What is a supported resident?

  One of the subjects creating the most confusion for new residents to aged care is the concept of being a supported resident. It is an important concept because assessment as a supported resident provides a series of benefits as … Continued

Age Pension Assets Test Changes

  One of the key messages from the 2016 Federal Budget was the need to re balance the assets test to help make access to government pensions fairer. To do this, the Government proposed to increase the assets test thresholds … Continued

Understand the costs of residential aged care

  There are three sets of fees payable: costs of accommodation, costs of care, and costs of extra services.   1.  Costs of Accommodation The accommodation payment will be quoted as a lump sum called a Refundable Accommodation Deposit (RAD). … Continued

Things your financial adviser can help you with

  Navigating the aged care terrain requires much more than information. Families on this journey need a listening ear, acknowledgement, and reassurance. They want to be treated as whole and competent human beings, who can make their own decisions. They … Continued

How is Mum’s age pension affected by her move to residential aged care?

  For most of our clients who are moving into residential aged care, retaining their Centrelink benefits and associated health cards is a high priority. In addition, often, a move into residential aged care is the catalyst for aged Australians … Continued

Do I need to provide guarantees for my parent entering residential aged care?

  A client of ours recently questioned us about the Residential Agreement and Accommodation Agreement they were asked to sign when admitting his mum to residential aged care. In particular he was concerned about a clause stating that a resident … Continued

Can I negotiate the RAD with the aged care facility?

    A client recently emailed us with a question about whether the Refundable Accommodation Payment (RAD) can be negotiated with the residential aged care facility. More specifically he was interested in finding out whether not-for-profit residential aged care facilities would … Continued

Do I need a retirement village or an aged care facility?

Many of our clients express some confusion between what is a retirement village and an aged care home. Whilst both are aimed at seniors there are important differences between them. Broadly speaking retirement villages are aimed at people in early … Continued

What are the costs of Residential Aged Care?

  The fees payable in residential aged care are regulated by government. The range of fees may include the following.   1. Accommodation payment You will be asked to pay an accommodation payment as either a lump sum (refundable accommodation … Continued

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