Like most things, age care is a case of ‘buyer beware’ rather than rushing!
Recently I was contacted by a frustrated daughter…her father had signed a contract for his wife’s permanent entry to care without understanding the financial implications of his decision! He’d committed to a contract that was going to see him left paying massive care costs for his wife and struggling to make ends meet for himself.
Luckily they called me within days of the contract being signed rather than leaving it until their financial situation was too hard to handle. My initial suggestion was to exercise the cooling off period within the contract. Because the father had been desperate for support and thought it was his only option he’d committed to a bed with an expensive RAD plus extra service fees! They were going to be bleeding money.
We discussed using respite care while they found another place for the wife to live. They’ve done that, now the cost of care will be covered by the wife’s pension rather than leaving the father with no financial resources.
It’s a win for the family financially and the wife is now well cared for.
Need clarity on aged care? Call me on 0407159298