A comprehensive approach to Aged Care MUST include a review of Estate plans and how they may be impacted by Aged Care decisions.  We are constantly surprised at how many of our clients do not have Powers of Attorney in place (or have unsuitable PoA’s).  Often Wills and Powers of Attorney are created  ”ïn the now” and do not take into account possible future aged care scenarios.  If not reviewed at the appropriate time, Aged care decisions can have a disastrous effect on Estate Planning outcomes.
Many of our clients simply assume they are able to manage their partners finances on their behalf or perhaps their parents finances, as they are already a signatory on bank accounts.  The end result is often that the residents financial affairs are ultimately controlled by the Public Trustee.  An expensive option and, as this Four Corners report found, sometimes a disastrous outcome for everybody.
https://www.abc.net.au/news/2022-03-14/siham-benz-public-trustee-mothers-money-to-help-investigate-her/100903488
Our comprehensive Aged Care Advice service includes estate Planning considerations and where necessary, referral to appropriate Professionals for more detailed advice