Jodi Rose-Nealy

Supporting a person living with dementia

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Living with dementia can be unsettling and frustrating, but independence and quality of life can still be achieved with the right support and a few changes.

With almost half a million people living with dementia in Australia, and another 1.6 million people involved in their care, it is likely that we are all impacted in some way.

The end of September was Dementia Action week, putting a spotlight on how to support a person living with dementia as well as support for the carers. Understanding the experience of dementia, and making a few changes can have a beneficial impact on the person’s quality of life and help them to live more independently.

When we think of dementia, we think of a person’s loss of memory and the confusion this may cause with identifying loved ones or timeframes. But people living with dementia may also have different sensory perceptions, which makes them see things differently.

Dementia Australia has a range of useful tools and tips for creating a dementia-friendly environment so that the home remains familiar, but is more accessible and safer. Some of the top tips include:

  • Consider colour contrasts between doors and walls and between doors and architraves
  • Perhaps have a different colour door for the toilet
  • Put up signs (in Arial or Helvetica font) or photos to indicate the function of a room
  • Use larger size light and power switches
  • Set up a whiteboard or calendar to post notes and reminders.

Sometimes, the home environment is not safe enough and a move into residential care may be needed. When selecting the right provider, ask lots of questions to determine how the provider can meet the needs of a person with dementia.

If you are impacted by dementia or you are worried about a family member or friend, take a look at the range of information and tools at Dementia Australia’s website www.dementia.org.au. And call us on 03 5227 7777 to make an appointment to talk about the support available with Home Care Packages or residential care, what it will cost and how to manage your cashflow to pay for the care you need.

IMPORTANT INFORMATION: This information is of a general nature only and has been prepared without consideration of your individual objectives, financial situation or needs. Before making any decisions, you should consider the appropriateness for your personal investment objectives, financial situation or individual needs. We recommend you see a financial adviser, registered tax agent or legal adviser before making any decisions based on this information. Current at 20 September 2021.

Moving into aged care – do I have to sell my home?

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If moving into residential aged care, do you really have to sell your home? What are your choices? Myths and misunderstanding about the rules can add to anxiety and confusion.

Moving into residential aged care is stressful and can be compounded by anxiety around selling the family home. Some people find it hard to part with their home or may not be ready to sell. This can raise concerns about how to afford the fees.

Knowing that you have choices, and accessing advice to understand these choices may help to reduce stress and create a better outcome.

Do you have to sell?

When faced with paying several hundred thousand dollars for a room in aged care, panic can set in. However, selling your former home is not your only option. You may choose to sell, or you may opt to retain the home.

Moving into residential care is effectively shifting into a new home. Each time you move, you can choose to buy or rent. Renting allows you to live in a home you can’t afford to buy, or don’t wish to buy.

With residential care you have the same options. Your room price is usually quoted as a lump sum which can be converted into a daily fee using a specified rate of interest. Paying this daily fee (or “renting” the room) may allow you to keep your former home if that is your preference.

Example:

Catherine agrees to pay $600,000 for her room in residential care. At the current interest rate of 4.04% per annum, this converts to $66.41 per day (plus other ongoing fees). This gives Catherine the choice to “buy” the right to live in the room for $600,000 or “rent” the room for $66.41 per day. She could also choose part buy and part rent.

When to make a choice?

The decision whether to sell or keep the former home has many personal aspects, but accessing advice can help to reduce some stress.

Once you have been offered a room, you will be asked to sign a Resident Agreement. This is a contract outlining your rights and responsibilities and the obligations of the care provider. It includes the fees you can be asked to pay.

This agreement should specify the room price and show what this converts to as a daily fee. But you don’t have to make a choice then. You have 28 days after moving into care to let the provider know whether you want to pay the full price as a lump sum (refundable accommodation deposit – RAD) or daily rent (daily accommodation payment – DAP) or a combination of the two.

The 28 days gives you time to seek good advice to make an informed choice.

As Accredited Aged Care ProfessionalsTM we have helped many clients to make this choice. We help to find a choice that is affordable, as well as works best for the family and protects the value of the estate.

Call us today on 03 5227 7777 to discuss how we can help make your aged care experience less stressful.

IMPORTANT INFORMATION:

This document has been prepared for the general information of investors and does not take into account the investment objectives, financial situation and particular needs of any particular person.

While reasonable care has been exercised and the statements contained herein are based on information believed to be accurate and reliable, neither Synchron nor its directors, employees, agents or Authorised Representatives  shall be liable (unless otherwise required by law) for any loss or damage suffered or caused to any person or corporation resulting from or contributed to by any error or omission from such statements including any loss or damage caused by any fault or negligence on the part of Synchron or otherwise”.

Before making any decisions, you should consider the appropriateness for your personal investment objectives, financial situation or individual needs. We recommend you see a financial adviser, registered tax agent or legal adviser before making any decisions based on this information. Current at 1 July 2021.