Many of the families we look after include elderly relatives that require 24 hour care, or have been moved to a residential nursing home for medical reasons.
Such care is very costly, but there are more options available to provide for that cost than first appears; getting good financial advice in this area is very important.
The cost of care for the elderly can be intimidating but for those who own property and other assets it is often more affordable than it seems.
Wake up your Wealth can consider the best solutions for financing elderly nursing care and we encourage the involvement of family members in the process. The person needing care is at the centre of the process and advice is given in their best interests, but some consideration can be given to any inheritance to be left and how future increases in costs may be met.
Wake up your Wealth encourages all our retired investors to have Power of Attorney arrangements in place, and we are experienced in dealing with the particular financial impacts associated with such arrangements.