As part of my ongoing education within the ever-evolving financial advice industry, a number of changes were implemented on 1 July as part of the Living Longer, Living Better (LLLB) program.
The emphasis of this program is that Australians now have greater flexibility from 1 July regarding their care, now known as Client Directed Care (CDC) and can choose how they are cared for, where they will be cared for and what fees they will pay for this care.
In my experience, when people think about ‘care’ they don’t immediately think about seeking the advice of a qualified financial planner. In the rare instance that people do consider it, by the time they start seeking advice, it is often too late, as many of the significant decisions have already been made.
I’ve also noticed that people moving into Retirement Villages do not seek the advice of a planner before making a life-changing decision which can adversely impact them.
When making these significant and life-changing decisions, the role of a financial planner is to consider all of the options available to them particularly regarding the following areas:
- Maximise income
- Minimise tax
- Maximise Centrelink entitlements
- Maximise wealth
- Minimise risks
- Minimise fees
- Maximise estate planning options
The advice can relate to any of the below topics:
- Retirement Villages
- Aged Care
- Home Care Packages
- Personal Injury Advice
I am pleased to announce that I am now an accredited Aged Care Specialist Adviser (ACSA™) and Personal Injury Specialist Adviser (PISA™) and can provide advice in these areas should you or a loved one need advice in this area.