Aged Care

When a loved one transitions into aged care, it can be an emotionally complex and financially challenging time. One of the most important decisions that families face is how to fund a loved one’s accommodation within an aged care facility. Unless the resident...

Entering aged care marks a significant life transition. One that brings a mix of practical, emotional, and financial considerations. Amid the focus on accommodation choices, health care needs, and managing finances, one crucial aspect is often overlooked: maintaining...

How does a jointly owned property affect aged care fees? Julie contacted us because her mother needed to enter residential aged care. They jointly own a property and recently found out there's no exemption in their situation—so the property will be treated as an asset...

When considering aged care for yourself or a loved one, one of the biggest questions is: Can I afford it? The first step in answering this is understanding the various aged care fees and costs, particularly accommodation expenses. What are accommodation costs?...

Moving into aged care can be both an emotional and costly experience. When a couple requires care at the same time, many prefer to move in together on the same day to avoid separation and to support each other. While this makes emotional sense, the financial...

Most people with assets will pay more for aged care if they enter the system after 1 July 2025. Back in October, we shared information about the aged care fee reforms aimed at enhancing the quality and sustainability of aged care in Australia. Now, with more details...

A common question from families transitioning a loved one into aged care centres on asset declaration, particularly about the family home and jointly held assets. Families often feel uncertain about what must be declared for the aged care fee assessment. In general,...

On 12 September 2024, the Government proposed legislation to aged care fee changes aimed at enhancing the quality and sustainability of aged care in Australia. These proposed reforms are also set to impact the fees associated with home care and residential care...

Occasionally, people want to change aged care homes. Moving to a new aged care home can offer many benefits for residents, such as being closer to family or enhanced services. However, it is crucial for decision-makers to fully understand the financial implications of...

Moving into residential aged care can trigger a range of emotions, particularly when decisions need to be made about the family home. The home is a major financial asset, and many people believe it should either be kept in the family, or its value preserved for future...

When families get together, there are things we notice about our ageing loved ones but we’re reluctant to say anything. We notice that Dad might be starting to forget things or Mum is having difficulty getting out of her chair and seems a bit uneasy on her feet. Any...

As we move through the various phases of retirement, our lifestyle and care needs will change. At some point, we or our loved ones will need varying degrees of assistance, and it is important to understand the emotional, financial, and practical challenges of caring...

When entering residential aged care, you are likely to come across a multitude of acronyms. This can be overwhelming, and to help make the change easier, having a clear understanding of what the fees in aged care are and how they apply, can certainly help. What are...

Life is filled with changes. But with preparation and good advice, you may be able to manage the changes more effectively and minimise the stress. In this article, we highlight five aspects that couples may need to think about and tips to help you to adjust when a...

Many retirees want to help younger family members by gifting part of their savings or assets. However, if things go wrong in the future, the joy may turn to grief. Gifting may benefit children and grandchildren, but it could also have significant impacts on a...

Taking steps to prepare for older age earlier in life, as well as during the retirement years, has been shown to improve the chances of positive wellbeing across physical and mental health, financial security, and social relationships. This was a finding from a recent...

Are you currently an informal carer for an elderly parent, relative, or friend at home? With the number of Australians aged over 85 and the number of centenarians set to triple and increase six-fold over the next 40 years, many Australians are becoming informal care...

Accommodation Interest Rate is increasing. When it comes to paying for aged care accommodation, understanding the complexities can be overwhelming. There are multiple payment options that provide flexibility when arranging aged care accommodation, including lump sum...

Navigating the complexities of residential aged care can be a daunting task, especially when it comes to understanding the finances involved. One crucial aspect of this process revolves around Refundable Accommodation Deposits (RADs), which play an important role in...

We often hear from our clients that moving to a retirement village is a lifestyle decision. When looking to downsize, they tell us there are several benefits. This includes the ability to continue to live independently, socialise with like-minded people and provide...

Navigating the aged care system can be challenging and overwhelming. There are several pitfalls that can trip you up along the way, from unexpected costs to unsuitable care. By being aware of these common pitfalls and taking steps to avoid them, you can ensure that...