Margaret’s journey through life’s sudden changes

Margaret* and her husband had always imagined a relaxed retirement. They loved spending weekends gardening and planning family get-togethers. In late 2023, they sold their home with plans to downsize and move closer to family, a decision that felt right after COVID. They were looking forward to more time with their children and grandchildren.

“We thought we had everything sorted,” Margaret told me. “A smaller home, family nearby, and a comfortable retirement.”

But life had other plans.

The unexpected turn

The couple were self-funded retirees and Margaret’s husband had always talked about his Will and how to provide for his children from a previous marriage. What they hadn’t planned for was aged care.

When her husband’s health declined suddenly, everything changed. Margaret found herself making decisions she never expected to face so soon, and without his input. She needed to understand aged care options, manage costs, and still protect her own financial security, all while honouring his wishes for his family.

Facing the aged care maze

The aged care process can feel overwhelming: ACAT assessments, facility tours, fee structures, and financial implications. Margaret told me it felt like a maze. She needed to understand how to afford the right care for her husband while protecting her own financial security and honouring his estate wishes.

My role was to help her navigate each step with clarity and confidence.

Breaking down the decisions

Together, we worked through the key considerations:

• How much to allocate for her husband’s care.
• How much to set aside for a new home.
• The impact on cash flow and long-term security.
• How to structure finances to keep flexibility and comfort.

We also collaborated with her lawyer to make sure her husband’s estate plans were respected and that all family members understood what would happen.

Adapting as life changed

When the house settled in early 2024, I reassessed her position and identified that she could access the age pension, providing some welcome income during a challenging time. Later, when her husband passed away in mid-2025, Margaret was prepared. She knew what to expect when probate completed and the estate settled, including the return of $700,000 from the aged care Refundable Accommodation Deposit (RAD). Because Margaret reached out for support, we were able to implement a clear strategy to manage those funds and replace her income even as her pension ceased.

The outcome

Margaret summed it up simply:

“I don’t think I would have coped without your support.”

Her story is a reminder that planning isn’t just about numbers, it’s about helping people make confident decisions when life takes an unexpected turn.

Reach out if you need support

If you have any questions or need guidance on any aspect of the aged care finance journey, please do not hesitate to get in touch. With a specialist division of financial advisers who are accredited in aged care advice, we have a team that can talk you through the various options and explain the various financial considerations. Our team can also connect you with trusted organisations who can help guide you through the care choices that best align to your unique care situation. Learn more about our Lifestyle and Care team.

*Names changed for privacy

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