Through a quirk of Federation, retirement living is regulated by the New South Wales State government while Aged Care is regulated by the Federal government. This can create complexity and stress as one moves from the family home through retirement living and on to aged care, or indeed from the family home directly to aged care.
Skilled advice is needed to minimise the costs in this regard. Partner Madeleine Reid and solicitor Robert Kilgannon can advise in this regard, taking some of the stress and apprehension away at this often worrying time.
119 Cronulla Street, Cronulla NSW 2230
It is essential to obtain proper legal advice before you enter a granny flat arrangement. It is necessary to consider any Centrelink entitlements you may receive, as well as consider your succession documents. In relation to retirement village units, did you know that there are several ways for individuals to own or occupy retirement village units?
Before you enter an aged care facility, you may be eligible for services in your home, such as home and community care packages and home care packages.
However, if your Aged Care Assessment Team (ACAT) requires you to enter aged care, the Commonwealth Government will regulate your accommodation. The Aged Care Act and Aged Care Principles have been reformed and apply to any person entering an Aged Care Facility after 1 July 2014.
Now that the costs of entering an aged care facility have a means-tested component, notwithstanding that there are lifetime caps to the means-tested payments, it is important to obtain proper legal advice as the calculation of aged care costs can be complicated. You may also be able to obtain advice about your succession planning and ownership of your assets before you complete an asset assessment form.
There is a standard retirement village contract but retirement villages do not all act in the same way and do not offer you the same security for your money. If you would like advice about moving into or exiting a retirement village, contact us today.
