Entering aged care as a resident (or being part of the residents family) is usually a very overwhelming time for all. Seeing an aged care financial planner should be one of the first things you do. There is a lot to navigate and understand and quite substantial financial obligations. Entering aged care can be a very unsettling and confusing time.
Here are five people to have on your side when navigating through the aged care process:
This could be your GP or the doctor treating you in hospital who is a trusted figure. They will advise if an aged care facility would be the next step in the patients care. You are always in your rights to get second opinions if you wish. There will be a lot of descisions being made and you and your family need to feel comfortable and supported.
Aged Care Assessment Team
If care needs indicate the person need to enter an aged care home, they wil be assessed by ACAS (ACAT in other states). These assessors are usually a nurse, social worker or other health care professional. They will make a time to come to the patient and speak about their current situation and assess for government funded aged care services. Once an assessment is completed, you will receive an outcome and have a support plan showing the care approved to receive. You can contact ACAS here.
Aged Care Financial Planner
Engaging an aged care financial planner early on in the process ensures a smooth transition into aged care. By engaging a financial planner, they will assist you to go through all your options thoroughly. For all of our clients, we will ensure that entitlements from Centrelink and any other entitlements are correct. Aged care facilities will require a RAD (Refundable Accommodation Deposit) which can even be around one million in inner city areas. By recieving professional advice on how to best afford this given your personal circumstances, you can make informed financial choices.
A solicitor can assist with any wills, power of attorney or house sale if require and a solicitor is particularly important when there is a lot of money or assets involved.
Real Estate Agent
You don’t have to sell the house to afford aged care, many people choose to keep and rent it out. If you do decide to sell or rent, you will need a well reputable agent to facilitate this so we suggest to speak to family and friends as many people have an agent they have previously used and recommend.
Claudia, Angela and the team at Aged Care Specialists Vic have been dealing with families for years going through this process. They will provide a listening ear and guide you through it. They can also refer you to other professionals if needed (eg Solicitors and Aged Care Placement help. We are experts in the area and our long list of testimonials and Google reviews reflect this.
You can contact us here.