The process of entering aged care can be one of the most challenging times for both residents and their families. Between health concerns, government requirements and often massive financial decisions, it’s understandable that many people do not know where to start. One of the first steps should always be seeking professional aged care financial advice. With costs in Melbourne often reaching hundreds of thousands of dollars especially Refundable Accommodation Deposits (RADs), which can exceed $1 million in inner suburbs, it’s important to make informed choices.
Here are the five people every family should have on their side when navigating the aged care process in 2025:
1. Your Doctor
Whether it’s your GP or a hospital specialist, your doctor plays a very important role in determining the level of care required. Don’t hesitate to ask questions or seek second opinions – you and your family need to feel comfortable with every decision being made.
2. The Aged Care Assessment Team (ACAS in Victoria)
Before entering residential aged care, an assessment by ACAS (ACAT in other states) is required. These health professionals will visit, review your situation and provide an outcome statement with a support plan. This is your gateway to accessing government-funded aged care. Find out more about ACAS here.
3. An Aged Care Financial Planner
This is where we come in. Engaging a specialist aged care financial planner in Melbourne early makes the transition smoother. We help families:
- Understand and manage RADs, DAPs, and ongoing care fees.
- Maximise Centrelink entitlements and benefits.
- Explore whether to sell, rent or keep the family home.
- Create a financial plan that balances affordability, security and peace of mind.
Every family’s situation is different – which is why tailored financial advice is so important.
4. A Solicitor
Legal matters like wills, establishing enduring powers of attorney and handling property sales can’t be overlooked. Having a trusted solicitor ensures your loved one’s wishes are respected and their assets are protected.
5. A Real Estate Agent
Deciding what to do with the family home is one of the biggest financial decisions. Whether you sell, rent, or retain it, a reputable agent can guide you through the process. Many families choose to seek recommendations from trusted friends and relatives before selecting an agent.
Why Families in Melbourne Trust Us
At Aged Care Specialists Vic, we’ve supported hundreds of families through this journey. (Read some of our reviews here.) Our role is not just about numbers – it’s about listening, guiding and making sure you feel confident in every decision.
We regularly work alongside solicitors, placement specialists, and real estate professionals to ensure you have the right support team in place and can provide recommendations if you need.
