Author Archive | Rachel Lane

Home care

Home care: the good, the bad, and the ugly

Home Care Packages have undergone significant reforms recently, and the waiting list for such packages is growing. Advisers and their clients need to keep abreast of what those changes mean for them.

home care

Home is where the care is

Changes to Home Care Packages effective 27 February 2017 allow care recipients to choose their own care providers and offer better portability when relocating.

Pension winners and losers

Pension winners and losers from 1 January

With the new pension rules, the magic number is 7.8%. If a pensioner sells an asset to fund an improvement in the family home, the pension may increase $7,800 pa for every $100,000 over the assets test.

retiring

Prepare to pay more for aged care

Residential aged care costs are difficult to understand at any time, but many aged care facilities are introducing new fees which make comparisons even more difficult as cost rise.

family home

Family home no longer the sacred cow

From 1 January 2016, the aged care means test changed to include the value of any rental income received on the former family home. This and other proposed changes will affect aged care users differently.

retirement

Don’t have retirement village regrets

When choosing where to live in retirement, understanding the features and financial arrangements of each option is the best way to avoid those common regrets. But sort it out before making the move.

pension reforms

Study the pension reforms with great care

Under the current pension reforms, changes to the asset test taper, which are designed to reduce the entitlement of part-pensioners, will also hit ‘downsizers’ and people moving into aged care hard.

aged care reforms

Aged care reforms: are the changes fair?

The primary objective of the aged care reforms starting on 1 July 2014 was to create a better system giving older people more choice, more control and easier access to aged care services. There are unintended consequences.

Aged care and granny flats come with their own rights

A granny flat is an ideal solution for many families with ageing parents who are not ready for the nursing home, but it’s not always simple. Little is known about the ‘Granny Flat Right’ and its financial and legal implications.