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Aged care and estate planning


As you make your way to and through retirement, it’s also important to consider aged care and estate planning.

Aged care

The need for aged care can be sudden, often triggered by unexpected changes in health. Also, it can be an uncertain and overwhelming experience for you and your family. On top of the personal and emotional challenges, there are a number of important considerations and decisions such as:

  • which facility is suitable for you.
  • what fees will you need to pay and how should you fund them.
  • what should you do with your family home, and
  • what impact will the move have on social security benefits.

View our Guide to aged care, which outlines the key steps to entering aged care and explains the fees that may apply.

Estate planning

Often, we assume estate planning simply involves making it clear in a Will who we would like to inherit assets when we pass away. However, while a Will can help ensure your estate is distributed according to your wishes, it may not be effective in dealing with a significant portion of your wealth.

For example, the proceeds from superannuation funds and life insurance policies don’t automatically form part of your estate, which means that addressing these investments in your Will may be ineffective unless you take some important additional steps.

A well-prepared and executed estate plan can ensure that your wishes are carried out so that the right assets go to the right people at the right time, in an efficient and tax-effective manner.

It can also ensure that if you’re unable to make important financial and lifestyle decisions for yourself, the right person of your choice is able to step in on your behalf.

View our Guide to planning your estate, which outlines the key tools and strategies you could use to achieve your estate planning objectives.



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General advice and information only

Any advice and information on this website is general only, and has been prepared without taking into account your particular circumstances and needs. Before acting on any advice on this website you should assess or seek advice on whether it is appropriate for your needs, financial situation and investment objectives.

Tax disclaimer

Any general tax information on this website is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of your liabilities, obligations or claim entitlements that arise, or could arise, under taxation law, and we recommend you consult with a registered tax agent.