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.
We live in Brisbane and had been paying for my mum to have some help around the home (in Adelaide), but our budget just couldn’t stretch to cover everything. We didn’t even realise that there were government funded home care packages available – thank you Senexus!