Providing for nursing home

This is the first time been down this road
BIL took care of everything and took quite some time to research facilities

its quite an eye opener

 

They need to improve

Caveat here, but government will generally have more qualified staff and higher ratio as opposed to private

maybe standards have improved since I was working ??? I hope so

 

Sounds like Club Med

 

No nursing home for our parents we look after them in our home till they departed

 

I hope this works out for you. Physical decline is manageable, but dementia is a whole different scenario.

Advanced dementia meant my mother needed constant 24 hour care and supervision. We researched carefully and found a wonderful place for her where the care was outstanding.

 

they were fortunate. It really depends on many factors, mental health, mobility etc

My mother tried this with my grandmother, 5 siblings rotating this. Unfortunately with dementia not possible in her case

 

none of that just weak physically, required support for cooking, toilet, shower etc...

 

• Nursing Home contracts are not straight forward, you won't get your bond back until probate has been granted (regardless of what they say at the home). You'll need to do some negotiation to ensure that the bond is not in their name and subsequently part of the estate.
• The bond doesn't attract interest for the patient, a further amount is deducted annually, you won't lose the lot (there's a statutory amount to be deducted for 5 years).

 

You can lose the lot if it erodes into your capital, as I said its dependent on bond fees and what you contribute/value of your property

My MIL bond will be gone in 10 years if she survives till then??

what does this mean we chose accommodation/facility that she could not afford unless she went this way. We think this is the best option for her for a better quality of life

what she could afford was goddamn awful

 

Not our experience two years ago in Queensland.

Father-in-law died, my husband only child, sole beneficiary and sole executor. Hubby simply showed them the Will and Remaining bond money credited to him within two weeks.

 

How (other than inflation) will it erode the capital? The bond remains in place unless you're able to draw down on it to pay the accommodation fees.

 

Not so in MIL case, Because her capital is being used so she can access this facility. She does not have anywhere close to $750,000 bond money

i am no expert in this area and BIL sorted it out, but this is MIL scenario, probably not the norm??

i knew I should have kept quiet about this

 

You are right @MTR. The current interest rate on a nursing home bond is circa 6% in NSW. She will be paying that on the part of the bond she has not paid. This will be decreasing the capital that your MIL did pay into the bond. And before anyone suggests the family pay this for her, there are very good financial reasons why this is a very bad idea. Gifting rules are a problem. Best wishes to all involved @MTR nursing homes and the government rules that go with them are really challenging

 

Thank you
Its challenging situation because my MIL would want nothing more than to live with her daughter but this is not possible. Sad

 

So what happens to those who don't own a house?
Do they get sent out to the old empty cattle farm barns?
Is there a difference if you don't remember?

 

I work in the field. Most providers in WA for example, are not for profit. However, there is certainly profit in aged care, hence providers dismay at mandated qualified staff to patient ratios likely once recommendations are adopted following the Royal Commission.
Economies of scale and Commonwealth subsidies plus hiring unskilled and low numbers of staff per resident ratio mean they can be run profitably hence the numbers of private providers in the field. They can and will chase business. Be mindful if you hire a consultant that they are completely independent and not contracted to a provider.
Providers are required to provide xyz “concessional” beds, some, particularly in substandard or not fit for purpose facilities only accept concessional residents leading to a uneven or acute resident mix in shared rooms with poor facilities and unskilled staff.
Conversely, some very flash places have opened in Perth, the ritzy former hotel in West Perth, for example, with some bonds up to a million. Due to the pressure to fill beds you may find your loved one in a facility with significantly demented residents who would have their needs better catered for in a dementia specific facility, not a flash one.
ALWAYS go yourself at any hour and have a look at a facility you’re considering, flash doesn’t mean good and crappy looking doesn’t mean bad care. Likewise, unskilled care isn’t always bad care, you can’t retrofit or teach compassion and sensitivity but you must have skilled staff on deck 24/7 to provide support and clinical expertise.