Aged Care Financial Advice in Perth

Moving into residential aged care can be a difficult time for all parties concerned. There are many lifestyle decisions and financial implications to consider.

To enter Australian Government-subsidised residential care, a person must first be approved as a care recipient. In order to determine a person’s eligibility and care needs, an Aged Care Assessment Team (ACAT) assessment must be undertaken.

Read more about ACAT Assessments.

Your adviser at HPH will ensure that you are aware of the different Aged Care Services available and guide you through the complexities of residential care, to help you avoid making costly mistakes.

Issues that need to be considered include:

1

Funding your RAD (Refundable Accommodation Deposit)

2

How to deal with the family home (keep, rent, or sell)

3

The additional means-tested fees or extra services fees that may be applicable

If you or your family member are in receipt of a government social security payment, you will also need to consider how the above affects future payment entitlements.

KEY FACTS

Estate-Planning

At 30 June 2013 there were around 186,278 operational residential aged care places

Estate-Planning

During 2012-13 around 70 per cent of total funding for residential care was provided by the Australian Government

Estate-Planning

At the same time care was provided in approximately 2,200 aged care homes

For guidance through the questions and concerns you and your family have regarding the financial implications of residential aged care, call us on (08) 9200 3123 . There is no charge for your first appointment.

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