Article posted:Mar 24, 2013
Category: Aged care financial planning
Do I Need an Aged Care Financial Advisor?
Working with a financial planner who specialises in aged care can be beneficial if you are finding the financial side of residential aged care confusing or overwhelming. An aged care financial planner may be particularly useful for things such as:
Understanding All the Costs Involved in Residential Aged Care
Aged Care costs money, and how much money you will pay will depend on a variety of factors. In aged care, you many need to pay a variety of different fees depending on the sort of aged care services you are looking for.
Possible fees include:
- Daily Care Fees
- Refundable Accommodation Deposit (RAD) or Daily Accommodation Payment (DAP)
- Extra Service Fees
- Residential Cash Flow needed per annum
- Accommodation Fee
- Income Tested Fee
- Retention Amount
An aged care financial advisor will help you understand these fees and how much they will cost.
How to Fund the Costs
An aged care financial planner can also help you figure out how to fund the necessary costs of aged care.
If you are struggling over whether you should sell the family home or not, whether your loved one will have enough cash flow for day to day expenses, or help organising an estate than a financial planner may be useful.
Search for residential aged care in:
- Residential aged care in Melbourne
- Residential aged care in Sydney
- Residential aged care in Canberra
- Residential aged care in Brisbane
- Residential aged care in Adelaide
- Residential aged care in Perth
- Residential aged care in Hobart
Search for home care services in:
- Home care in Melbourne
- Home care in Sydney
- Home care in Canberra
- Home care in Brisbane
- Home care in Adelaide
- Home care in Perth
- Home care in Hobart
Do you need help finding aged care?
My CarePath can provide you with a complete end to end consultancy service to assist you in navigating the complexities of residential aged care & home care packages. Our consultants are ready to help - call or email today for a friendly, no-obligation chat!