From today (1 July 2014) the aged care system in Australia undergoes massive change. The Living Better, Living Longer Aged Care reforms become law, after five years of industry & community consultations. Two federal governments, three Prime Ministers and countless reviews later the moment has arrived. How will it affect you? We make some predictions below with our post Nursing Home Fees Up? New Aged Care Laws...
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Like most things in life, when it comes to aged care some forward planning helps. The process of admission into nursing homes is different for everyone. In many cases, mum or dad’s health deteriorates slowly over a long period of time and families have plenty of warning to get prepared and seek information. Our free guide to aged care finances is a useful resource for...
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As financial planners who specialise in aged care advice, one of the most common questions we get asked is: do I need to sell my home to pay the aged care bond and nursing home costs? The quick answer is ‘maybe’, but increasingly ‘no’. What do I mean by this? First, let’s start with the typical problem. You or a family member have been confronted...
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Mum or dad are fine one day, then suddenly they’re in hospital and your local ACAT (aged care assessment team) are saying they need permanent residential care in a hostel or nursing home. It can be quite a shock. Especially when you’re confronted with the costs. One of the first questions many families ask when an elderly relative is assessed is: what is an accommodation bond...
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We hear this a lot. It’s probably the most common refrain from people experiencing the aged care process for the first time. And it’s certainly the main reason people approach us for help. Yes it is complex, but mistakes and oversights by the resident & their family can make it much, much worse. We’ve been providing aged care financial planning advice to Sydney for years...
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Today, I’m delighted to officially launch the website and blog for Sydney Aged Care Financial Advisers. My colleague Michael Johnson and I have been providing specialist financial planning advice for people going into care for several years now. Some months ago we identified an opportunity to create a new brand within the firm that more fully reflected our focus on aged care. Our directors Josie...
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