Aged Care Placement - Case Studies

Negotiating a Bond for a Charitable Gentleman
August 2009

Mr. R. is aged 83 years young, a self funded retiree with a wonderful approach to life. Mr. R. had recently noticed that his physical care needs were increasing, so he placed the management of his financial affairs in the hands of a State Public Trust office.

There were no family members to guide or assist Mr. R.

During his life, Mr. R. has gathered assets of more than $1.7Million dollars but his philosophy was that he would now rather gift these assets away to a deserving cause, just prior to entering low care.

Mr. R. had carefully selected quality residential low care in a new facility and he had made the first steps for admission. On the first approach made by the Public Trust Office to the aged care home, the aged care provider had demanded a bond between $600,000 to $750,000 ! The aged care home had based their request on Mr. R. 's assets and their "perceived" need for that level of bond.

The Public Trust Office approached us to assist with the negotiation of the bond with the aged care home.

We firstly spoke with Mr.R. at length to make sure that we fully understood his personal wishes and preferences (and Mr. R. being being who he is, this was a very pleasant communication).

Because Mr. R. was a self funded retiree, he was not needing to protect a pension, and because his deeply held wish was to gift the majority of his assets to church based charities, we knew that he would not be incurring any future income tested fees after this allowable gifting had occured.

After representing Mr. R's wishes with the aged care home, we were able to successfully negotiate a bond of $400,000.

This was a great result for our family client, Mr. R.

The aged care home still received a fair and reasonable accommodation bond, and Mr. R. has deep personal satisfaction that his assets have contributed in a significant way to the benefit of others less fortunate in our community.

We are proud to have been involved with Mr.R. and help him realise his deeply held wishes.

Aged Care Connect delivers a fully personalised service, tailored to the needs and preferences of each family searching for an appropriate aged care bed.

We always take the extra effort and additional steps to understand your complete requirements. This means that we consistently deliver the highest quality outcome for our select family clients.

To speak with a dedicated team who listen and find the right aged care home the first time ...

Aged Care Placement Information Directory

Negotiating a Bond for a Charitable Gentleman August 2009

Negotiating a Bond for a Charitable Gentleman
August 2009