ACWC_Cover_2016_3D-2Amongst the presents, the turkey and the tinsel this Christmas there were plenty of families who would have had conversations about care. If you are considering the options for yourself or a loved one, here are some of the key things to consider.

First, where will you live? The options are much broader than either staying at home or moving to residential aged care. For example, you may wish to consider living with family (establishing what Centrelink call a “granny flat right”) or moving to a retirement village or land lease community.

Next, what care will you need? A crucial thing to consider in your choice of living arrangements is your ability to get care and at what point you may need to move on.

Finally, how much will it cost? Breaking the total down into the cost of your accommodation, the cost of personal expense and the cost of care makes it easier to juggle your priorities. There are a range of financial products and strategies you can consider, including: borrowing to fund care; keeping and renting your former home; even paying more for your retirement village on entry to pay less on exit and to remain under key asset thresholds in the meantime …

Rachel Lane and I have just released the third edition of our best-seller: Aged Care, Who Cares? The book helps people who are investigating their options to understand the many wonderful choices available, while giving them some tips – and alerting them to some of the traps ­– of dealing with the complexities of our aged care system.

Aged Care, Who Cares? is available for $24.99 from www.agedcarewhocares.com.au