Aged Care Advice

Elderly hands on walking cane, aged care

At Hyland Financial Planning, we have extensive experience in planning for residential aged care.

There are so many factors to consider when searching for the appropriate services to ensure that the transition to residential care is seamless, and comfortable as possible. ‘Your financial future, tailored your way’ is our philosophy, and everything we do, from initial communications through to establishing your needs, underpins this goal.

Being well-planned and ready to put your strategy into place for residential aged care, is not only sensible, but it also helps both you and your family throughout the entire process to adapt to a changing environment.

You may like to ask your adviser to facilitate a family meeting which will begin the discussion. So by engaging Hyland Financial Planning to facilitate this family meeting, you will be able to openly:

  • Discuss options and preferences
  • Explore each person’s concerns, and address them
  • Decide who needs to be involved in any aspect of the planning

Open discussions are the first step to an effective decision-making process and will be imperative in making choices that suit your individual needs. Your adviser can provide advice, and they can also offer an impartial and objective view, which has been developed through years of experience in working through these issues with other families. Many people choose to write a list of things that help them make this decision in a concise way.

With a personalised approach, Hyland Financial Planning helps clients connect with their purpose and choose an approach that is suited to their individual needs.

Listings: Search by postcode for the list of aged care facilities in your preferred location and check accommodation fees on www.myagedcare.gov.au

Placement Services: Search the internet for aged care placement services for advice and help to choose a service and negotiate a place

Application form: Use the generic application form to apply for a place. Available from www.myagedcare.gov.au Anytime your circumstances change it is important to consider the impact it has on your estate plans. This includes when you move into aged care.

Your adviser can identify the consequences of any financial restructures and highlight issues that affect your will and specific investments. Your solicitor can review and redraft the will to reflect your wishes and establish documents to grant the desired powers.

For more information or to find out more about how Hyland Financial Planning can support you during this transition, please contact us.

Cash Management

We’ll ensure your retirement is comfortable and worry-free.

BRING YOUR FINANCIAL FUTURE TO LIFE.

At Hyland Financial Planning, we want you to have a sound financial house that will free you from your everyday money worries. Before we can bring your financial goals to life – whatever they may look like – it’s important to build on solid foundations. 

Let’s get things right from the ground up

One of the foundations of having a sound financial house is to get your cash flow and spending under control.

We have access to leading software that allows both our clients and their adviser to continue to work together to build on the strategies and goals surrounding their personal cash flow. This software is accessible via your smart phone and your bank accounts feed directly into the software. 

What we do

First meeting, in person

  • Review current levels of debt, personal financial goals & systems and spending.
  • Develop a conscious spending plan (budget).
  • Discuss current and ideal bank account structure (including automation of accounts).
  • Discuss how to most appropriately categorise your spending: Fixed, Future and Guilt Free.
  • Discuss how to work towards paying down any consumer debt & building an emergency cash reserve.

Second meeting, in person – within the fortnight following the first meeting

  • Setup of software: bank accounts, property, consumer debt and goals.
  • We share and implement the processes and cash flow strategies.

Third meeting, phone/skype – one month after the second meeting

  • Make sure everything is running smoothly and has been setup correctly.
  • Answer any of your questions after the implementation. 

Ongoing relationship – phone/skype – every three months

  • Continue to make sure all is running smoothly.
  • We keep you accountable to your goals. 

“Having worked in financial services and human resources for quite a few years I feel, I very comfortable endorsing Justin’s financial planning, wealth management and most importantly his client service skills. Justin goes above and beyond to ensure you get a high quality service which is tailored to your individual needs and risk profile”

— Andrew B

Debt Management

Turn bad debt into good debt.

NOT ALL DEBT IS CREATED EQUAL

Debt can be a useful tool to build your wealth and achieve your goals. But if you borrow beyond your means without a clear reason or plan, or if your debt is not soundly structured, it could adversely affect many areas of your life, not just your finances. The good news is there are many cost-effective strategies available to remove debt and enhance wealth. The strategies we employ not only give a financial benefit for you, but provide emotional satisfaction and peace of mind.

We believe that not all debt is created equal. There is a clear difference between good debt and bad debt:

  • Good debt helps you generate income and increases your net worth. Examples include, education, small business ownership, real estate, and tailored investments.
  • Bad debt is used to purchase items that decline in value. Examples include cars, clothes and consumables, or using credit cards for purchases due to their significant interest rate.

Our core belief is that effective debt management is achieved by transforming bad debt into good debt, and using this to build your future.

What we achieve

  • Transform inefficient debt into efficient debt to improve your tax return and ensure you have the capacity to invest in your future.
  • Reduce mortgage debt through our proven payment plan that defines the frequency, amount, and source of repayments.
  • Reduce your interest and repayments and pay off your debt faster by consolidating your debt into a more cost effective structure. Don’t pay more than you need to.
  • Create a snowball effect with your debt reduction. We focus on removing the highest interest debt first, which creates cash flow, allowing you to pay off the next highest interest debt at a faster rate, and so on.
  • Use debt to build wealth. We employ a strategy to transform non-deductible debt into deductible debt, improving your overall tax position while investing in your future.

What we do

  1. We thoroughly analyse your current debt arrangement to determine the right strategy and structure to reduce debt effectively.
  2. While we strategically restructure your debt, we take into consideration your emotional wellbeing and align this with your financial outcome.
  3. We create a tailored debt management plan based on your situation and preferences in order to transform your bad debt into good debt.
  4. We implement a budget review, repayment strategy, and savings approach to keep your interest payments down and free up cash for wealth creation opportunities.
  5. We take care of the implementation for you. We request and complete paperwork, collect all documents, and make sure you’re always up to date on the progress.

Justin is an experienced, hard working financial adviser. He is ethical and knowledgeable, and is passionate to achieve the best results for his clients. I recommend Justin if you are in the market for financial advice.

— Phillip B

Estate Planning

Make sure your assets go to the right people at the right time.

TAKE CARE OF THOSE YOU LOVE.

If you want your assets and your loved ones protected when you no longer can do it, you will need an estate plan. Without one, your family could face huge tax burdens and the courts could decide how your assets are divided, or even who gets your children. Don’t let this happen and plan for the worst. We are here to help make the uncomfortable conversation stress-free and as comfortable as possible.

What we achieve

  • Make sure your assets go to the people you choose. We’ll make sure your beneficiaries are clearly designated and legally binding so that your decision is final.
  • Be there for your children even when you’re gone. We’ll help you set up education plans, wedding funds, and house deposits so that you know your children will be looked after.
  • Reduce and potentially eliminate tax by structuring and strategically transferring assets to your beneficiaries. 
  • Avoid family conflict. We’ll make sure your estate plan clearly states who controls your assets if you become mentally incapacitated or die.
  • Bring it all together. We will ensure your non-estate assets such as superannuation and retirement funds are included in your estate plan, so your entire financial world is taken care of.

What we do

  1. We thoroughly examine your family tree in preparation for intergenerational strategic planning
  2. We obtain and organise all documentation relating to your family’s current estate plan to determine if it aligns with your wishes.
  3. We work with you to determine exactly who receives an inheritance from your estate, and how to structure the nominations to minimise their tax liability.
  4. We explore all your estate planning options across all your assets categories and determine the appropriate nomination for each, in order to provide a seamless transition of wealth in a tough time.
  5. We will walk you through each step of the process to make sure your wishes are aligned with your strategy, and you understand how your family will be taken care of.

“Justin is an outstanding adviser. His depth of knowledge and commitment to clients is exceptional . Where I have been able to work together with Justin I have seen first hand the care he takes with his clients and his desire to achieve great outcomes for them”

— William H

Build Your Wealth

WE MAKE INVESTING EASY.

You’ve worked hard to make your money. Now let your money work for you. Whether you have a goal in mind — like buying a property or going on your dream holiday — or just want to build up a nest egg, we make investing your money easy.

Investing your money alone can be a daunting challenge. There seems to be an endless number of options to choose from, from buying property to investing in stocks. So how do you make sure you choose the right balance of risk and return? We start building your wealth by getting to know you — your situation, your goals, your future.

Together, we work to determine the level of risk that’s right for you, and design a comprehensive investment strategy that allows you to achieve your goals and live the life you want. We’ll implement your strategy, and closely monitor its performance to make sure everything is on the right track.

What we achieve

  • Pay less tax by splitting your assets with your partner. If your partner is on a lower tax bracket you may be able to minimize your household tax bill and make your money work harder
  • Earn interest on your interest. By re-investing your earnings instead of spending it, we are able to convert it into new investments, allowing you to earn even more interest. 
  • Protect your investments by taking advantage of every appropriate opportunity. We don’t believe in limiting yourself to a bank account. We want to build something that will last through a diversified investment portfolio.
  • Borrow money from your home to build wealth and pay off your house sooner. We will develop an investment structure that accelerates your wealth creation while reducing risk.
  • Minimise Capital Gains Tax by accessing your investments over time. We employ a timed approach to accessing your funds to ensure you pay as little tax on your investment earnings as possible.

What we do

  1. We conduct a comprehensive risk analysis to determine the right investment options for your goals, situation, and tolerance to risk.
  2. We thoroughly examine your existing investment structure as well as your alternative options to ensure alignment with your goals.
  3. We implement a budget review, contribution strategy, and savings approach to keep you on track.
  4. We create a tailored investment portfolio based on your situation and preferences in order to reduce your fees and achieve your goals.
  5. We take care of the implementation for you. We request and complete paperwork, collect all documents, and make sure you’re always up to date on the progress.

Justin is one of the most enthusiastic and conscientious people I know. He takes everything he does very seriously and does it with heart! I’d happily trust him to look after my own or a friend’s financial existence purely because, over and above his inevitable technical ability, I know he would be doing everything he can to ensure my best outcome and would do it openly and honestly.

— Emma C.

Protect Your Wealth

For those you care about.

PROTECTION FOR YOU AND YOUR FAMILY.

Insurance isn’t just for you — it’s for the people you care about.

That’s why it’s essential to make sure you and your family are protected if you lose the ability to work due to illness, disability, or an accident. 

We work with you to determine exactly how much coverage you need, and then develop the most effective insurance strategy for your current circumstances, with an eye towards balancing cost and peace of mind.

What we achieve

  • Maintain your lifestyle and that of your family. We’ll do this by protecting greatest asset – your income – in case of illness, disability, or an accident.
  • Protect your income and largest assets through Super. Did you know you can pay for insurance through Super? By doing this, you can reduce the strain on your budget while enjoying tax-deductible premiums.
  • Reduce the long term cost of your insurance by selecting the right payment option for you. We’ll conduct a full exploration of your financial world to determine the appropriate structure.
  • Eliminate your debt on death, disability or illness. You might not know that your debt doesn’t disappear if you die. We’ll make sure your insurance is able to eliminate your outstanding debt and provide peace of mind.
  • Protect your retirement and inheritance plans if a family member becomes ill or disabled. We’ll do this by ensuring you and your family are adequately protected by insurance.

What we do

  1. We thoroughly examine your financial world to determine the right scope and structure of your insurance plan.
  2. We go through your existing insurance policies and explore all your options to ensure you have the most appropriate cover for the strategy we create for you.
  3. We confirm your details and situation with insurance providers prior to implementation to make sure you application has a high chance of being accepted.
  4. We design an insurance plan that’s cost-effective for your cashflow requirements and appropriate for the amount of risk you’re willing to take.
  5. We make sure you understand exactly what your insurance plan covers, how it works, and how it is tailored to your personal situation.

“Justin helped me immensely by putting together a comprehensive proposal for various insurance and a self-managed super fund. Not only was he knowledgeable, patient, and timely, he made the entire process and implementation a breeze. His continuing attention is also part of the service whereby he regularly checks in to make sure I’m taking advantage of opportunities as they arise. Justin is one of the best and you won’t be disappointed to have him working on your finances.”

— Andrew A

Retirement Planning

We’ll ensure your retirement is comfortable and worry-free.

EVERYONE’S FINANCIAL PLAN IS DIFFERENT.

We believe hope is not a plan and leaves too much to chance. We believe the sooner you receive strategic retirement planning advice—a plan—the more likely you are to achieve what you have in mind for a secure financial future.  Whether you’ve had a long, storied career that is coming to an end or you’re starting to think about the final phase of your working life, it’s important to plan for retirement in order to live the lifestyle you want — and deserve. Compulsory superannuation payments alone aren’t enough for most people to live a comfortable retirement lifestyle. Many of us require an extra savings boost, and the sooner we act, the more we’ll have in the future.

The most common questions we receive from clients are:

  1. When can we afford to retire?
  2. How much money do we need to retire?
  3. How long will it last?
  4. Can we help our children and grandchildren?

We seek to address and answer these questions and concerns with well thought out and achievable strategic advice. The most common outcomes and comments from after our advice are

  1. We now know our numbers
  2. We have certainty over our retirement
  3. We know what we can spend in retirement guilt free
  4. WE SHOULD HAVE SEEN YOU 7 YEARS AGO!

What we achieve

  • Receive a regular income in retirement by transforming your superannuation into an income stream. By continuing to invest your superannuation funds in retirement, you can make sure your money continues to work for you.
  • Reduce your hours but maintain the same income without impacting your retirement plan. We’ll supplement your reduced hours through a tax-effective transition to retirement strategy.
  • Boost your super without impacting your cash flow by implementing a tax-effective strategy, taking advantage of contributions to super and withdrawals from your pension.
  • Save tax for your beneficiaries by reinvesting your super. Our strategies are designed so you won’t leave behind a tax burden for your family.
  • Don’t be taxed any more than you need to by investing your available assets into your superannuation. You’ll be taxed at 15% instead of your usual income tax rate.

What we do

  • Receive a regular income in retirement by transforming your superannuation into an income stream. By continuing to invest your superannuation funds in retirement, you can make sure your money continues to work for you.
  • Reduce your hours but maintain the same income without impacting your retirement plan. We’ll supplement your reduced hours through a tax-effective transition to retirement strategy.
  • Boost your super without impacting your cash flow by implementing a tax-effective strategy, taking advantage of contributions to super and withdrawals from your pension.
  • Save tax for your beneficiaries by reinvesting your super. Our strategies are designed so you won’t leave behind a tax burden for your family.
  • Don’t be taxed any more than you need to by investing your available assets into your superannuation. You’ll be taxed at 15% instead of your usual income tax rate.

“After not having to worry about my Superannuation for 25 years, I was faced with a change of roles and many changes within Superannuation, Justin was recommended to me by a business associate and I couldn’t be happier. He took the time to understand my plans and goals, changes in my lifestyle and levels of risk. I can happily say that he has exceeded my expectations and the goals we originally set. Highly recommended.”

— Jonathan H

Contact us or arrange a meeting

Locations

Hyland Financial Planning provide expert advice across the Lower North Shore area, Hornsby and Sydney CBD to talk to an expert in retirement planning, financial advice or how to get the most from your super book a meeting at one of our convenient offices.

Hornsby
Suite 403
20 George St
Hornsby NSW 2077