Navigating the aged care system in Australia can be complex and overwhelming. Whether you’re planning for your own future, or helping a loved one transition into care, obtaining aged care advice from a qualified professional can make a significant difference in both financial outcomes and peace of mind.
In this article, we’ll explore why seeking expert aged care advice is a smart move—and how it can help you make informed, confident decisions during what is often a highly emotional time.
The Complexity of Aged Care in Australia
ged care services in Australia are funded through a mix of government subsidies and personal contributions. From home care packages and residential aged care to respite care and retirement villages, each option has its own eligibility requirements, cost structures, and long-term implications.
Understanding:
Means-tested fees
Daily care fees
Accommodation payments
Refundable Accommodation Deposits (RADs)
Income and asset assessments
…can be daunting without professional guidance. The My Aged Care website provides a helpful starting point, but interpreting the rules and making the right financial decisions often requires personalised advice.
What Is Aged Care Advice?
Aged care advice refers to specialised financial and strategic guidance provided by licensed professionals—often financial advisers, accountants, or aged care consultants—who are experienced in aged care planning. These experts help clients assess their options, model the financial impact of care decisions, and structure their affairs to maximise entitlements and preserve wealth. For example, at Holzworth Partners, we tailor aged care solutions to the specific needs of each client.
Key Benefits of Seeking Aged Care Advice
1. Clarity on Care Options
Aged care advisers provide a clear explanation of the types of care available and how to access them. They also help you understand the differences between government-funded and private services, ensuring you choose an option that meets your care needs and budget. For official service standards, refer to the Aged Care Quality and Safety Commission.
2. Financial Modelling and Planning
Entering aged care often involves the sale of assets, use of superannuation, and changes to pensions or other entitlements. Aged care professionals can project different scenarios to show the financial impact of each decision—helping you avoid costly mistakes.
3. Support with Centrelink and DVA
Navigating Centrelink or the Department of Veterans’ Affairs (DVA) can be stressful. Aged care advisers assist with income and asset assessments, ensuring you understand how aged care fees will be calculated and that you’re receiving all entitlements. You can also review current reforms on the Department of Health’s aged care reform page.
4. Estate Planning Considerations
Aged care planning is closely tied to estate planning. Professionals can guide you on updating wills, powers of attorney, and advanced care directives to reflect your current wishes and ensure loved ones are protected. If you need legal assistance, Holzworth Partners can refer you to qualified professionals in our extended network.
5. Reducing Stress on Families
Making aged care decisions can strain families emotionally and financially. Having an experienced adviser guide the process brings objectivity, facilitates open communication, and often reduces family conflict. For those who require additional advocacy, the Older Persons Advocacy Network (OPAN) provides free and independent support.
When Should You Speak to an Aged Care Adviser?
Ideally, aged care advice should be sought well before care is urgently required. Early planning allows for greater flexibility in decision-making and asset protection. However, it’s never too late—advice at any stage of the journey can improve outcomes.
You should consider speaking to an adviser when:
You or a loved one is struggling to live independently
You’re considering selling the family home to fund care
A loved one has received a home care package or ACAT assessment
You’re facing a sudden health change and care is needed quickly
You’re unsure how aged care fees will affect pension or tax positions
Informed decisions lead to better outcomes—and when it comes to aged care, the right advice can save you thousands of dollars and considerable stress. Whether you’re planning early or responding to a sudden need, professional aged care advice ensures you’re not navigating the system alone.
At Holzworth Partners, we understand the emotional and financial complexities of aged care. Our team offers tailored aged care advice to help you and your family feel supported every step of the way.
📞 Contact us today to book a confidential consultation and start planning with confidence.