Encourage loved ones to have open and honest conversations about their future needs with this article on preparing for aged care. Learn the importance of planning ahead and how it can alleviate stress in the future.

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Recently retired couple, David and Erica, were fit and active, and planning a sea-change when David suffered a stroke, leaving him unable to walk or speak.

David had been a strong, strapping man, who now needed around-the-clock care. His doctor recommended either an aged care facility or a home-carer that provided appropriate services.

Over the course of their 25 year marriage, the couple had discussed many things, but not this.

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This article explains the potential impact of the value and use of the family home on aged care fees. It provides a short case study and recommends professional advice.

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Residential aged care is playing an increasing role in helping many older Australians enjoy comfortable and carefree lives. However, one of the tasks for anyone assisting an elderly relative with the move into aged care is to investigate the various fees and charges, some of which are subject to both assets and income means tests. As the family home is often the largest asset and can be a source of income if rented out, it’s particularly important to understand how it is treated in relation to these tests.

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This article is a summary of the types of costs associated with aged care, highlighting the need to be aware of the little incidentals charged as extras that can have an impact. It also discusses the point that, in our aging population, those seeking aged care for older loved ones, may soon be in the same boat and how a financial adviser can help.{tab Introduction}

We’re an ageing population; the media keeps reminding us, as does the government, but are we prepared for what this means? As a society? As individuals? One thing’s for sure – it’s something we cannot ignore.

The focus on self-funded retirement, doesn’t always consider increasing life-expectancy and what happens beyond pension-funding projections.

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