Aged Care Advice
Navigating aged care can be complex and emotional. We provide clear, compassionate financial advice to help your family make informed decisions.
Make an Enquiry or call 03 9370 1339
CFP®
Accredited Aged Care Specialist
FAAA member
Authorised Representative of Millennium3 Financial Services (AFSL 244252)
Aged Care topics we cover
When a parent moves into care, the financial decisions come fast and the numbers are large. We make them clear.
Understanding Residential Aged Care Costs
Residential aged care involves several fees including a Basic Daily Fee, Means-Tested Care Fee, and a Refundable Accommodation Deposit (RAD) or Daily Accommodation Payment (DAP). We explain each component and model the total cost for your situation.
The Centrelink Means Assessment
Before entering residential aged care, Centrelink conducts an income and assets assessment to determine what you contribute to your care costs. We prepare you for this assessment and help you understand the outcome and any strategies to consider.
RAD vs DAP — Which is Right for You?
A Refundable Accommodation Deposit (RAD) is a lump sum paid to the aged care facility, while a Daily Accommodation Payment (DAP) is a daily fee. You can also pay a combination of both. The right choice depends on your cashflow, investments and tax position.
Impact on Age Pension and Centrelink Benefits
Moving into aged care can affect your Age Pension and other Centrelink benefits. We model the before and after scenarios so you understand exactly how your entitlements will change and what steps can be taken to preserve them where possible.
The Family Home in Aged Care
One of the most significant decisions in aged care planning is what to do with the family home. Whether to rent, sell, or retain it can have major financial and Centrelink implications. We help you navigate these decisions with confidence.
Home Care Packages
Before moving into residential care, many people use a government-funded Home Care Package to stay in their own home. We help you understand what's available, how to access it, and how to structure your finances around it.
These decisions are often time-sensitive
How you fund a Refundable Accommodation Deposit and how assets are assessed can affect ongoing fees from day one — and some choices are difficult to undo. Getting advice early, before you commit, usually makes the biggest difference. If you're facing a decision now, please call us.
How it works
1
Enquire
Send a quick message or call — no obligation.
2
A quick chat
We listen, and make sure we're the right fit to help.
3
Clear advice
The options modelled simply, so your family can decide.