Australian Financial Planning Handbook, Chapter 19, Aged Care Planning
The Aged Care Planning module is designed to provide planners with the knowledge required to advise clients who need aged care or who are considering aged care. This module is taken directly from the Australian Financial Planning Handbook.
Aged care is a broad area with various options including life interests, retirement villages, home care and residential aged care. The rules associated with these options can be very complex and the strategies to meet clients' needs can vary significantly depending on their circumstances.
The need for aged care is often sudden with decisions having to be made with a sense of urgency. This can be a very emotional time for clients particularly when the situation requires that they move out of their home. The complexity of aged care combined with the urgency of the situation can result in unintended outcomes when decisions are made without seeking advice.
The Aged Care Planning module will assist planners to understand the aged care system and deliver strategies that help clients to navigate this complex and emotional life stage. The various aged care options are explained as well as the traps to be aware of. Case Studies are used to identify appropriate strategies in different circumstances and demonstrate the value of advice for clients.
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