Moving a loved one into an aged care facility is not easy
Once the decision arrives to move a loved one into an aged care facilities there are many possible issues that can arise.
On top of all this, you may need to consider:
- What would be the best location?
- How will we fund it?
- Will they be well looked after?
- Are they going to be happy?
- I should be able to look after them but we just don’t have space or time
These factors can cause anxiety for family members, as well as having to deal with companies, unfamiliar terms in agreements, and government departments.
It’s not easy, and gaining the right advice from people who have experience dealing with these matters is crucial to maximise benefits and reduce the pressure felt.
An Aged Care Specialist Financial Advisor can help to streamline some of the many issues and decisions you will have to make.
These main decisions include:
- Funding and reducing aged care accommodation payments
- Helping to negotiate with the facilities
- Creating strategies to minimise taxation implications
- Maximising government support such as pensions and aged care assistance
- Strategies for the transfer, sale or rental of the residential home
- Estate Planning – Discussions around wills, Powers of Attorney and Enduring Guardianship
At Oracle Advisory Group, we specialise in this area of advice, we have extensive experience, and can help to simplify the process to help you understand the options.