Wealth Advisory

Aged Care Planning

When a family member is unable to remain in their own home, assisting them to move into an aged care facility can be daunting and stressful time for the family.

How does it work and how much does it cost?

The Australian Government funds many different types of organisations so they can provide subsidised aged care. No matter which organisation you choose, you will probably need some type of assessment to begin the process of receiving help at home or moving into an aged care facility.

There are two types of assessment:

  • those conducted by the organisation that can provide you with aged care services
  • those conducted by a member of the Aged Care Assessment Team (ACAT). These are called ‘ACAT Assessments’

The costs associated with aged care facilities will be dependent on your current situation, including your assets and income. They are assessed on an individual basis, so you will only be expected to pay what is determined to be affordable for your circumstances.

Remember, your wishes are always heard and considered, and you will never be forced to make any decisions about your future during your assessment. The assessment is an opportunity to identify options and you can make a decision once you have received the outcome of your assessment.

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John Archibald, Lucy Hateley & Red Lion Wealth Advisory are authorised representatives of Lonsdale Financial Group Ltd
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