Aged care planning

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Are you considering options for yourself or someone very close to you? This can be an overwhelming decision and these decisions are often made under extreme pressure.

Most people prefer to age gracefully while residing in their own home. There are a number of reasons why it may not be an option for the long term. A rapid deterioration in health can trigger difficulty in managing day to day living. Fortunately, there are many private and government supported services which are available that allow the elderly to remain living in their home for long as possible. A simple assessment by an approved provider means that an elderly individual may qualify to receive government assisted care, including basic nursing and other domestic assistance services.

How much you pay will depend on your financial situation, including whether or not you are receiving an age pension. In some cases unfortunately, health does not permit the elderly to remain at home. An assessment by an Aged Care Assessment Team will assist in this decision to move an elderly individual into a residential aged care facility. There are costs associated with this. It will depend on the financial situation of the client, whether they will need to sell their home or rent their home, source the funds from an income stream or access monies from a term deposit. Whatever is decided, the overall implications on the age pension must be considered.

Residential Aged care costs:

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Aged Care Planning Advisory Services

Investlink Group Pty Ltd has completed a recent snapshot \”Homing in on Aged Care – Newsletter August 2014\” – which discusses the recent changes to Aged Care as of 1st July 2014, and how the new changes have brought the family home more keenly in focus.

We can provide strategies and advice to help you make an informed decision. At Investlink Group Pty Ltd we specialize in assessing this complex area, through giving consideration to aged care living options, the costs, where will the money come from, and the effects of this on age pension payments received from Centrelink.

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