Although it seems that there’s a lot to navigate when it comes to figuring out Aged Care, it’s easily broken down into three main areas.
- Strategy – this makes up about half of your solution
- Placement – around a quarter of your decision process
- Investment Solution – around another quarter, but isn’t needed by all
So, how do you know what parts you’ll need and what does each area include? Here’s our quick view guide to break it all down for you.
The Strategy space is the biggest as it involves dealing with:-
- The family home – what to do?
- The cost of care – what will the daily fees be?
- Social Security – do you qualify and how does it help? What strategies can improve your position?
- Cash flow – always important to ensure you can make ends meet!
- Estate Planning – how does everything get left?
- Tax – will it be an issue or not?
Placement is the next item of concern:
- At Home Care may be the first step
- Seeing a Placement Specialist and being assessed is vital
- Finding a suitable Residential Facility
Investment Solution may not be required by everyone but covers off options such as:
- Term Deposits
- Investment Bonds within family trusts
- Specific Care option annuities
So, even if you feel able to deal with a part of what’s needed, experts like those at Trusted Aged Care Services can help assist with part or all of what’s required for your personal solution.
Don’t hesitate to give us a call today if we can help you out with your Aged Care needs on 07 5593 0855.