Understanding the refund rules for RADs may remove some of the stress and worry with a move into residential care. Room prices in aged care are usually quoted as a lump sum. Often this is a big number, which can cause a lot of worry. But this is also one of the most misunderstood areas…
Many retirees may want to help younger family members by gifting part of their savings. But if things go wrong in the future, the joy may turn to grief. Gifting may help the children and grandchildren, but it may have significant impacts for an older person’s own future – especially if an aged care need…
The concept of retirement is changing, with fewer people working towards a final retirement date and then clocking off for good. Instead, those who have the flexibility to choose are often transitioning out of the workforce over several years, or even returning after a break. Whether you simply want to wind back your working hours…
The daily fees you will be asked to pay for residential aged care are based on your financial situation. But more and more providers are charging a fee for additional services, with the ability to set their own fees – so check what you are paying for. When living in residential aged care you will…
Moving into aged care can be a challenging time, both for those making the move and families supporting their loved ones. It’s understandable that everyone wants to find the most suitable accommodation and the appropriate standard of care, however, it can be confusing to make that choice. A new star rating system for aged care is giving…
Lots of rules and lots of jargon make understanding aged care even more complicated. This article demystifies one of the more common strategies of DAP from RAD. Understanding aged care can be complicated enough, without needing to decipher all the jargon and acronyms. An example is the “DAP from RAD” strategy, which can be confusing…
When your family gathers over the festive season, it might present an opportunity to start planning for future care needs. Christmas is a time for families and the New Year is for resolutions. This year, combine the two by making a resolution to pay more attention to how your older parents are coping and start…
Think you can’t afford aged care? Advice on your options can help to understand what is affordable and how to best structure your finances. When you move into residential aged care, the room price might be quoted as a lump sum, but you will have the choice to pay for your room as a lump…
Remove the stress of funding aged care needs with advice on your options – nothing stays the same, and some fees just got higher. Two things happened on 1 October that have seen aged care costs increase for some people in residential care – the interest rate increased and so did the maximum daily means-tested…
Understanding how aged care accommodation payments work and getting advice on your options can help to avoid the panic of trying to find a large lump sum. If the prices for a room in residential care, have caused you alarm and led to concerns about how to find such large lump sums, you are not…