Aged Care

With the recent announcement on 9 October of The Royal Commission into Aged Care Quality and Safety, the possibility of entering aged care has unsettled some Australians.

Whether it be you, a parent or loved one entering aged care it can be a daunting and nerve-racking process. Ensuring you receive the correct advice and information is vital in safeguarding your future care, security and happiness. Planning ahead is always recommended however it is never too late to start. Today is better than ever to begin preparing your finances for the future and Networth Accounting can help make this an uncomplicated process for you.

Networth Accounting can offer detailed advice tailored to you and your circumstances by:

• Assessing your financial position;

• Providing an understanding of the options available to fund the daily care fees, any means tested fees and how different funding scenarios will affect cash flow;

• Structuring the costs so the aged care is affordable in the short and long term;

• Minimising any future aged care means tested fees;

• Analysing the cost vs. benefit of selling your residential home;

• Understanding the impact on your age pension and Centrelink/DVA benefits;

• Integrating aged care into you estate planning.