Legislative change in aged care requires advisers to have access to the right tools

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Legislation is subject to constant change and new opportunities arise as a result. Even changes that are not directly related to aged care could create new strategy options for aged care. “Many clients moving into residential care may decide to sell their homes. The 1 July change to superannuation contribution rules provide an opportunity for […]

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Funding an Aged Care Refundable Accommodation Deposit (RAD) with a reverse mortgage

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A Refundable Accommodation Deposit (RAD) payable on entry in aged care is often a large amount of money to find in a hurry and many people think selling the family home is the only option open to them. Selling off the much-loved home can be a distressing outcome for most people. However, in many cases […]

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Need for aged care & disability advice solutions has never been greater – demand set to increase

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4.2 million Australians are disabled and of these, 1.4 million are severely disabled and all require guidance to navigate often overwhelming and confusing scenarios and solutions. They are often housed in Aged & Residential Care facilities, and knowledge about creating optimal solutions for them is a vital part of the model. This situation is about to […]

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Home could play bigger role in funding in-home care: Homesafe

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The ability for retirees to fund quality in-home care could be improved if more retirees could access their home equity debt-free, according to leading equity release provider Homesafe Wealth Release. In-home care could play a major role in reducing pressure on the aged care system, which is showing signs of strain: A recent PwC study, […]

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Survey reveals how aged care will be become an increasingly important topic of conversation

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Aged care will shift the landscape for financial planning and will become an increasingly important topic of conversation for advice professionals and consumers as revealed by an industry survey conducted jointly by Aged Care Steps and Swiss Re. Assyat David, Director at Aged Care Steps said “The survey results have wide reaching implications affecting consumers, […]

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Aged care – what you should know

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More people are living longer than ever before – and by 2060, a quarter of all Australians will be aged over 65. Our Aged Care system needs to keep changing to accommodate the growing demands of an ageing population. There have been more changes to the system recently, and this article outlines some of the […]

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An EPOA should always be considered in the wider context of an estate plan

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An Enduring Power of Attorney (EPOA) is a document where a principal (a person or company) appoints an individual or individuals (called the attorney) to act for the principal in relation to financial affairs, property matters and, in some States, lifestyle matters such as medical treatment or where the principal lives and how they should […]

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Rethinking the adequacy of retirement planning

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When taking into account the costs of aged care, the current retirement planning approach taken by many advisers may fall short of predicting the real retirement income needs and leave clients with significant shortfalls. Financial planners need to adapt their approach to retirement planning to ensure their service meets the real needs of their clients. […]

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A Super chance to talk aged care

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Over the coming months financial advisers will meet with most of their clients to explain the changes to superannuation that take effect from 1 July 2017, to discuss the impact on each client individually and determine actions they need to take. We strongly recommend that advisers use this opportunity to broaden the conversation to include […]

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Seniors need to carefully consider their options under the new Assets Test

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Seniors should consider their situation carefully if they find their Age Pension has been adversely impacted by the new Age Pension Assets Test that comes into effect on January 1, 2017 said Peter Szabo, Managing Director of Homesafe Solutions. Commenting further, Peter Szabo said, “It’s been estimated that over 300,000 Age Pensioners will have entitlements […]

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