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Who manages my money?
Your aged care home will help you to maintain control over your finances.
All aged care homes also have a staff member who looks after the financial affairs of the home. This person can help you to make the financial arrangements you need.
Some homes offer services such as direct debit, which allow you to pay your bills automatically, either from your bank account or by deduction from a credit card. In some cases you can have your pension directed to the home so that your fees and other costs, such as chemist bills, can be deducted.
Do you need help managing your affairs?
If you need help with this, you can arrange for someone you trust to look after them for you. A power of attorney is a legal document that appoints someone else to act on your behalf in money or property matters.An enduring power of attorney allows a trusted person to look after your interests, including decisions on your health care, if at some stage you are not able to do so yourself. You can specify limits to these powers. Arranging an enduring power of attorney while you are in control of your affairs means that, if you do become unable to look after your affairs, your wishes will be met.
Your solicitor can advise you about a power of attorney, or you can get help from a community legal centre, a public trustee or private trustee company, or your local magistrate’s court.
Read more: Power of attorney
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