Aged care financial advice

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Aged Care Financial Advice.

Understanding how to navigate the complexities of arranging care for yourself or your loved ones when independent living is no longer an option can be a daunting task. To ensure your future is filled with care, security, and contentment, it's crucial to access the right information and advice.

Aged care financial advice involves addressing a range of complex and unique issues that necessitate careful consideration:

Home care

Providing an overview of Home Care Package subsidies from the Federal Government.
Clarifying the calculation of the basic daily fee and income-tested fees, which can affect the hours of care received and financial stability.
Presenting strategies to facilitate fee payments and manage cashflow.
Guidance on obtaining an ACAT assessment.

Residential care

Choices for covering the accommodation payment (room cost), including Refundable Accommodation Deposits (RAD), Daily Accommodation Payments (DAP), a combination of RAD and DAP, and using DAP from RAD.
Qualification criteria for low-means residents, leading to exemption from accommodation payment and receiving a subsidized accommodation contribution from the Federal Government.
Clarification of how the basic daily fee and means-tested fees are computed and their implications for Age Pension benefits and financial stability. Strategies for handling initial expenses and ongoing fees.
Considerations regarding the family home.

How does it work?

At Smart Private Wealth our dedicated Aged Care Advice team is here to help you navigate the complex aged care system while providing well-founded financial guidance.

We deliver comprehensive advice tailored to your individual situation by:

Demonstrating potential government subsidies for your aged care expenses
Evaluating various payment alternatives for your home-based or residential care
Offering in-depth cash flow projections factoring in applicable tax offsets and Centrelink exemptions
Predicting future asset values for your beneficiaries
Modeling the effects of concessions related to your home.

Live the life you imagine.

Planning in advance allows you and your family the time needed to make well-informed choices that will positively impact your future well-being.

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