Below you'll find a list of all posts that have been categorized as “Resources”
Aged care ratings are quite new in the ever changing world of aged care. Understanding the quality of service provided by care facilities is so important when choosing care for a loved one. The Australian Government has implemented a Star Rating system, introduced in December 2022, to help individuals assess the performance of aged care homes. This system is a …
If you’re looking to downsize, you may want to take advantage of the downsize contribution of up to $300,000. The eligible age changed from 1st Jan 2023 and now the minimum age is 55. This is a significant change that could offer great benefits to those looking to sell their main residence and another imperative to keep in mind when …
Each person has their own circumstances, you may be in a position where you are weighing up if you need to sell the family home to afford aged care costs, specifically the RAD. With so many variables and a lot to consider, there is no simple answer, however providing specific financial advice for aged care is what we do. What …
Firstly, no matter what your circumstances, the Australian government will fund residential aged care ensuring it is accessible for everyone who needs it. The costs to enter vary by home, and the amount of funding towards your care depends on your ability to pay and your financial circumstances. Where do I get started? You firstly need to be assessed for …
Since 1 July 2018 Australian seniors have been able to make what is known as a “Downsizer Contribution” to their superannuation fund of up to $300,000, which means if you are a couple you could get a combined $600,000 into superannuation ($300,000 each) if you downsize. The benefits of the downsizer contribution are that you don’t have to buy another …
With the end of financial year just passed, I thought it was timely to share with you some thoughts around gifting and how it can reduce the cost of aged care. When it comes to residential aged care, many people believe if they don’t have any money, they won’t be able to move in. It simply is not true. Most aged care …
With the end of 2022 financial year approaching, it is a great time to review any Centrelink or aged care entitlements you have. As always, we are here to assist you. If you have any questions about the issues mentioned below, please don’t hesitate to contact us. Here are some things to consider: Applying for Centrelink or DVA benefits The …
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. …
Often the need for an aged care financial planner comes unexpectedly. Mum or Dad gets rushed to hospital after a fall, and the doctor advises it is unlikely they can return home safely. Panic often ensues and a deep sense of overwhelm. How do we afford aged care? How does the system work? What do we do with the house? …
There are a lot of elements to consider when the time comes to choose an aged care facility for a loved one. Here are a few pointers to help guide you when making a choice. Location Often when multiple family members are involved, this is a deciding factor. As a family, think about who will be visiting most often. If …
