KEY THINGS WHEN PLAN­NING FOR AGED CARE

Money Magazine Australia - - MY MONEY | AGED CARE -

1 It’s best not to be rushed when con­sid­er­ing aged care. Start pre­par­ing well in ad­vance. 2 The lo­ca­tion of an aged-care fa­cil­ity is im­por­tant. The closer it is to fam­ily mem­bers the bet­ter. 3

Don’t sign any­thing you don’t un­der­stand. 4 If you have two par­ents alive, they are likely to age at dif­fer­ent speeds. This will add to the com­plex­ity when they en­ter aged care. 5 You don’t need to tell an aged-care fa­cil­ity about your fi­nan­cial sit­u­a­tion. 6

Of­ten it is not nec­es­sary to com­plete or sub­mit the Cen­tre­link form. 7 If you can, try be­fore you buy. Many aged-care fa­cil­i­ties of­fer respite op­tions. 8

Don’t be afraid to ne­go­ti­ate on the RAD. 9 Con­sider dif­fer­ent strate­gies for han­dling monthly cash flow. 10

Aged care is com­plex and no one can know it all – get ad­vice.

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