OUR SERVICES / Aged Care
Navigating aged care is deeply personal, emotionally charged and full of complex financial decisions. You don’t need to figure it out alone.
Coastal’s financial advice for aged care can help you make confident, informed decisions with practical advice from retirement village selection, aged care facilities or in house support.
With expert aged care financial planning and advice, we help you move forward with confidence; preserving dignity, protecting assets and making sure your choices reflect your values.
How we can help
Aged care planning, done thoughtfully.
From assessing care options to structuring your finances and accessing government support, our aged care financial advice is designed to support your well-being and peace of mind every step of the way.
Understand your aged care options
We help you explore all the care settings available; home care, respite services, residential aged care or transition options. We’ll explain the costs, trade‑offs and financial implications for each choice.
Review your financial position
We take stock of your assets, income, superannuation, property, debts and cash flow to understand what you currently hold and how it affects affordability and eligibility for aged care support.
Access government subsidies and benefits
Navigating government aged care subsidies, means testing and fees is often confusing. We help you identify what you’re eligible for (the Home Care Package, means-tested care fees, or other support) and how to structure your finances to make the most of them.
Structure your finances smartly
We explore strategies that protect your assets, maintain cash flow, manage tax implications, and maintain your eligibility for benefits all while aligning with your goals and wishes.
Prepare documents, plans and succession
We assist with power of attorney, enduring guardianships, wills and succession planning, so your legal affairs align with your care choices and wishes for your estate.
Ongoing review and transition support
Your care needs, finances and preferences may shift over time. We keep your plan up to date, revisit assumptions and help smooth transitions as circumstances change.
STRATEGIES
Practical strategies to bring clarity, control and protection.
Map your care options and associated costs
Perform means testing and eligibility assessments
Structure assets and income to minimise cost and maximise benefit
Plan for entry, exit and transition into residential care
Navigate deferred management fees, refund strategies and sale of property
Use superannuation, pensions and Centrelink strategically
Implement legal protections (POA, guardianship, will)
Review and update your plan as health or financial conditions change
BENEFITS
The advantages of having expert aged care financial advice.
Confidence in your decisions
You’ll make care choices from strength, knowing your finances, care options and legal protections are aligned.
Asset & legacy protection
We help you preserve what matters most to you; your home, wealth and inheritance plans.
Cost clarity
Understand exactly what aged care will cost you and how to structure your finances to reduce surprises.
Eligibility optimisation
We help you manage your financial position to work within means tests and subsidies, so you don’t miss out on support.
Emotional peace of mind
Facing aged care can be stressful. Knowing you have a considered, ethical strategy behind your choices brings calm and clarity.
Flexibility & control
Your plan will adapt as your situation changes — helping you shift care levels or living arrangements without financial panic.
CONTACT US
Get aged care financial planning advice that respects your dignity and supports your future.
FREQUENTLY ASKED QUESTIONS
Got questions? We have the answers.
Do I need to surrender all of my personal wealth to the aged care facility when I enter?
The requirements for entering assisted living accommodation, the expenses you will incur, and where your savings will go can be confusing and subject to false assumptions. Retirees have a common misconception that once they join an assisted care facility, money, investments, and property are no longer theirs. However, this will stay yours until you decide differently.
Moving into an assisted care facility should not affect your financial situation unless your wealth is poorly handled. It is recommended that you seek specialist aged care financial planning before finalising any plans.
Should you sell or keep your home?
If you are moving into Aged Care, you may be thinking of selling your home to pay for the bond/RAD (Refundable Accommodation Deposit).
Or maybe you’re thinking of renting your home out to help you pay for the ongoing costs?
The choice you make with your property can affect your pension, tax, and care fees. It is important to consider the financial and tax implications.
According to ASIC (Australian Securities & Investments Commission), here are some things you should consider when making the decision about your home.
| If you sell your home | Its value will count towards the Age Pension assets test. |
| If you rent out your home | Its value may count towards the Age Pension test depending on when you moved into aged care. |
| If you keep your home without renting it out | It is exempt from the Age Pension assets test for 2 years from the date you moved into aged care. |
It’s important to note that the table above is only a general guide – specialist aged care financial planning can help you determine what the detailed implications are for your situation.
What are the costs associated with aged care and how can I plan for them?
The costs associated with aged care in Australia can vary based on individual circumstances. According to My Aged Care, the costs generally include the following components:
- Basic Daily Fees that cover day-to-day living costs such as meals, cleaning, and laundry. It is paid by everyone receiving aged care services.
- A Means-Tested Care Fee, which some individuals may need to contribute to the cost of their care based on an assessment of their income and assets. The amount is determined by a means assessment.
- Accommodation Costs, which individuals may need to pay depending on their means assessment, for their accommodation in an aged care home. The costs can vary based on the type of care needed and the chosen aged care home.
- Extra Services Fees may apply for extra services provided by the aged care home, such as higher standards of accommodation or additional lifestyle services.
To plan for these costs, individuals can use the Fee Estimator on the My Aged Care website to get an estimate of the fees they may be asked to pay based on their income and assets.
What is a Non-Concessional Contribution?
A non-concessional contribution is made from after-tax income and is not taxed in your super fund. Common examples of non-concessional contributions include:
- a government co-contribution.
- voluntary additional payments made from your after-tax income,
- any made on behalf of your spouse (married or de facto),
What are my options for funding aged care?
The options for funding aged care in Australia include various sources such as personal funds, government programs, and private financing options. Here are some key options:
- Personal Funds: Many older adults use their personal savings and income to fund their aged care needs.
- Government Programs: The Australian Government subsidises aged care, and the subsidy amount depends on the individual’s needs. This makes aged care more affordable for those in need.
- Private Financing Options: Private payment options, including long-term care insurance and reverse mortgages, are available to fund aged care.
Planning for aged care costs requires considering the type of help needed, the chosen provider, and the individual’s financial situation. Seeking advice from financial professionals like accountants, financial planners, and investment advisors can help navigate the details.
How can I protect my assets and ensure they are passed on to my beneficiaries?
To protect your assets and ensure your beneficiaries receive them, you can consider the following strategies:
- Writing a Will: A will is a legal document that outlines how your assets will be distributed after your death. Update your will regularly to reflect any changes in your circumstances or wishes.
- Beneficiary Designations: Certain assets, such as life insurance policies and retirement accounts, allow you to name beneficiaries who will receive the assets upon your death. Review and update these designations regularly.
- Creating a Trust: A trust is a legal arrangement that allows you to transfer assets to a trustee who will manage them for the benefit of your beneficiaries. Trusts can provide greater control over how your assets are distributed and can offer protection from creditors and other legal challenges.
- Asset Protection Strategies: Asset protection strategies, such as limited partnerships and spendthrift clauses, can help safeguard your assets from creditors and legal challenges.
- Seeking Professional Advice: Seeking advice from financial and legal professionals, such as accountants, financial planners, investment advisors, and estate planning attorneys, can help you understand your options and develop a comprehensive plan to protect your assets and ensure your beneficiaries receive them.
Individual situations and needs may differ, therefore it is critical to personalise your asset protection plan to your specific situation.