Australians should manage their aged care needs
Most Australians would choose not to enter care, however often the decision is not left up to them, according to HLB Mann Judd Sydney.
Therefore, people should minimise the risk of being put in this situation, with a bit of preparation, the firm warned.
According to HLB Mann Judd Sydney’s wealth management director, Melinda Measday, one of the things that families could do to help manage this situation is to communicate with family members and make a plan in case of illness or a fall.
“Talk to friends and find out if they have personal experience with any homes and can recommend somewhere. Ask elderly parents if they have any preferences or wishes,” she said.
Measday also reminded that it was possible to organise an Aged Care Assessment Team (ACAT) assessment while still at home, which could help people work out whether they were eligible for support such as a home care package or residential respite care.
People should also visit aged care facilities to review what they offer and how they operate, and determine which facility would be preferred.
“For those who think it is likely that they, or their parent, will need care in the future, but who would strongly prefer to remain in their own home, consider getting a grandchild or uni student to live in the house, or even a family friend so there is overnight support if needed,” Measday said.
“Overall, the best approach is to seek help early, and keep the lines of communication open so that everyone involved is prepared, and knows what is expected of them if the worst happens.”
AUTHOR
Oksana Patron
Recommended for you
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
A $3.5 million settlement for victims of Melissa Caddick has been approved by the Federal Court following an initial agreement last December.
The Reserve Bank of Australia has delivered its first rate decision since the introduction of a new board structure last month.
Digital advice provider Otivo has launched an interactive tool, powered by artificial intelligence and Otivo’s own advice engine, to help answer client questions.
