If a person in your life suddenly needs to enter aged care, it can come as something of a surprise. The signs that a loved one will soon need aged care are not always obvious — in fact, there are sometimes no outward signs at all. Human health can be a precarious and mercurial thing, which is why it’s so important to make sure you have a plan to provide the older adults in your life with suitable care as soon as they require it. Part of this plan should include a strategy for funding the costs that such care incurs.
Aged care financial services in Eastern Suburbs exist specifically to provide the loved ones of elderly individuals with effective plans to facilitate the care they need. The best aged care financial advisers in the Eastern Suburbs region work closely with their clients to avoid and overcome potential challenges during this process, including the following:
- Accidentally selling a loved one’s home to pay for their Refundable Accommodation Deposit when it is not necessarily required
- Not knowing how to increase the loved one’s amount of age pension entitlements in situations where an increase is available
- Finding lenders who will allow your loved one to borrow money to pay for their Refundable Accommodation Deposit
- The process of renting out your loved one’s home so that they can use the resulting income to fund some or all of their care costs
Why Aged Care Financial Advice in Eastern Suburbs Matters Now More than Ever
New legislation was enacted in January of 2017, which has the potential to change the experiences that future aged care residents and their family members will face. These changes are most likely to affect the following factors:
- Access to ‘home care’
- The length of time people are expected to stay in their own homes
- Lump-sum entry fees for residential aged care
- The overall costs of aged care for most residents
- Aged care fee caps
- The publication of aged care entry fees online
How SACFA Can Help
Understanding how the new legislation will affect your specific case may require professional assistance. SACFA has been working since 2014 to provide detailed and targeted aged care financial planning in Eastern Suburbs, along with up-to-date advice that future residents and their families can use to make responsible choices. We can also prioritise urgent care cases and create financial plans in shorter-than-average turnaround times when circumstances require immediate action. As such, we can offer timely and meaningful support to the loved ones of elderly individuals when they need it most.
Avoid making costly errors and move towards brighter futures for the elderly loved ones in your life when you pursue financial planning and advice through an organisation dedicated to cases just like yours. Contact SACFA at your earliest available opportunity and speak with one of the professionals on our team about how we can clarify these issues for you and your family.
