This trend has triggered an increase in interest in ‘granny flat arrangements’. I spoke with lawyer, Jo Twible, Principal, KJB Law, and retirement village entry and exit specialist, about preparing for a win-win situation when entering into a ‘granny flat arrangement’.
According to Craig, a senior financial planner and aged care professional™ for some senior Australians “gifting may seem like a good idea at the time to help out family members, but the implications for the parents as they are entering permanent residential aged care as they are often unable to afford the aged care facility of choice because they were unaware of the high cost involved.”
As we approach the end of another year many people will be looking forward to the festive season and the chance to slow down and catch up with family, particularly elderly parents. Busy lives and distant homes can make it easy to feel out of touch. Sadly, at this time of year adult children may also begin to notice changes in their ageing parents.
Home Care Packages can be an option if you need a coordinated approach to the delivery of your help at home. You’re expected to contribute to the cost of your care if you can afford it. Your contribution is made up of three types of fees explained in this article.
With the end of the financial year fast approaching, now is the perfect time to ensure everything is in place for your SMSF before 30 June. The following are some superannuation strategies that you might want to know more about to get the best out of your SMSF.
A granny Flat Right is a viable consideration for senior Australians when considering their accommodation options when they are either struggling to cope living independently due to health or financial reasons or simply want to be closer to their family.