Aston Ryan Malcolm, Accountants, Auditors, Financial Advisors, Victoria

Aged Care Financial Advisory Services

ARM Financial Advisors provide an Aged Care Financial Advisory Service that has seen hundreds of people expertly settled into the aged care accommodation of their choice.

The decision to specialise in this area was born from personal experiences when trying to find residential accommodation for elderly relatives and attempting to make sense of the bureaucratic maze of Income Tested Fees, Assets Assessment, Accommodation Bonds and complex care categories.

Michael and the team at ARM Financial Advisors use their expert knowledge to model personal financial strategies to use when working with clients and their families. These strategies optimise client’s finances for living in retirement and through the various stages of residential aged care.

We will help you understand all your options so you can make the best financial choices for you and your family.  All taxation issues are handled in-house as well as providing investment advice as to the appropriateness of current investments.

 

Our advisers are experienced, professional and independent of any Bank, Insurance Company or any other Financial Services company.  We work with the family to asses all assets, income and any eligible subsidies to create a financial plan to ensure that care is affordable now and in the future.  
Most importantly we will respond quickly.

Provide expert advice including analysis of current circumstances, future income & financial commitments aimed at achieving bond affordability (whilst preserving government benefits & entitlements) Provide advice on the affordability of care  Explain your facility’s costs – initial & ongoing daily charges, income tested fees & extra service Advise on the best way to pay the accommodation bond Provide investment advice to make your money last Ensure you understand the impact on Government benefits & entitlements & make sure you claim everything you’re entitled to Assess the financial impact on a partner so they aren’t financially disadvantaged

                               

Here is a checklist to help you assess your situation and the need for specialist financial advice:        How will the accommodation bond be funded ? How will cash flow be funded for on-going care ? Is it appropriate to sell the house ? Can the house be kept, using other methods to fund the bond and care ? Can the house be rented and will this be sufficient to cover costs ? Can family members help by contributing to fund the bond and, if so, how much ? How much will the aged care fees be each month ? Are there other fees; what are they and how much are they ? How important is the aged pension and are there special strategies to keep it ? How can the estate be best preserved so assets are not wasted ? Are there financial strategies for funding care now and in the future, and how often should they be reviewed ?

                                                                                                                                                        

Seeking specialist financial advice makes the decision easier.  
Email or phone 03 9551 2822 for an appointment today.