Posted on November 2nd 2016
November is here and as always it opened with the race that stops a nation. But the Melbourne Cup will be eclipsed by an even bigger race this month, and that’s the home stretch to the US Presidential election on November 8, which overshadowed global financial markets in October.
This month’s snapshot looks at entering aged care and the implications of proposed changes to both the Age Pension and aged care sectors. Entering aged care involves some difficult financial decisions at a time when families are often under emotional strain. From the start of 2017, these decisions are likely to be even more complex. One of the biggest changes is to the way the family home is assessed under the Age Pension means tests. Our article outlines the changes and what they mean for new residents when deciding whether to sell the family home or rent it out.
If you would like to discuss your aged care financing options don’t hesitate to call us.