Aged Care

Objective:

  • Calculate the impact of moving to an Aged care facility.

Suitable for:

  • Post retirees looking to move to an Aged care facility.

Key features:

  • A range of strategies can be considered to maximise retention of wealth when moving to Aged Care;

  • The optimisation takes into account the full impact each potential strategy has on Centrelink entitlements, net income and overall wealth. 

  • Strategies optimised include:

    • Retaining principal residence;

    • Selling principal residence;

    • Renting principal residence out (2-year strategy);

    • Purchase annuity;

    • Purchase investment bond within trust (maximise age pension strategy);

    • The amount of Refundable Approved Deposit that should be paid upfront.

Results:

  • The optimal level of Refundable Approved Deposit paid as a lump sum is provided;

  • Summary of other recommended strategies that maximise retention of net equity.  

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