FIVE ADJUSTMENTS IF YOUR SPOUSE MOVES INTO CARE

BY SOPHIE DOYLE, RETIREMENT AND AGED CARE SPECIALIST

Life is filled with changes. But with preparation and good advice, you may be able to manage the transitions more effectively to minimise stress.

Watching your spouse’s health decline can be difficult and stressful. And if this decline results in a move to aged care, you will both be faced with a lot of changes. These changes might include getting used to a new routine and sleeping arrangements, as well as financial, legal and emotional adjustments.

In this article, I highlight five aspects that couples may need to consider and tips to help you adjust.

1. YOUR CENTRELINK AGE PENSION

If your spouse (or both of you) move into care, you might qualify for a “pay rise” through a higher age pension. This increase can help to cover higher expenses and care costs.

When a move into care is involved, illness–separated couple rules apply. Your pension continues to be assessed on combined financial means but is paid at the higher single rates of pension. A couple’s age pension could increase by up to $14,000 per year (combined).

Update your Centrelink (or Veterans’ Affairs) records as soon as possible after the move and let them know that you are now an illness–separated couple. If you previously just missed out on an age pension it might be worth reapplying.

2. YOUR EMOTIONS AND MENTAL HEALTH

The stress associated with the transition and financial adjustments can be significant, you might experience feelings of exhaustion, guilt, and/or grief. These are normal reactions, and it’s perfectly okay to take some time to navigate through these emotions. Surround yourself with the support of caring friends and family or consider seeking professional help if needed.

Remember, prioritising your own mental health is not only okay but essential. By taking care of yourself, you equip yourself to provide the best possible support to your spouse in their new living arrangement.

3. YOUR LIFESTYLE CHANGES

You will both experience changes in your daily routines.

In care, your spouse may need to adjust to a new routine including a different bed, changes in mealtimes and different cooking styles. The care staff will be able to help with tips for settling in. You may find that your house feels empty and lonely. Your daily routine might see care activities being replaced with visiting your spouse and regaining some of your own social life.

If your spouse was receiving a home care package before moving into residential care, that package (and any support services such as home cleaning that it was paying for) will stop. You might consider whether you now qualify for your own home care package or other home support to help maintain your independence. If needed, contact MyAgedCare on 1800 200 422 or www.myagedcare.gov.au to arrange an assessment.

4. YOUR HOME

If your home does feel too big or lonely, or if visiting your spouse becomes challenging, you may contemplate a change. This might be a move to a smaller home, or a differently located home. Or perhaps you might want to move to a retirement village to have people around you.

Changing homes will create financial implications for your age pension and care fees. It might also release equity. Seeking financial advice is crucial when contemplating changes to your home.

I’m here to provide guidance, assisting you to understand the financial implications and suggest appropriate strategies to navigate these considerations.

5. SORTING YOUR LEGALS

If your spouse was nominated as your enduring power of attorney/guardian or executor of your will it might be time to speak to your lawyer about updating the documents and nominating someone else.

If you want to talk through your options or find out more information for your situation, call our office on 02 4325 0884 to arrange an appointment.

Morgans Financial Limited – 1/6 Burns Cres, Gosford morgans.com.au/gosford

Sophie Doyle (AR#000470612) is a Retirement and Aged Care Specialist at Morgans Financial Limited (Morgans AFSL 235410 / ABN49 010 669 726); with a passion for assisting people make informed financial decisions, as they navigate their way through retirement and aged care.

Disclaimer: While every care has been taken, Morgans Financial Limited makes no representations as to the accuracy or completeness of the contents. The 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 1 November 2023.