It would be no surprise to most people that aged care planning can be quite complex. Making the wrong decision could have significant unintended results.  Below we have outlined some critical items that should be considered carefully.

1)  Selling the family home without considering the impact on Age Pension entitlements. While you may use the sale proceeds to fund an accommodation bond it could result in future pension payments being reduced.
2)  Negotiate the accommodation bond.  It is often possible to reduce or improve the terms of a bond by engaging a specialist in the aged care field.
3)  Have a power of attorney in place to allow for financial decisions to be made if a loved one loses mental capacity.
4)  Make sure your love ones have a valid, up to date will.

If you would like to discuss any of these points or would like more information on aged care planning please contact our office.