Business Excellence: Don’t lose sleep and money over aged care – Muirfield Financial Services

Taking the step to move a loved one to aged care can be a draining one, emotionally, physically and financially.

To make the transition as stress-free as possible, it is important to understand your needs and options fully before making any decisions.

Muirfield Financial Services’ Accredited Aged Care Professionals can ease your experience and provide peace of mind. Here they simplify some of the most commonly asked questions:

What is the cost of aged care?
The cost of aged care differs between each facility and the resident’s levels of income and assets. It is important you understand what the relevant fees and costs will be for each individual’s circumstances. Muirfield Financial Services can help relieve some of that stress thanks to their online calculator, which can explain what fees you will be expected to pay.

Do I need to sell the family home?
There is a common misconception that the home of the person entering care must be sold to pay for aged care fees. Sometimes, selling the home is a reasonable option as it provides the ability to pay lump sum care fees, but often and depending on your situation it is not necessary to sell.

Muirfield’s Accredited Aged Care Professionals can assist you with structuring your finances in the best way to get the most of your hardearned assets.

What is the impact on Centrelink and cash flow?
Sometimes, but not always, moving to care can have an impact on Centrelink entitlements and cash flow. In some cases, Centrelink payments can increase or even provide the opportunity to qualify for a pension entitlement. The team at Muirfield can help you assess the impact on your Centrelink entitlements.

How do I manage the paperwork?
Muirfield advisers can simplify it all for you by managing the process. The team can help you complete forms, submit documents and supporting evidence and go the extra mile to ensure everything is applied correctly.

To learn more or book an appointment, head to muirfieldfs.com.au/aged-care-strategy or phone the team at 5224 2700.