While we covered off the topic of Asset test changes and age pension in November 2016, I believe it is important to again highlight some of the effects of the changes now that they are actually in force.
It is highly likely that individuals moving into aged care from 1 January 2017 may face increased cashflow pressure due to altered treatment of the former home.
I have been very fortunate over the years to travel to some fantastic spots both in Australia and abroad. I have just returned from a family holiday on the NSW North Coast. Coming from a surfing background I won’t reveal the exact location of our secret spot but after getting away from the stress of the daily grind I had a light bulb moment. But first let me set the scene.
Most of us have an opinion on almost every topic … be it the weather, interest rates, the best way to butter toast or who’s going to win the footy on the weekend and why. Just recently with the Rio Olympics I found myself becoming somewhat of an armchair expert. Despite having almost no knowledge of most Olympic sports, I was only too willing to tell anyone within earshot why Australia was robbed in synchronised swimming or why our shooters did so well.
I am sure many of you have heard your elderly loved ones expressing the above thoughts when asked about Aged Care or where they plan living the rest of their lives.
Many adult children have difficulty talking to their elderly parents about their future needs and care.
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