Aged Care Advice
Empowering Your Aged Care Journey
Elderly care is a significant life transition that can be overwhelming and uncertain. We understand that each individual’s journey is distinct, and that’s why we offer comprehensive services encompassing in-home care, residential placement, elder care, and government benefits. Our goal is for you to receive expert advice and support to help you thrive during this critical phase of life.
Secure Your Aged Care Future with Expert Financial Guidance
Do you have an elderly care plan in place?
Will your plan provide the right care for yourself or a loved one?
Do you need an experienced partner to help you with options and make the best choice?
With our team of caring professionals, you can rest assured that you’ll receive the personalised attention and expert guidance you deserve. We are committed to empowering you to make informed decisions about Aged Care by helping you:
Navigate Financial Complexities
Consult with expert aged care financial advisors who can assist you in navigating the complex financial aspects and paperwork involved in transitioning into elderly care. They specialise in creating personalised retirement planning strategies to optimise your pension entitlements, minimise aged care fees, and preserve your assets.
Accessing Government Support and Entitlements
Make your move to aged care more financially secure with expert guidance by consulting with our financial advisors can ensure you access all eligible government support and entitlements, such as the aged care pension. They will guide you through the process to ensure you are maximising your benefits effectively.
Keep Assets Safe & Secure
Those advanced in years may be vulnerable to financial abuse or unscrupulous individuals. We help by ensuring that their assets are safe and secure, providing advice on appropriate investments, and discussing the risks associated with different financial products.
Develop Tailored Strategies
Collaborate closely with aged care financial advisers who work to understand your unique financial situation and objectives. Together, develop strategies to meet your aged care needs while also safeguarding your family’s financial interests through estate planning and other measures. Ensure your plan aligns perfectly with your goals and priorities.
Ongoing Support and Administration
Delegate all paperwork and administrative tasks related to your aged care finances to advisers. They will liaise with government departments, assess service suitability, and regularly track your asset performance to ensure everything is managed efficiently and effectively. They help families find the best elder care based on needs and preferences.
Strategies for a Smooth Aged Care Journey
Transitioning into aged care need not be stressful. Our expert team understands the challenges and complexities involved in this important life change. With personalised support and guidance, we can help you navigate this transition with confidence and peace of mind. Let us make this transition smooth and worry-free for you.
Our financial financial advisers can help you with the following strategies when transitioning into Aged Care:
- Offer solid financial guidance to navigate the complexities of the aged care system, ensuring individuals understand the financial implications of their decisions.
- Assist individuals to understand how the government may subsidise aged care costs, providing insights into payment choices for both in-home and residential care.
- Create comprehensive cash flow projections over five years, integrating tax offsets and Centrelink exemptions to help individuals plan for their financial future effectively.
- Estimate future asset values for beneficiaries, ensuring that individuals have a clear understanding of how their financial decisions will impact their loved ones.
- Outline the various accommodation payment options available, such as Refundable Accommodation Deposits (RAD) and Daily Accommodation Payments (DAP), helping individuals make informed choices based on their financial circumstances.
- Assist in strategically reallocating assets to minimise the impact of aged care costs on an individual’s financial security, ensuring long-term financial stability.
Aged Care Advice Benefits
Enjoy the Benefits of Personal Financial Advice from Central Coast Financial Planning Group
Tailored Solutions
Receive personalised financial strategies tailored to your unique circumstances, ensuring your aged care plan aligns perfectly with your goals and needs for a secure and comfortable future.
Expert Guidance
Access expert guidance from experienced advisors who specialise in aged care planning, offering you comprehensive support and knowledge to navigate the complexities of financial decisions during this important life transition.
Peace of Mind
Relax knowing that your financial future is in good hands, with a dedicated team committed to optimising your financial well-being and ensuring a smooth and stress-free transition into aged care.
Maximised Benefits
Maximise entitlements and benefits with strategic financial planning, ensuring that you take advantage of available resources and opportunities to improve your quality of life and financial security in aged care.
Long-Term Security
Secure your financial future with a robust plan that provides long-term stability and protection, giving you confidence and assurance that your finances are well-managed and optimised for aged care.
It’s never too early or too late to start planning for your Aged Care Transition
It’s invaluable to start planning for your aged care transition regardless of your age. Early planning allows for more options, control, and time to make informed decisions.
For those already in need of care, planning can still provide benefits by optimising financial resources, ensuring quality care, and reducing stress for both individuals and their families.
Central Coast Financial Planning Group is here to help at every step of the aged care planning process.
Starting the planning process early or at any stage lets you anticipate issues, secure your future care needs, and relax knowing you have a plan.
FAQ
Frequently Asked Questions About Aged Care in Australia
What types of fees apply to residential aged care?
Main residential aged care fees include the Basic Daily Fee, Means-Tested Care Fee, Extra Services Fee, and Accommodation Payment. Means-Tested Care Fee and Extra Services Fee depend on the resident’s assets and income, whereas the Basic Daily Fee covers daily living expenditures. The Accommodation Payment covers the room.
How do I know which aged care fees I have to pay?
The costs you pay are determined by whether you require respite or permanent care, as well as your level of assets. Supported residents with limited assets only pay the Basic Daily Fee, whereas partially supported and unsupported residents may also pay a Means-Tested Care Fee and an Accommodation Payment.
What is an aged care home, and what care and services do they provide?
An aged care home provides accommodation, personal care, nursing, and other services for older people who can no longer live independently at home. This includes meals, laundry, cleaning, and social activities to meet various needs of older individuals. Aged care homes are also known as residential care or nursing homes.
Am I eligible for a government-subsidised aged care home?
To be eligible you must meet the age and care needs requirements. You need to be over 65 (or over 50 for Indigenous Australians) and unable to live independently at home. You must undergo an assessment by an Aged Care Assessment Team (ACAT) to determine your eligibility and care needs.
How do I check the quality level of an aged care home?
All government-funded aged care homes have a star rating from 1 to 5 based on factors like resident experience, compliance, staffing, and quality measures. Use My Aged Care search tool to find any elderly care home’s star rating. This helps you choose an aged care home that matches your needs.
Navigating Your Finances with Precision
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