On Saturday 16th November 2024, Wesley Mission are opening their doors at Alan Walker Village for an Open Day. Come explore what your retirement can look like by meeting the welcoming Carlingford community. You’ll be able to see and experience the onsite facilities and local services. The Balance team will also be attending and will […]
In helping our clients move into aged care, on occasions we see their wills to ensure that whatever strategy they adopt to pay for their aged care does not conflict with their testamentary intentions. However, we frequently come across problems in the will that have not been picked up that may cause a problem after the […]
If both members of a couple are in aged care and one of them were to pass or if one is in care and the other at home (but the one at home passes first) then if they have left assets to the survivor, then the aged care fees for the survivor are highly likely to increase significantly. […]
The proposed changes to aged care fees aired to the public on the 12th of September will bring quite radical change to the aged care system. This will deliver more funding from the Government to the aged care system (which is drastically needed by facilities). However, it will also cost the residents more money as […]
Centrelink and the Department of Veterans Affairs (DVA) index their means tested pensions on the 20th March and 20th September each year. The changes to both Centrelink and DVA pensions are as follows: Centrelink (Maximum Pension Entitlement) Singles Couples Illness Separated Couple Now ($ per fortnight) $1,144.40 $862.60 each $1,725.20 combined $1,144.40 each $2,288.80 combined […]
Just as Centrelink and the Department of Veterans Affairs index their pensions twice a year, some of the fees charged in residential aged care and home care are also indexed on the same dates (20th March and 20th September each year.). Below are the changes to the fees which are indexed for residential aged care […]
This Saturday, 31st August, the team at Our Lady Mercy Place Harris Park are opening their doors for their Open Day. Be welcomed by their residents and staff to experience what Aged Care can look like for your loved ones with a tour of their brand new facility. The team at Balance will be there […]
Are you contemplating moving your parents on to your property and potentially building a Granny Flat? One important topic to discuss in this situation, is if mum or dad own their property and sell it, this could affect their pension. If your parents gift you some of the proceeds of the sale of their property, […]
Once someone or a couple retires, the emphasis needs to be on understanding what their cost of living is going to be in retirement. The focus turns to how do we deliver enough income on a regular basis to cover not only the cost of living now but also what the cost is going to […]
The gifting rules are often mistaken and usually not well understood by the general public. If gifting assets to family or friends it is important to understand the rules and make the correct choices regarding gifting. If you are to make a mistake regarding gifting it could potentially affect your pension and/or aged care costs […]