Stockbroking | Wealth Management | Corporate Advice

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Aged Care Advice

Morgans provides an Aged Care Advisory Service which sets out to assist busy families and aged parents who are in need of entering some form of aged care facility.

This is often a period of significant stress for families as critical decisions need to be made in relation to the type of care a parent or parents need, the location and proximity to family of such a facility and most importantly how to fund entry to the facility.

Our service is designed to simplify the decision making process for families and to provide peace of mind for the whole family where parents are about to, or are considering, the move into an Aged Care facility.

Your adviser can assist you with:

Planning and setting goals

  • Explain the workings of the aged care system and the options available to you and your family.
  • Outline the steps ahead to give you a direct path towards finding appropriate care.
  • Act as a central reference point for clear and relevant information on aged care.
  • Help you to identify what's important and establish your aged care goals and objectives.

Financial Review

  • Review your financial situation to gain a complete understanding of your assets and income and whether the family home can be used to help fund your aged care.
  • Establish in broad terms what you can afford to pay to enable you to search for a suitable aged care facility.

Estimate Fees and Options

  • Explain how entry fees and daily care fees are calculated and estimate what you may need to pay for aged care.
  • Determine the financial advantages of keeping or selling the home (if it is available to fund your aged care).
  • How to best fund the upfront Accommodation Payment - as a lump sum Refundable Accommodation Deposit, an ongoing Daily Accommodation Payment, or a combination of the two.
  • Evaluate the impact of various strategies on your age pension entitlements and daily care fees.

Optimise Cashflow

  • Develop strategies to optimise your financial position including minimising fees and maximising entitlements.
  • Seek strategies designed to not only cover aged care costs but achieve an optimum financial outcome for you.

Estate Planning

  • Maximise estate assets for beneficiaries and ensure that the estate plan continues to reflect your wishes.

Contact us

If you would like to know more about our service contact us to find out more.