Early planning is definitely the key when considering aged care at home or a residential aged care facility. 

These days there are Home Care Packages available that provide access to services that can help you to stay at your own home for as long as you can.  Support services include cleaning, meal preparation and transport for shopping and appointments.

However, depending on your dependency for assistance you may need to consider an Aged Care Facility. Aged care facilities provide accommodation and care depending on your personal needs.  Care can range from personal care, such as help with showering and occasional nursing care to continuous nursing care for those who are unable to look after themselves.

Many residential care facilities have significant waitlists and this is one reason it is vital to plan early. 

You should visit a few that appeal to you, along with family members.  Becoming familiar with your options can enable you to have meaningful conversations regarding your options and make more informed lifestyle and financial decisions. 

When you move into an Aged Care Facility an accommodation payment will be payable.  This can be paid as a lump sum, in regular instalments, or a combination of a lump sum and regular instalments. 

This amount will vary between facilities and as a general rule will be higher for newer places.  There will also be ongoing aged care fees and your living expenses.

A financial planner can help you minimise the fees you may have to pay and/or maximise governments benefits you may receive.  They can also determine whether care in your preferred facility is affordable, and potentially start restructuring your assets to improve your financial position.   A financial planner can also help address your estate planning needs.

For more information please contact me via this page to arrange a FREE 30 minute consultation.  https://amandamccall.com.au/contact-financial-services-brisbane