Four Corners and Fairfax Media have recently reported on a story about retirement village living which is worrying. My advice to anyone contemplating entering a retirement village is that they should first speak with their family and let them know what they are planning before entering into any contract. They should also seek legal advice about the details of any contract they contemplate entering into, seeking clarification on not only the financial aspects of the contract but also looking at the fine print on lifestyle regulations. This is good practice for any contract, but particularly in the instance of retirement living as the stakes are so high.
Aged Care is not a trademark and any organisation can state they provide aged care. It’s important to understand the difference between private retirement living companies who advertise that they provide aged care and Government funded aged care.
Checking out all aspects of a retirement village or aged care facility is extremely important. This is one of the reasons clients use my aged care consultancy services.They know they will have a professional who will find them the right place to live in their later years and that I will thoroughly assess the suitability of each option. I recommend that my clients seek further professional input from their legal advisors and financial planners experienced in the aged care field.
During my career as an Aged Care Placement Consultant I have seen many cases where a knowledgeable Financial Planner has given advice to a client that has made a positive difference to the type of accommodation they were able to acquire. I care very much for the welfare of all my clients and do not want to see them suffer as they make these very challenging transitions in life from their own home to a retirement village or an aged care facility.