Aged care can be a sensitive subject to discuss, and it does involve complex concerns such as sorting out your estate or dealing with aged care providers.
Providing aged care advice requires specialist knowledge, your adviser must have a full understanding of the sensitive issues involved as well as regulatory considerations in the aged care sector.
Choosing the right Aged care option can be stressful and emotional. FM Financial have skilled advisers that can help you make the right financial decisions for the aged care journey. So you know you are making the best choice.
In a free consultation meeting we can take you through the process we work through with our clients, and the information needed to discuss planning a transition to aged care.
FM Financial knows Aged Care, can act on your behalf & take away the worry
What do I need to know?
We help you work through the questions that you and your loved ones are concerned about. Whether it is for yourself or a parent or family member, we can work with you to decide the best options available.
We can help you with areas including:
How will an age pension and other Centrelink benefits be affected?
Will I have to sell the home?
How do I pay fees?
Will money run out in the years to come?
Am I able to change nursing homes?
Will I have to pay tax?
Who will understand what I want?
How do I know I am not paying too much to the nursing home?
Can any costs be negotiated?
The Aged Care process may seem confusing at first but we have created a 5 step process to lead you through the Aged Care system, your FM Adviser can explain the information required at each step.
The first step is to go through the process. Aged Care Assessment Teams (ACAT) assesses and determines the right care based on the needs required.
The ACAT process will have determined the right level of care. Now is the time to begin visiting facilities and understanding the benefits of different locations. Look to create a shortlist of 3-5 facilities.
3. Financial Analysis
Understanding and analysing the financial needs of Aged Care is key to ensuring the best financial plan is put in place. Meeting with your FM Adviser to discuss the Aged Care specific requirements such as care fees, accommodation bonds and medication, as well as the financial management of cash flow and assets is key to ensuring you maximise all available entitlements and minimise fees.
Lodging applications to a number of your preferred facilities will maximise the chances of receiving a place. Your FM Financial Adviser can help you work through the finalisation of the costs and financial management to ensure a smooth transition emotionally and financially.
5. Ongoing Financial Management
There will be continuous management required of the ongoing costs, fees, financial issues, Government and Centrelink changes as well as cash flow. Your FM Adviser can help you manage these issues on a regular basis with their in depth knowledge of the process and regulations.