Accommodation Bonds for Aged Care

A CASE STUDY: Negotiating Accommodation Bonds Aged Care Australia A widow with health issues and early dementia has a fall and needs to be moved to a care facility. The family find her a place nearby her home but are unsure of whether to sell the home or rent the home. They are unfamiliar with all the charges and come to us for advice on the Accommodation Bond and whether to pay it upfront or in instalments. Their Mother has some funds in a Term Deposit that will increase the Income Tested Fee that she may be charged on top of the accommodation daily charge of $45.63 a day. We are able to implement some strategies that reduce their mother’s Income tested Fee by $7 a day and increase her entitlements to an Age Pension by $210 a fortnight as well as negotiate part payment of the Accommodation Bond that enhances their Mother’s long term financial situation ensuring that her care is funded for her life time. Do you have a similar dilemma? Give us a quick call at Blenkhorn Financial Planning & we can advise what is the best way to structure the payments due and ease your concerns about your loved one’s financial security. Share...
Alzheimer’s & High Care

Alzheimer’s & High Care

A Case Study: Aged Care – Managing Your Assets With Advanced Alzheimer’s Disease. Get the right Retirement Planning Services for you. Robin came to see us as her husband Dan’s health was deteriorating rapidly and she needed to get him into a care facility. He also had advanced Alzheimer’s disease. We assist Robin in finding a place that was suitable for them both to be together as a couple. Robin planned to sell the family home to fund the move into a special Alzheimer’s care facility. Robin is of sound mind and was to be sharing a room with her husband in an Alzheimer’s unit. We asked Robin if we can talk with her husband’s Doctor and found that he was of the opinion that Dan did not have much time left. We ask Robin to wait a month before committing to the sale of her house to give her some time to consider her options. Sadly Dan passed on within 2 weeks of this assessment by his Doctor. Although Robin is very sad at the passing of her husband she is also very relieved that she is not living in an Alzheimer’s unit and that in those very stressful last days she had professional advice and support whilst making such major life decisions. Considering Aged Care for any reason can be a very difficult time balancing emotional & health needs of those going into care and other family members. When you combine these things with the major financial decisions which must be made it is reassuring to have a professional Financial Planner to help navigate the path and...

A 4 Step Easy Plan for Transitioning to Aged Care in Australia

Are your Parents over 65? If you have family who are between 65 – 85 years you know the hard decisions are fast approaching: If there is no way that you can care for your aging mother, father or grandparent at home, how do you find the best residential or nursing care solution? Will you be able to afford a place that is safe, comfortable and enjoyable? When is the right time to ask for our assistance? Moving a relative into Aged Care is not something you can decide on the spur of the moment or when your loved one’s health takes a sudden turn for the worse. The process takes time, so the word to the wise is: Start planning early. It used to be that the average age of family members transitioning their loved one to a care facility was 52. Today, the average age is only 43. This means that while you are busy raising your own family, this critical responsibility has been added to your “To Do” List. The 4 Step Aged Care Plan: Transitioning Ageing Family Into Care Don’t feel overwhelmed. Following these four steps, you will be able to accomplish this the right way. Step 1: Schedule a health care assessment for your loved one to determine what level of care is needed. This is also called an ACAT or Aged Care Assessment Team assessment. You can find out how to do this here. Step 2: Call us now for independent professional advice so that you are prepared with all the information you will need that is specific to your own situation and...