The decision to move into aged care can be complex, stressful and sometimes urgent. Whether someone is considering options for themselves or deciding how best to help a loved one, aged care requires thoughtful planning and understanding.

Since options and costs vary from person to person, it's beneficial to start planning for aged care as early as possible. The earlier the start, the more time there is to carefully consider the big decisions and explore a wider range of options. Early planning can also help avoid potential tax pitfalls and other complications that may arise from making rushed decisions.

There are many financial and emotional questions to consider when planning for aged care: What should we do with the family home? Will this affect Dad’s pension? How can we afford this? Are we saving enough in our super now to fund aged care later in life? How will our decisions impact our children?

Additionally, much of the challenge lies in understanding the terminology used in aged care. Terms like refundable accommodation deposits, daily accommodation payments, income-tested fees and ACAT assessments can be unfamiliar to those navigating the aged care system for the first time.

Senior Australians deserve the best care for their well-being and fulfilment. This can be achieved through the availability and delivery of safe, respectful and high-quality services. A financial planning specialist in aged care can help develop tailored strategies that benefit a family’s unique circumstances.

How we help clients

HLB Mann Judd’s accredited aged care financial planners provide expert advice from the initial planning stages through to ongoing financial management after transitioning into an aged care facility. We aim to empower you to plan for your future, easing any pressure or feeling overwhelmed. We also take a holistic approach to ensure your plan considers taxation, superannuation and other aspects of wealth management.

Our aged care planning services include:

  • Guiding you through the entire process, from the initial ACAT assessment to moving in and receiving ongoing support
  • Assisting in evaluating various financial options and understanding how they will affect fees and age pensions
  • Managing and assessing cash flow to cover ongoing aged care fees and personal expenses
  • Providing advice on the financial implications of selling or keeping the family home
  • Completing all necessary paperwork for Centrelink/DVA, including Age Pension applications and assets and income testing
  • Acting as a liaison with providers, facilities and Centrelink on your behalf
  • Reviewing the financial situation for clients already in care, including aged care fees and pension entitlements
  • Offering tax planning services related to investments, superannuation, income streams from other assets, the rental or sale of a family home, or reverse mortgage options
  • Developing financial plans and wealth structures in preparation for retirement.

Additionally, we will collaborate proactively with your other professional advisers, such as your accountant and solicitor, to ensure a seamless and integrated outcome. Our approach also includes conducting ongoing reviews to ensure our services remain aligned with your evolving needs, changing legislation and other circumstances.

We understand that some clients may have mobility issues, and we offer home visits if needed. For those who prefer not to meet in person, we can arrange video conferencing.

If this area is of interest to you or your family, please contact one of our specialist and accredited aged care financial advisers.

Related services

Estate Planning & Administration
Superannuation & SMSFs
Wealth Management