Why You Should Start Aged Care Planning Early

Aged care planning is often triggered by small, gradual changes—perhaps an ageing parent is struggling with daily tasks, or you’re beginning to think about your own future care needs. While these realisations can feel overwhelming, taking proactive steps now can significantly improve outcomes for you and your loved ones.

The Power of Early Aged Care Planning

Starting your aged care journey well before an immediate need arises allows you to:

Explore options without pressure – Avoid rushed decisions by understanding available services and care pathways in advance.
Have open conversations with family – Discuss preferences, expectations, and responsibilities before a crisis forces quick choices.
Make informed financial decisions – Protect your assets, optimise government support, and plan for sustainable care.
Minimise emotional and financial stress – Last-minute decisions can be costly and emotionally taxing for families.
Secure your place in the system – Demand for aged care services is growing, and early registration helps prevent delays when care is needed.

Getting Into the System: A Crucial First Step

One of the most important actions you can take is registering with My Aged Care and arranging an assessment (ACAT/ ACAS assessment) early, as this process can be lengthy. Being in the system before urgent care is required will help:

Reduce waiting times when services are needed.
Ensure you’re known to providers, increasing access to appropriate care.
Prioritise your care needs as they change over time.
Make the assessment process smoother and more considered, rather than a rushed evaluation during a crisis.

The Assessment Process: Why It Matters

Your My Aged Care assessment determines eligibility for government-subsidised services and helps determine your care pathway. Through this process, you will:

Understand whether in-home support or residential care is the right fit.
Gain clarity on costs and available subsidies.
Establish your place in the queue for services, avoiding unnecessary delays.

Navigating the Aged Care Financial Planning

Aged care often involves significant financial considerations, including:

Home Care Packages – Government-subsidised programs to support independent living.
Residential Care Costs – Including the Refundable Accommodation Deposit (RAD) and daily fees.
Asset and income tests – Affecting eligibility for government assistance and care fees.

Understanding these financial aspects early allows you to structure your finances effectively, avoid unexpected costs, and maintain financial security while ensuring quality care.

Why Aged Care Financial Advice is Essential

Aged care decisions are complex, and seeking expert aged care financial guidance early can make all the difference. Our Morrows aged care financial advisors can:

Clarify care options and associated costs.
Develop a tailored aged care financial strategy to fund future care needs.
Optimise your financial position for aged care assessments.
Help navigate government subsidies and entitlements effectively.
Align your aged care decisions with broader financial and estate planning goals.

How Morrows Can Help

Don’t wait for a crisis to start aged care planning. The earlier you begin, the more control you have over your choices and financial security. Contact your Morrows Aged Care advisor at (03) 9690 5700 to start developing a comprehensive aged care plan.

By acting early, you can approach aged care decisions with confidence and peace of mind, knowing you have prepared for the future in the best possible way.

IMPORTANT INFORMATION: The information is general only and has been prepared without consideration of your individual objectives, financial situation or needs. Before making any decisions, you should consider the appropriateness of your personal investment objectives, financial situation or individual needs. We recommend you speak to your financial adviser, registered tax agent or legal adviser before making any decisions based on this information.

Emma Stoffels

Morrows Senior Financial Adviser

Emma Stoffels has over 20 years’ experience in the financial services industry and has helped wealth accumulators, retirees, and supported many women during her career as a Financial Advisor. She is a Certified Financial Planner and an Accredited Aged Care Professional. Emma is passionate about assisting clients from all walks of life achieve the best financial outcomes possible while building strong relationships with her clients. Emma’s particular areas of interest include Aged Care Financial Planning, Retirement Planning, Superannuation / SMSF and Goal Setting.

Want to learn more? Download Our FREE Aged Care Guide!

To understand more about the aged care process, the fees and key considerations, please complete the form below to access our Aged Care Planning Guide.

If you need further assistance, please reach out, our Morrows Advisors are more than happy to help you and your loved ones.