Case Study

Aged Care

At Six Pillars, we recognize that choosing to place a loved one in aged care can be a challenging and emotional decision. Our goal is to provide our clients with a supportive service grounded in care and diligence, helping to alleviate the stress associated with this process as much as possible.

Case Study: Katherine and Charles Acting for Steven and Margaret

Katherine and Charles are seeking guidance on arranging aged care for their parents, Steven and Margaret, as they are worried about their parents' ability to care for themselves.

They would like assistance in projecting the costs associated with aged care and exploring strategies to minimize the estate's tax burden.

Process

Katherine and Charles shared cost estimates for the preferred aged care facility for Steven and Margaret with Six Pillars. They also provided comprehensive information about their financial and personal assets, crucial for the aged care assessments. Both siblings voiced their concerns regarding the high fees associated with aged care and expressed confusion about the overall process. In response, Six Pillars conducted in-depth research and collaborated with Katherine and Charles to develop a tailored strategy that addressed their specific needs.

Advice Outcome

Six Pillars effectively organized Katherine and Charles' financial affairs to facilitate placing Steven and Margaret in their preferred aged care facility while ensuring the costs were manageable.
In addition to structuring their assets, they successfully secured additional Centrelink benefits that enhanced their income.
A thorough review of Steven and Margaret’s superannuation and investments was conducted to ensure they would have a sustainable income to cover their daily care needs, alongside the Centrelink benefits.
A comprehensive review of the estate plan was performed, considering the long-term implications for the estate to achieve a favorable outcome.

Six Pillars is here to guide you through the complexities of the aged care process. We are committed to helping you achieve the best possible outcome for yourself and your loved ones.

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Sydney CBD

Level 57, 25 Martin Place Sydney NSW 2000

Postal Address

P O Box 352,

Paramatta, NSW, 2124

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Disclaimer: Six Pillars Wealth (ABN 68 682 649 538) as a Corporate Authorised Representative (001314068) and Laxmi (Lucky) Manna Authorised Representative (1002602) ; Lionel Iheanacho Authorised Representative (1002528)are authorised by Templestone Financial Services Pty Ltd (ABN 99 641 075 952) AFSL 523831 to provide financial services only. Any advice in this publication is of general nature only and has not been tailored to your personal circumstances. Please seek personal advice prior to acting on this information.

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