysis of the cost of Aged Care if no restructuring of the resident’s assets were arranged
- Providing advice on restructuring to reduce the cost of care and to ensure cash flow requirements are met
- Liaising with the chosen Aged Care facility, the Department of Human Services (DHS) and the Department of Veterans’ Affairs (DVA) where required
- Assisting with outlining appropriate estate planning and wealth transfer strategies
Contact us now to arrange a meeting to discuss your personal circumstances (or those of someone you are assisting) to discover what can be done to improve the financial outcomes of a move into residential aged care.