As the golden years approach for our loved ones, the responsibility to provide them with the best possible care becomes even more crucial. It goes beyond merely finding a suitable living environment. The true essence lies in ensuring they lead a life filled with respect, comfort, and top-tier care. While transitioning to care facilities is often a necessary step, it comes with its own set of emotional and financial challenges. Setting aside the heartfelt emotions, there’s a plethora of logistical aspects that need attention. The initial step of obtaining approval from the Aged Care Assessment Team (ACAT) is just the tip of the iceberg. Many families find themselves navigating a maze of rules, entitlements, and Centrelink assessments.
To proficiently navigate this complex journey and make well-informed choices, consider these 5 essential questions:
- Diverse Living Options: Among the various accommodation options, which one aligns most with your loved one’s wishes and needs?
- Financial Considerations: Besides the initial fees, what are the ongoing costs associated with their care?
- The Family Home: Is selling it essential, or are there other financial options to explore?
- Pension Implications: What impact will the move have on pension eligibility and the subsequent amount received?
- Ensuring Steady Financial Support: What strategies can you implement to ensure a consistent income to cover their care-related expenses?
Embarking on this journey doesn’t mean you’re on your own. Our experienced team, equipped with knowledge and expertise, is here to support you at every step. Our advice is backed by one of Australia’s leading financial advisory groups. Whether you’re leading this transition or assisting a family member, know that we’re with you.
To engage in a detailed discussion with our Financial Adviser, ring 02 4648 0431. Early and thoughtful planning not only eases the transition but also ensures your loved ones receive the outstanding care they truly deserve.