by Bottrell WealthNaturally, when investigating options for an elderly person, finding the right level of care is crucial, as is anticipating future care requirements and planning for them. Given a choice, most people would prefer to remain in their own homes and the government has committed to ensuring that home care resources will be gradually increased over […]
by Bottrell WealthPutting aged care costs into perspective – a story A growing number of Australians are encountering the challenges of assisting elderly relatives with the move into aged care. One of them was a new client of ours, let’s call him Rob. Recently, he had to help his formerly active 78-year-old mother, Mary, with the painful […]
by Bottrell WealthDon’t forget these important documents What would happen if you were physically unable to sign important documents or became mentally incapable of making key decisions? This is when a Power of Attorney becomes a vital tool in managing your life – when you are unable to. Put simply, a Power of Attorney is a legal […]
by Bottrell WealthOne of the key tasks for anyone assisting an elderly relative with the move into aged care is to investigate the various fees and charges, some of which are subject to both assets and income means tests. As the family home is often the largest asset and can be a source of income if rented […]
by Bottrell WealthAccording to the Australian Bureau of Statistics, in 2017 almost 3.8 million Australians were aged 65 and over. Consider for a moment: this figure shows those people contemplating aged care for elderly family members are fast approaching the age when they’ll need it themselves. Sobering thought. What this means is that as aged care becomes […]
by Bottrell WealthThe first step – Assessment Illness, disability or the passing of the years can make it difficult for you or your loved one to maintain an independent lifestyle. The ideal is to remain in one’s own home for as long as is reasonable and safe, but knowing when independence is no longer feasible is the […]
by Bottrell WealthWho decides what happens to your superannuation savings when you die? You may think that you do, but that isn’t always the case. The ultimate decision may be made by someone you don’t even know – the trustee of your superannuation fund. Let’s look at how you can have greater control. BINDING DEATH BENEFIT NOMINATIONS […]
by Bottrell WealthIt is important to be aware of exactly when and how you can access your super, and what you can do in the meantime to make sure it is working to your advantage. PRESERVED UNTIL WHEN? The super rules state that you can’t generally get your hands on your benefit until you meet at least […]
by Bottrell WealthThe attractiveness of superannuation as an investment and savings vehicle is well known. As we mentioned earlier, although the federal government places limits on the amount of tax-effective contributions we can make, the ability to structure insurance arrangements through super remains. HOW DOES INSURANCE THROUGH SUPER WORK? The types of insurances considered here are limited […]
by Bottrell WealthDespite frequent changes to its governing rules, superannuation remains, for most people, a tax-effective environment in which to save for retirement. Here’s a quick Q&A on the what, why and how of contributing to superannuation from this point on. WHY SHOULD I CONTRIBUTE TO SUPER? Some super contributions and the investment earnings within super […]