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Will mum and/or dad be a supported or non-supported resident?
Aged Care Financial Advice
Our Services
Aged Care Financial Advice
Helping a loved one move into an Aged Care facility can be an emotionally challenging time for everyone involved. Seeking financial advice from an Aged Care Specialist Financial Advisor can ease the added financial stress when placing a loved one into a care facility.
At Progressive Financial Solutions, our Aged Care services goal is to remove the added financial challenges you will face when you transition a loved one into an Aged Care home, allowing you to focus on the care of your loved ones.
We meet with you and discuss your loved one’s personal and financial position. We provide you with multiple possible strategies to consider for your loved one and use our expertise to put a plan in place to maximise your loved ones cashflow and preserve their assets throughout their lifetime. We provide premium ongoing financial and Centrelink support while your loved one is in care.
Joe Formica, CFP, is an Aged Care Specialist Financial Advisor, and is recognised through Aged Care Gurus.
Thinking About Aged Care?
When you think about Aged Care for a loved one, you will begin to think about the endless financial possibilities.
At Progressive Financial Solutions, our Aged Care specialist financial advisor will help you understand the components of Aged Care costs. We also consider your loved one’s preferences regarding finances when setting up a financial plan for their aged care needs.
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What is the room price for the Aged Care accommodation? What is the best way to fund this?
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What are the ongoing Aged Care fees? Are there costs that we can minimise? What about mum and/or dad's personal expense needs?
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How can we maximise mum and/or dad's Centrelink benefits?
Aged Care Financial Advice Considerations
At Progressive Financial Solutions, successful Aged Care financial planning includes considering how to manage your loved ones cash flow while preserving their assets throughout their Aged Care residency. We consider the following when it comes to appropriate Aged Care advice:
- Room Cost : How to best fund the cost of the accommodation
- Property Considerations : Do we need to sell the properties, or can we rent out the home/investment properties? If required, when is the best time to sell the properties?
- Maximising Ongoing Cashflow : Through maximising Centrelink entitlements and minimising the Means Tested Care Fees
- Asset Preservation : Which strategy will provide your loved ones with the best asset position over time?
- Estate Planning : Giving regard to your loved one’s estate planning wishes when giving advice.
Start Planning for Aged Care
Our initial consultations are complimentary, and in the first meeting with us, we gain an understanding of your loved one and their personal and financial situation. We will provide you with an education of the financial side of the Aged Care sector. We also encourage you to ask us questions about our company and culture to ensure we are the right financial partner for you.