When financial situations are more complex, working out the financial implications of moving into care can be more complex.
This takes more time and will cost more.
Complexities may arise in liaising with accountants or lawyers, or different family members, or when there is a need for a deeper analysis of alternatives.
Sometimes assets and income will be more difficult to analyse in terms of how they will be treated under Centrelink tests. This may occur when the resident is receiving an overseas pension or a defined benefit pension.
Sometimes the complete asset and income position may take longer and be more difficult to collate.
A thorough analysis of these situations will require detailed financial modelling.
The process of clarifying this information will leave the family in a better position. This is because the family will have a clear view of the current situation, the situation once in care, as well as enabling the family to have the information at hand to make better decisions going forward. This is particularly relevant when the family is taking over control of the residents financial situation.
We will always quote on these situations.