When someone has a serious illness there are many financial matters that will need to be discussed. A family discussion early on can relieve fears and worries. Quite often people find that sorting out financial issues, including tax matters, reduces worry.

Many people who are diagnosed with a terminal illness choose to continue working. The Living Caring Working website from Palliative Care Australia has a page on The Workplace. You may also be able to access financial support from your insurance or income protection scheme. For those who are not in the workforce, there are a number of financial supports available. Go to the CareSearch page on Finances and Costs for further information.

Caregiver financial help
Information on the range of support available for those who are caring can be found in a Centrelink booklet Caring for Someone: A guide to your options and our services. It is available through the Centrelink website.

Carer Payment is provided to a person engaged in full time care and unable to seek employment. Carer Allowance is provided when a person is providing full time care to a person with a severe medical condition.

Eligibility for both payments needs an assessment by a doctor or a health professional. Social workers are skilled in providing assistance with this matter.

Financial advice
Banks have financial advisors. Many unions also have skilled advisers to help with superannuation or sick leave entitlements. Personal accountants can be an important source of advice. Many Centrelink offices have financial information services. They offer a confidential interview. It may be important to ensure that you and your partner have dual access to bank accounts to ensure both your financial security. You should also consider an Enduring Power of Attorney This legal option allows you to appoint someone to make financial decisions on your behalf. They can operate your bank accounts, pay your bills and sell or buy property or shares on your behalf. The CareSearch Advance Care Planning page has more information on state resources for Public Advocate and Public Guardian.

This page was created on 26 March 2007 and is due for review in March 2009