Aged care financial advice

Knowing what to do and what your options are when you or your loved ones can no longer live independently can be confusing. Getting the right information and advice now will help you make the best choices for your future care, security and happiness. Plan ahead to give yourself and your family time to make the best decision.

As a starting point, we offer an obligation-free 30-minute phone appointment, where we can answer all of your questions and provide general aged care financial advice. You can book your free 30 minute phone appointment online – just complete our short registration form and a member of our Aged Care Advice team will be in touch.

Aged care financial advice is specific, complex and the following issues require consideration:

Home care

  • Outline of Home Care Package subsidies provided by the Federal Government
  • Explanation on how the basic daily fee and income-tested fees are calculated – can impact hours of care received and cashflow
  • Options to assist in payment of fees and managing cashflow
  • How to get an ACAT assessment

Residential care

  • Options to pay the accommodation payment (room cost) – Refundable Accommodation Deposits (RAD), Daily Accommodation Payments (DAP), RAD + DAP, DAP from RAD
  • How to qualify as a low-means resident and not pay an accommodation payment but instead an accommodation contribution, subsidised by the Federal Government
  • Explanation on how the basic daily fee and means-tested fees are calculated and impact on Age Pension benefits and cashflow
  • Options to pay for initial costs and ongoing fees
  • Options for the family home

Morgans Aged Care Advice

Our specialist Aged Care Advice team can assist you in making sense of the aged care system and base their decisions on sound financial advice.

We offer you detailed advice considering your personal circumstances by:

  • Illustrating how the Government may subsidise your aged care costs
  • Analysing a range of payment options for your care at home or in residential care
  • Providing detailed cash flows over five years, taking into account available tax offsets and Centrelink exemptions
  • Projecting future asset values for beneficiaries
  • Modelling the impact of concessions for your home

How does it work?

Contact your Morgans adviser to arrange an aged care advice appointment, which includes:

  • An initial free discussion (30 minutes)
  • Completion of an aged care questionnaire
  • Review of the returned questionnaire and follow up discussion if required
  • Preparation of a comprehensive aged care strategy paper specific to your circumstances, comparing up to five accommodation funding options
  • Presentation of the strategy paper, answer questions and discuss any associated issues


There is no charge for your initial obligation free, general advice 30 minute discussion

Then our advice is fee-for-service, based on the time taken to provide the advice you require.

As a guide, if the returned questionnaire is complete, the initial/presentation meetings and preparation of the strategy paper will take approximately 2.5-5 hours.

Aged care Q&A 

Aged Care Advice Specialist David Codey speaks with Terri Bradford, National Manager Wealth Management, about the fees involved with aged care, strategies to cover the costs when moving to a nursing home and his key piece of advice when entering this complex area.

Find out more

Contact the Morgans Aged Care Advice Team at [email protected]. Alternatively contact your Morgans adviser or your nearest office to find out more.


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