Elderly Australians
How we help the elderly
Obtain an optimal care environment. Strategically manage assets.
Gain peace of mind.
We support individuals and their families considering the transition into residential aged care. Reduce stress and gain confidence to make sound decisions with a customised plan based on the desired residence and financial circumstances.
Our advice includes:
Cashflow analysis
Understand lifestyle costs and anticipated care costs, ensuring regular income is sufficient to sustain ongoing expenses.
Accommodation funding
Navigate the available options to fund room costs to determine the most appropriate structure for your needs balancing available funds, cash flow position and projected overall financial outcomes.
Assets structure
From deciding on if to keep or sell the family home and what to do with existing investments, our analysis will consider which approach will enable ongoing care costs to be funded whilst balancing the longevity of assets.
Services Australia & Centrelink benefits
Structure assets with an intent to maximise any government assistance available.
Estate planning
Ensure future beneficiaries and family intentions are considered throughout the move into care - balancing both short and longer-term financial outcomes.
Frequently asked questions
What are the main fees in residential aged care?
Common fees include the basic daily fee, means tested care fee, accommodation payment (RAD or DAP), and optional extra service fees. Our plans consider the affordability of your desired residence costs and determine the best approach to funding the fees based on your individual circumstances.
What is a RAD and DAP and how do they work?
The Refundable Accommodation Deposit (RAD) is a lump sum payment for residential aged care accommodation. It is refunded (minus any agreed deductions) when you leave the facility. This is similar to paying for your room upfront.
A Daily Accommodation Payment (DAP) is an ongoing fee if you choose not to pay the full RAD upfront. It functions like “rent” and is non refundable. This is calculated as a percentage of the amount of RAD that remains unpaid.
Will I lose my Age Pension if I move into aged care?
Not necessarily. Your Age Pension, or alternative Centrelink entitlements, may change depending on your assets and income, but strategies exist to help maintain payments, reduce the impact or at minimum replace the income source. A holistic view of your financial position is taken into account when delivering advice.
We want to obtain financial advice on behalf of our family member (or similar). Can this be done?
Yes, in fact, the majority of our aged care advice is delivered on behalf of the person moving into aged care’s Enduring Power of Attorney (Financial). Subject to having the appropriate authority, we often deal with families with significant value coming from the comfort of knowing that they are making wise decisions on behalf of their loved ones.
Do I need to sell my home to pay for aged care?
Not always. You may keep the home, rent it out, or use other strategies such as varying how you pay for your room. Our advice is designed to consider your preferences with your home and provide comprehensive analysis to allow you to make informed, and financially sound decisions.
We have some initial questions we’d like to ask so we know if advice would be valuable to us. Is this possible?
Yes, a 15-minute phone call is available with our aged care specialist to answer any initial questions you may have. It will also provide you with an understanding how the advice process will work and the value received from our advice.
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