Aged care decisions can have a huge impact on a person’s financial position so it’s important to get the right advice.

Here are some things to consider when moving a loved one into an aged care facility:

• An Accommodation Bond, possibly amounting to over $100,000 may be required to enter the aged care facility. How will this be funded?
• Do you have to sell the family home, or are there other options?
• How much will the aged care fees be each month?
• What government benefits or subsidies is the person entitled to?
• How can you invest their money to last for the long term?
• Are Wills and other estate plans in order?

A financial adviser can help you answer these questions to ensure you make the right choices for your loved one’s future.