One of the major issues facing everyone in retirement is their health and need for care as they grow older. Firstly, it is essential to have an up-to-date estate plan in place, including an enduring power of attorney and living will so your affairs and medical treatment can be managed in the event of incapacity.
It also important to start thinking ahead about the sort of care you may need as you grow older.
Fortunately, there are an increasing number of options available, from retirement ‘villages’ with some shared facilities and access to emergency health care, to full-time high-level care. Many people want to be self-supporting for as long as possible but even if you are in good health it is better to think about the options and plan ahead before you need them.
This is a complex subject with many implications for your lifestyle, health and care requirements, and of course your finances, so it requires careful research and planning. We also recommend you seek expert advice from your financial adviser. Perpetual Private can also offer comprehensive advice in relation to your financial situation and aged care.
Perpetual or Perpetual Group means Perpetual Limited, ABN 86 000 431 827, and its subsidiaries. Perpetual Private advice and services are provided by Perpetual Trustee Company Limited (PTCo), ABN 42 000 001 007, AFSL 236643. This information has been prepared by Perpetual and contains information contributed by third parties. It contains general information and is not intended to provide you with advice or take into account your objectives, financial situation or needs. You should consider whether the information is suitable for your circumstances and we recommend that you seek professional financial, tax and/or legal advice. The information is believed to be accurate at the time of compilation and is provided by Perpetual in good faith. However, the statements including assumptions and conclusions are not intended to be a comprehensive statement of relevant practice or law that is often complex and can change. To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information.