Too many families powerless when elderly decline mentally

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Far too many retired Australians have not granted a financial Enduring Power of Attorney, which can lead to problems for their loved ones and unnecessary family conflict, said Anna Hacker, wills and estates accredited specialist at Equity Trustees Limited (EQT). “As Australians live longer, it becomes increasingly necessary to have measures in place in case […]

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Negotiating aged care accommodation bonds – December 2013 update

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This is an update of an article last updated in July, 2013. This update addresses recent changes in legislation. Too often articles and information published on aged care focus on how to reduce the accommodation bond. Many clients (and their families) will also express a reluctance to pay the high bonds required. The opportunity to […]

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Aged care awareness essential for advisers

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Financial advisers need to arm themselves with aged care strategies in the new year, as the holiday period is likely to prompt clients to question the care needs of their ageing relatives and the financial impacts of this care, says Aged Care Steps (ACS). “Christmas is a time when families catch up. Adult children may not have seen […]

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Aged care reforms require careful planning

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The Aged Care reforms due to come into effect on 1 July 2014 will require a new approach to aged care provider payments, and advisers can play a key role in ensuring their clients, and their clients’ parents, are structuring their financial affairs in the best way, says Anna Lawton, senior manager, aged care services […]

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Complex income & assets tests at risk of impeding care for aged parents

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Complex aged care rules putting financial strain on families: Centric Wealth Leading wealth management firm, Centric Wealth, today said that the current cost of aged care services, combined with complex carer and pension entitlements rules, means an increasing number of families are unable to pay for the care services their elderly relatives need. “Over the […]

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Complex income & assets tests at risk of impeding care for aged parents

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Leading wealth management firm, Centric Wealth, today said that the current cost of aged care services, combined with complex carer and pension entitlements rules, means an increasing number of families are unable to pay for the care services their elderly relatives need. “Over the past 100 years, life expectancy levels for 65 year old men […]

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Negotiating aged care accommodation bonds – July 2013 update

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This Article was updated on December 17, 2013 – To view the update click here. Too often articles and information published on aged care focus on how to reduce the accommodation bond. Many clients (and their families) will also express a reluctance to pay the high bonds required. The opportunity to initially agree on a low bond […]

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Aged care reforms – March 2013

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Almost a year after the Government announced its response to the Productivity Commission Report on aged care reform legislation has been introduced into Parliament to effect the proposals. Five Bills were introduced on 13 March which will impact residents who enter residential aged care from 1 July 2014. Residents in care before this date will […]

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Reforming aged care entry fees

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Clients moving into residential aged care may find entry fees more transparent and easier to negotiate from 1 July 2014. Following the Productivity Commission report on aged care, the government set up the Aged Care Financing Authority (ACFA) to provide advice on reforms and monitor pricing in the aged care industry. Recommendations for reforms to […]

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Aged care client conversation-another year older

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As we approach the end of another year, many people including your clients will be looking forward to the festive season and the chance to slow down and catch up with family, particularly elderly parents. Busy lives and distant homes can make it easy to feel out of touch. Sadly, at this time of year […]

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