Most people want to stay living in their own home for as long as possible. However, as you get older your care needs are likely to increase. The best way to ensure that you receive the care you want and need is to start planning early.
There are a number of care options available, ranging from home care services to residential aged care facilities such as aged care homes (nursing homes).
Care options can differ widely, so getting the right advice is very important as there are a number of decisions that need to be made – for example, whether to keep or sell the family home and how to structure your funds to ensure you have a regular cash flow to meet expenses.
As your financial adviser, I can assist by explaining the various aged care options and provide advice on a range of areas including:
accommodation payments and ongoing fees
minimising fees and charges
maintaining the Age Pension and other social security entitlements
implications of keeping or selling the family home
structuring income and assets to meet the ongoing costs of aged care
the potential taxation implications of different aged care options and decisions
estate planning needs such as Wills and Powers of Attorney.
It’s important to consider your options and commence the planning process early so that decisions do not need to be made under stressful conditions.
Call one of our Toowoomba financial planners today to organise a free 45 minute meeting to discuss.
Please note that any taxation and accounting services are not endorsed nor the responsibility of Count Financial Limited