Aged Care Provider · Registration pending · Categories 1–6 applied for · All Greater Melbourne
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Aligned with the new Aged Care Act 2024
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Aged Care · VIC
Aged Care Financial Advice Melbourne
- Aged Care Financial Advice · Melbourne
Aged Care Financial Advice in Melbourne Decisions You Make Once
The financial decisions made at the point of entering aged care can affect age pension eligibility, estate planning and family wealth for years. My Evervale connects Melbourne families with accredited, independent aged care financial advisers and explains the system in plain English.
The decisions that matter most
- RAD vs DAP vs combination — pay your accommodation as a refundable lump sum, daily payment, or a mix. The choice affects your age pension and how the family home is treated.
- Selling or keeping the family home — different scenarios trigger different Centrelink and aged care fee outcomes.
- Means-tested care fee planning — understanding the assets and income test, and the lifetime cap.
- Couple separation rules — when one partner enters care and the other stays at home, special protections apply.
- Estate impact — RAD refunds typically go to your estate; DAP doesn’t. The choice changes what beneficiaries receive.
The fees you can be charged in residential aged care
| Fee | Detail |
|---|---|
| Basic Daily Fee | Capped at 85% of the single age pension. Everyone pays. |
| Accommodation (RAD/DAP) | For your room. Maximum advertised RAD is set by the provider; over $550,000 requires Government approval. |
| Means-Tested Care Fee | Up to ~$33,000/year (with annual and lifetime caps). |
| Additional/Extra Services | Negotiable — premium room, wine, salon, personal training. |
Figures indicative as of 2024–25. Confirm with Services Australia at the time of decision.
Why an accredited adviser is worth it
Aged care fees interact with the age pension, the means test, the family home, gifting rules, super and estate planning. A general financial planner who doesn’t specialise in aged care will miss things. We refer to advisers who hold the SMSF Association’s Aged Care Specialist accreditation or equivalent.
What a typical aged care advice engagement looks like
- Initial fact-find (1 hour) — collecting your financial picture
- Modelling — comparing scenarios (RAD vs DAP, sell vs keep house)
- Strategy report — written recommendations, fees and pension impacts shown side by side
- Implementation — paperwork with the aged care home, Centrelink, banks
Typical adviser fee for a one-off aged care advice engagement: $3,500–$6,500. The savings over the rest of the resident’s life almost always exceed this.
How to use this page
Call My Evervale on Phone coming soon or contact us and we’ll connect you with an accredited adviser in your area of Melbourne. We don’t take referral fees — the recommendation is on quality, not commission.
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