Moving into residential aged care can be a stressful period with complicated rules, family conflicts and rushed timeframes. This can easily lead to mistakes, which can be costly and difficult to rectify. This article highlights three common mistakes and tips to avoid the traps 1. Rushing your decision The biggest expense you will face is the cost of your room, which is likely to be quoted as hundreds of thousands of dollars. However, you might choose to pay a daily fee instead of the big lump sum. When signing contracts, many people feel pressured to make quick decisions which might…

The saying goes, you can’t have your cake and eat it too, but with a new brain-friendly cake perhaps you just can. With the Festive Season almost here, you might not want to think about the impact on your waistline. How often are we told that we should stop eating cake and sugar, to lose weight or improve our health? But for those who like a piece of cake, the good news is that a recent collaboration by Meals on Wheels NSW has developed a “brain-friendly cake”. This collaboration produced a cake which uses ingredients that are beneficial to the…

Second marriages may present additional financial challenges when balancing day-to-day expenses with implications for aged care funding. You may not share finances equally, but Centrelink/DVA will assess your obligations as if you do. Life is full of ups and downs. You might have been unlucky and lost a spouse, but then been lucky to find love again. A new relationship can bring companionship and support but may also bring financial challenges, especially with funding aged care and estate plans. Some couples may be willing to share a life but may prefer to keep finances separate so inheritances can pass to…