A second edition of Aged Care, Who Cares?, the book that aims to help those seeking to get the best possible outcome from aged care, has been published to reflect the new changes since 1 July.
Written by financial advisers Noel Whittaker and Rachel Lane, the book examines some of the legal and financial implications of the various accommodation options for older people, including aged care facilities, granny flats and life tenancies, retirement villages, over 55’s communities and caravan parks.
Ms Lane said the book also looked at the different ways in which people can fund the associated costs, from simple strategies such as gifting and prepaying funerals,through to keeping and renting the former home and establishing trusts or company structures.
“The book covers the aged care reforms that were implemented on 1 July this year and the significant changes these have brought about to the cost of both home care packages and aged care facilities,” Ms Lane told Australian Ageing Agenda.
“The book also has a resource section providing a directory of government and non-government services that people can access to assist them with accessing care and support services.”
Ms Lane is principal of Aged Care Gurus, a national network of financial advisers providing quality advice to older Australians. Having worked in financial services for 15 years and as a specialist in aged care for the past 10 years, she is well-known within the industry, particularly for providing advice on the structuring of assets and income for aged care residents.
Mr Whittaker is the author of 20 books including the international best seller Making Money Made Simple. He writes weekly columns in many major Australian newspapers, and also makes regular appearances on radio and television.
The second edition of Aged Care, Who Cares? was launched in Sydney last week in conjunction with Mark Moran Vaucluse, a retirement village and aged care development due to complete in 2016.