Providing for nursing home

Discussion in 'Financial Planning' started by MTR, 1st Mar, 2020.

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  1. geoffw

    geoffw Moderator Staff Member

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    There's means tested aid available.

    This is a guide to costs:
    Understanding the costs involved with aged care homes
     
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  2. Gringo

    Gringo Member

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    I have just skipped to the last page after reading the initial post, sorry if I’ve missed something. I have helped many clients place their parents into a facility.

    How did everything go with your MIL? How have you funded the deposit? RAD/DAP/DAC?
     
  3. HUGH72

    HUGH72 Well-Known Member

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    Don't worry, by that time you probably won't know the difference
     
  4. Islay

    Islay Well-Known Member

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    Bit tough @HUGH72. People enter care facilities for many different reasons. My mum has been in care for over a year now and the thing she asks most for is a real coffee. I think like her I will know the difference
     
  5. HUGH72

    HUGH72 Well-Known Member

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    True, I didn’t mean to offend. I just find them such sad places, I would much rather die at home in my sleep one day to be honest.
     
  6. Islay

    Islay Well-Known Member

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    I understand. Sometimes the choice is not ours. My mum still can not understand how she has finished up in care. All good :)
     
  7. Rugrat

    Rugrat Well-Known Member

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    It is such a hard situation all round. Hubby and I have had discussions about what will happen with his mother as she ages. Currently we have her as a tenant in one of our rentals, which is near a lot of family who all see her daily and help her out. She is on a government pension though, and none of the rest of the family are really in a position financially to assist anymore then they do currently.

    It will largely depend on how much care she ends up needing. If it is minimal, then we will likely end up moving her in with us as she gets older and needs more assistance. Hopefully a couple of the kids have moved out by then. But if she needs lots of ongoing medical care, then we will have to look at other options, whatever those may be at the time.

    Similar situation with my own parents, although they are currently in much better health and completely independent.

    I guess the hope at this point in time is that they can remain functionally ablebodied and ableminded for the rest of their lives and have no need for additional care that cannot be provided in their own homes.

    Hope for the best, and prepare for the worst.
     
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