Aged Care

Using the family home to fund aged care can be a complicated decision, with many interdependent factors to consider.

Understanding the fees and costs

Whether considering options for yourself or deciding how best to help someone close to you, residential aged care can be a complex area requiring careful thought. The uncertainty surrounding where to move, how much it will cost and where the money will come from can be overwhelming and stressful.

Aged care can be a tricky area to navigate, and requires careful thought. To help you or your loved one obtain the best outcomes, this three-part guide will take you through the process of applying for, receiving, and paying for suitable aged care services.

The Age Pension is an important financial safety net for many older Australians. It’s the most common type of pension you can receive from the Government. Around 65% of people in retirement rely on some form of Government pension or allowance as their main source of personal income1.

Taking steps to address danger signs early is not as traumatic as events that may play out following a dramatic change of circumstances.

This is an important tool in the context of COVID-19 and its impact on aged care homes, but one should not wait to enter hospital or aged care to implement a plan.

Understanding the fees and costs

• If you are looking at care options for yourself or a loved one either at home or at a local aged care facility, here’s some things to consider. • The earlier you think about aged care, the more in control you are, and the better outcome you can hope for. Aged care is not just for the elderly. • Aged care is a part of a whole financial plan. It has become complex and for some confusing. Throw in that it is a highly emotive topic and you may need guidance to reach the best outcome for yourself or family members.