AGED CARE FINANCIAL ADVICE MELBOURNE
Set the main goals first
Getting family together to set common goals is the first step to making the right plan for your elderly parents’ care.
• Deciding on aged care or home care
• Choosing the right facility
• Selling or retaining the family home
• What to do with other financial assets
Explore all possible scenarios
There are various options available to fund aged care. Each scenario will affect the age pension, daily care costs and the family’s estate value. We offer a financial comparison detailing how each scenario with differ so you can make the right decision.
Things to consider with each scenario available to you:
• Renting or selling the family home
• Borrowing against the family home
• Selling down shares and other financial assets
• How Centrelink benefits will be affected
• How upfront and daily care costs will be paid
After analysing each scenario, you will be able to ascertain which of the following options are best:
• Paying the Refundable Accommodation Deposit (RAD)
• Paying the Daily Accommodation Payment (DAP)
OR
• A combination of both
HERE ARE THE THINGS WE CAN HELP YOU WITH
Keep or sell the home?
You may not need to sell the family home. This is an important decision, with large financial implications. Many factors need to be carefully considered.
Complete Centerlink forms
We can complete the Centrelink assessment, check the results and even become nominee, so you don’t have to spend hours on hold.
Decrease Aged Care fees
We have strategies to reduce aged care fees. This is important so as to be able to pay the bills and protect the estate.
Maximise the Age Pension
Aged care is expensive. It is vital to obtain as much government support as possible, so as to reduce the chances of funds running out.
Avoid an expensive mistake
Aged care financing is a complicated area, a small mistake can cost thousands per year.
Forecast Cashflow
Cashflow is important to ensure that the aged care home direct debits will be paid. The enduring Powers of Attorney will be asked to guarantee ongoing payments.
Advice on existing investments
Are there investments purchased months ago or decades ago? Only an experienced advisor will understand these investments and how Centrelink will assess them.
How to pay the fees
How are you going to pay the aged care fees? You need the correct strategy.
Guide you on your responsibilities as a Power of Attorney
Being an enduring Power of Attorney is a legal responsibility. You need to protect yourself from making an error as even small mistakes can have serious consequences.
CLIENT TESTIMONIALS
Adam Cursio has gone over and beyond in helping us wherever he can with insurance, finance and general business related matters. Thanks for the help over the years Adam.
Adam Cursio has always been there for help in business related matters especially in insurance and finance. We have always been able to count on him and his family business who put a lot of passion into their work. Very trustworthy family and happy to recommend Cursio Group to anyone looking for advice.
Adam helped me to negotiate a great deal on my motor policy and we look forward to building our relationship with the team at Cursio Group in the near future.
When my home and business property in Mickleham were caught in a bushfire and the insurance company threatened not to pay my claim in full, Tony Cursio and his team stepped up to the plate in a big way to make sure my claim was paid. I would strongly recommend Cursio Group.
Cursio Group have helped us to pass as much risk on to insurers as possible. This has allowed us to focus on what we do best, knowing that we are covered and looked after by an experienced team of brokers. Thanks guys!