Covering the costs of Residential Aged Care
To work out the amount of your fees and how to pay them you will need to evaluate a range of financial strategies and choices. Each strategy has the potential to change your assessable assets and income. which in turn can affect your aged care fees and your age pension entitlements. It is most important to ensure you create enough cashflow and protect your estate.
Some important questions you need to answer are:
- What will you do with your former home?
- How will you pay for accommodation?
- Can you create cashflow to cover your daily costs?
With so many interdependent variables it can be hard on your own to analyse all your options and decided which ones are most suitable. Working with your adviser, you’ll be able to confidently make well informed choices to help you access the care you need at a cost you can afford. To discuss how we can help your family find the best solution contact us on (07) 5437 9900 for an obligation free appointment.