Aged Care Financial Advice

Taking the load off you

Organising residential aged care for your parents can be overwhelming. It’s not just the emotional load; the financial considerations are complex, with significant implications. Then there’s actually finding the time to research and organise everything when you already have a busy life.

It helps to have someone guide you through this minefield.

Big Questions at a Difficult Time

Southern Cross FP - aged care advice, mother and daughter

People usually come to us when their family’s situation has suddenly changed:

  • We have 28 days to find a $400,000 residential deposit and only have $200,000 – how on earth will we do it?
  • Do we have to sell Mum’s house?
  • I’ve heard that when Dad enters aged care, he can lose some or all of his Age Pension; how do we then pay the fees?
  • How can we ensure there is enough money to last Mum in aged care? What if it runs out?
  • What if there is hardly any money now? Can we still get the right care in a good home?

There is an intricate relationship between income, pensions, assets, and the means-tested aged care fees you will need to pay. And these complex rules frequently change.

Don’t worry about being able to afford the care your loved one needs.

At Southern Cross Financial Planning we are specialists in aged care. Our highly experienced financial planners stay on top of the legislation so that you don’t get overwhelmed trying to figure it out or make uninformed decisions that may leave your family worse off.

Southern Cross Financial Planning guides you through the process, takes the administrative load off you, and helps make the most of your parent’s money.

Your Mum or Dad need you now more than ever, but you can’t do it alone. Let us hold your hand while you hold theirs.

How We Work With You

Souther Cross FP - aged care advice, happy older couple

We offer an initial free discussion where we review in depth your parents’ needs and their finances, and outline some possible strategies. If you’re happy to proceed we will create an action strategy set out in a detailed financial plan.

We then start the work on your behalf. Specifically we can:

  1. guide you to suitable care facilities (via a range of online resources)
  2. outline the steps ahead to help you access this care
  3. sift through the myriad financial options and determine how current laws affect you
  4. provide personalised financial advice in a clear and understandable way. We aim to:
    • maximise cashflow – income, pensions and other entitlements
    • minimise aged care fees and consider tax implications
    • explain aged care fees and what you can afford
    • provide a financial projection of how long the money will last
    • maximise the transfer of any assets to the next generation
  5. take on all the reams of paperwork for you
  6. deal with Centrelink or DVA on your behalf – no more waiting on hold over the phone for an hour or more, we will do that for you
  7. help you identify what’s important to you and your family and plan to achieve your goals.

Southern Cross Aged Care Financial Advice - holding hands

If there’s not much money, we can still help.

Your Mum or Dad are entitled to the same level of care as someone with a million dollars.

We will ensure they’re getting the maximum entitlements, guide you through the financial hardship application process if required, take care of all the confusing paperwork for you and deal with Centrelink on your behalf.

We want to save you money and time.

Lightening the Load

When someone you love needs to move into aged care it is a massive shock, and you need to make big decisions quickly. Then complex legislation makes a stressful situation even harder.

We will support and guide you through this unknown territory, step by step, taking on most of the work for you. You can sleep easy knowing that their finances are in order, you’ve avoided expensive mistakes, and of course that your loved one is safe, comfortable and in good hands.

Remember, the first consultation is free – you then decide whether to continue or not.

Simply give us a call today on 02 4058 1953 or click here to Contact Us and we’ll call you back.


John took away our worries

“When my partner needed to move into aged care we didn’t have any idea what was involved; nor did we understand the costs.

But what John at Southern Cross Financial Planning did for us was fantastic. He took away our worries about the process and the finances.”

John, Gladesville (partner)


Helpful articles about aged care:

Mum Needs to Move in to Residential Aged Care – Where on Earth Do I Start?

How to Talk to your Parents about Aged Care Planning