The costs associated with residential aged care can be complex and difficult to understand.
Having the right financial advice can make a big difference to what you will pay for aged care, as well as the continuing financial health of your family. We offer a range of services, ranging from a standard cost assessment to a detailed financial plan.
All Senexus clients receive a general cost assessment as part of the standard placement service. The aged care costs assessment includes:
- An estimate of the fees and other costs of residential aged care for your loved one.
- Assessment of whether a RAD (refundable accommodation deposit) will need to be paid. While premium rooms generally attract a high RAD, many clients are surprised to discover that premium residential care is within their budget.
- Table showing the fees that will apply to rooms priced at different RADs.
- Analysis of how much RAD to pay as a lump-sum.
- Assessment of whether entering aged care will effect your loved one’s aged pension.
- Comparison of the decision to sell, or rent, the family home.
- General information on the options for meeting your loved one’s care and living expenses.
- Timely completion and submission of the Centrelink or DVA Request for Asset and Income Assessment form.
Armed with this important information, many clients find that they are able to make a fully informed decision.
Financial strategy paper
A detailed strategy paper from an aged care financial adviser can make a big difference to aged care costs and fees. With a financial strategy paper you will receive specific advice outlining actions to:
- Minimise entry fees and ongoing fees.
- Maximise Centrelink or DVA entitlements.
- Afford your preferred aged care option within a specific budget.
- Invest surplus funds without impacting Centrelink benefits.
Senexus provides a full range of financial services designed for the whole family. A Senexus financial adviser can provide advice on matters of estate planning, inheritance, maximising tax-effectiveness, and retirement planning.
Understand the costs of aged care and maximise the financial health of your family.
I love my dad but felt like I was ready to scream. He has terrible eyesight and difficulty moving unaided, so I was going to his house every night after work to look after him. I felt disloyal even admitting that I needed a break. Senexus were great – supportive and knowledgeable, David arranged for my dad to have a week in respite care. It was the break that both of us needed.