October 2024
Four financial tips and traps for people entering aged care
There is a little-known rule that can work in your favour if you find your means-test assessment is dragging on.
August 2024
Changes to aged care fees are likely. This is how it might look
As providers face financial pressure, one option might be to increase the lifetime cap applied to means-tested fees.
February 2024
How to avoid making aged care decision in the car park
With a plan in place, families can respond more quickly to changes, rather than last-minute discussions.
October 2023
The $700,000 deposit that can save you $57,000 in fees
You may balk at handing over such a large sum of money moving into residential aged care, but it is refundable and saves on other costs.
The government subsidy you can get no matter how wealthy you are
If you want to stay in your own home as you get older, understanding how the finances work – and what support is available – can help you make the right decisions.
September 2023
Family help and other mistakes to avoid in aged care
Errors with planning and funding can be costly and difficult to rectify. Here is what you need to know.
August 2023
How impatient kids rip off their parents
Getting an early inheritance and taking over the family home are two dangers when children have an enduring power of attorney for an ageing mum or dad.
July 2023
Don’t go into shock when you get first aged care bill
Cash flow plans can be thrown into chaos if the first invoice shows much higher fees than expected. This is what to do.
June 2023
Five tips to help you when your spouse moves into care
In what is often a difficult time for the family, here is how to navigate the finances, legalities and what happens to your home.
May 2023
Three hacks to prevent you losing a bank transfer to a cyberattack
A move into residential care often involves transferring hundreds of thousands of dollars to pay the deposit. This is how to avoid losing money to a scam.
Aged care boost welcome but fee increases likely to follow
While increases in worker pay and more home care packages are welcome news, finding providers could be tricky.
April 2023
What self-funded retirees need to know about aged care
When moving into aged care, you may choose not to disclose financial details – these are the pros and cons.
March 2023
When a family loan can go badly wrong
Think carefully about loans from adult children to pay aged care deposits as this can substantially increase annual fees.
December 2022
Think before you gift
Gifting to family may give you joy, but if things go wrong as you age it may just bring grief.
How super can kick in as you get older
Knowing how your SMSF assets can be strategically used as your needs change will give you more choices.
November 2022
What happens to the family home when you move into aged care
Your abode is likely to be your largest asset, so it is important to understand how it affects the financial side of moving into residential aged care.
October 2022
Why it pays to know the real impact of higher aged care fees
New daily costs mean a decision not to disclose your finances could be more expensive than you may realise.
August 2022
How to manage the move from retirement village to aged care
There are financial implications when transitioning from one to the other, so legal advice should be sought.
July 2022
How your deposit is settled when you leave aged care
Lump sums that you pay for a room in residential aged care come back to your estate. This is what you need to know about when and how your money is refunded.
June 2022
Should you buy or rent your aged care room?
Prices can make the prospect of a move into aged care seem daunting and unaffordable, but here are some tips to make an informed decision.