As Australia's population continues to age, the proportion of people over 65 is rising. Many elderly people aim to remain independent and live in their own homes. But in some cases this isn't possible.
Fortunately, there are many options. Sometimes staying at home with regular support is possible and sometimes full-time in-home care is required. You may find that eventually you're faced with the difficult decision of helping your parents move to another residence where their wellbeing can be better supported.
Working with an Partners OHM Financial Services adviser will ensure you're aware of the options available to your parents, that their needs are met and they do not unintentionally forego any financial entitlements.
Your Partners OHM Financial Services adviser will look at the structure of your parents' assets to maximise Centrelink aged-care and health-care benefits to help their savings and support them to stay at home.
The impact of capital gains tax as a result of the sale of any assets may also be reduced or avoided altogether.
A Partners OHM Financial Services financial planner can be there with you from the start to assist you with every aspect of exploring and managing your parents' options and needs. For example, by:
General advice warning: This website contains information that is general in nature. It does not take into account
the objectives, financial situation or needs of any particular person.You need to consider your financial situation
and needs before making any decisions based on this information.
PRPIA Pty Ltd ABN 61 144 888 433
Corporate Authorised Representative
Charter Financial Planning Limited ABN 35 002 976 294
Australian Financial Services Licensee Licence number 234665
Principal Address: Level 22 / 33 Alfred Street, Sydney, NSW 2000