Aged Care Support With Barwon Financial Planning

 
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At Barwon Financial Planning, our team regularly assists families considering Aged Care.

We take the time to understand their financial goals as well as their questions and concerns. We have a comprehensive understanding of financial regulations and opportunities, as well as relationships with Aged Care providers and other industry stakeholders.

We work hard to provide clear, tailored advice to help achieve the best possible outcome.

Here are some of the things to think about when considering Aged Care:

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Personal Considerations

Finding the right residential aged care home is very important. Before making the move:

  1. Take the time to visit and get a feel of the centre – the atmosphere and moods of the residents and staff.

  2. Does the home provide the level of care needed for you or your loved one?

  3. Maintaining a sense of community is important, consider a home located close to family and friends.

  4. Lastly, if you find the right home, put your name down even if you are not quite ready to move in.

Do You Need To Sell The Family Home?

One of the most common questions we come across when it comes to aged care, is, “Do we need to sell the family home”?
Parting with the family home is as much an emotional decision as it is a financial one. The decision to keep, rent out or sell the family home will impact the ongoing cost of care, as well as any Centrelink entitlements you or your loved one may receive.
Every situation is different, but the short answer is no, you do have options. Speak to us to find out about yours.

Financial Considerations

The costs of moving into care can be very confusing for families.  Especially when terms like RAD, DAP and permissible interest rates are used. 
Each aged care home sets their own accommodation/entry fees and can range anywhere up to $550,000.  Determining how to fund these costs can leave some families feeling quite overwhelmed.
As qualified financial advisers, specialising in aged care advice, we stress the importance of getting the right advice and support. 
Developing an aged care plan tailored to your individual circumstances can provide you financial peace of mind so you can focus on what’s important to you, the health and wellbeing of your loved ones.