Aged Care TMFS icon

Understanding Aged Care

Leaving the family home and transferring into aged care is a major life change for individuals, partners and families

For many people this is a time of financial confusion, coming to terms with a number of new and uncertain demands and commitments. Given the number of potential options, it often requires a specialist with experience in this area who is used to taking all of the potential risk areas into account.

Common questions about Aged Care include:

  • How do I decide which care option to use?
  • Will I have enough money to pay aged care fees?
  • Will I lose the aged pension once I go into aged care?
  • What happens when I die?
  • What should I do with the family home?

Aged Care Advice – making things simple

Given the complexity of personal and family factors, it is important to sort out financial matters early, to make fully informed decisions. An experienced financial adviser is well placed to remove the burden of worry around the cost of aged care, assist with the movement of assets and planning for the future.

Where to start with Aged Care

The first step in aged care planning is to decide what kind of facility is right for the individual. An individual is first assessed by an Aged Care Assessment Team (ACAT) who will decide the level of care required. The options are normally:

  • Nursing homes
  • Hostels

Using a professional and qualified Aged Care financial adviser

Knowing the extent of the issues involved, what can be done and how much it is likely to cost can be a major step forward in reducing the stress of moving to aged care. This allows people to concentrate on the emotional issues involved, and relieves one area of major concern.

Tailor-Made Financial Services is an award-winning boutique financial advice business that can help you navigate the complex area of aged care.

We take the time to genuinely understand your needs and we deliver professional advice that ensures you maximise your Centrelink entitlements and minimise costs. To achieve an optimal outcome we can liaise with other professionals such as accountants and solicitors and help solve the all important question of what to do with the family home.

Our contemporary professional advice ensures that as you transition to aged care you make the right decisions at the right time.