Reasons to Hire Aged Care Financial Adviser in Sydney Here you will learn how expert aged care financial advice can bring the difference in making all the decisions correct and rewarding. It is very important to arrange an aged care facility in Sydney which requires a lot of emotional and financial navigation. While you and your family members can deal with the sentiments, an expert is definitely required to take care of the financial planning. Here we have mentioned some reasons to find out why you need a financial adviser to reach some decisions that are certainly not as straightforward as they appear.
To Understand Australiaâ€™s Welfare System For most of those acquiring the elderly age, and for their adult children as well, the terrain of aged care and welfare system is unexplored and daunting at times. Costs and rules are being revised on frequent basis and it is important to know them, assess them and act accordingly. A financial adviser would be a knowledgeable expert, familiar with every minor detail that would avoid encountering bad choices and missing good opportunities. Deciding the Affordable Facility Depending on your assets and needs, you must make choice among low-care, high-care and extra services facility. Each of the three types requires the payment of accommodation bond (for low-care and extra services) or accommodation charge (for high-care). This requires assessment of your assets that should be adequate to cover the bond and charge. In addition, a bare minimum should be left with you after paying these costs. Sydney aged care financial advisers help cross this assessment hurdle.
Negotiating the Accommodation Bond This is probably the most important need for hiring financial advisor aged care assistance. Facilities offering aged care set targeted bond range for different contenders. Negotiating a lower bond may result in losing the facility of your choice. You may opt for negotiating a higher bond, but it may decrease your financial assets significantly. Definitely, you need expert guidance to deal with the situation. Arranging the Accommodation Payments Accommodation bond or charge accounts for the accommodation payments that you can arrange through your assets (property and cars) and bank savings. Now, you must take some important decisions like whether to sell your house or rent it out. Yet another important choice is whether to pay the whole amount in a lump sum or through periodic payments. Consulting one of the Sydney aged care financial advisors would matter in this regard too. Maintaining the Cash Flow Apart from the accommodation payments, you must also arrange for other costs (including basic daily fee, income tested fee and extra service fee). To deal with these costs, you must maintain a source of constant cash flow. The financial adviser would help you invest in a lifetime annuity or any other useful product with suitable returns. In a nutshell, hiring an aged care financial advice in Sydney will help you take every step with care. Look for the best financial planner aged care Sydney services to secure the desired comfort and security for the remaining period of your life.