Are you helping to cover the costs of a relative’s assisted living?
We understand the financial difficulty it poses. Naturally, you love your family and are willing to do whatever it takes to ensure their well-being, even though it puts a strain on your finances.
At New Hope Properties, we’ve assisted numerous individuals navigating financial difficulties linked to assisted living expenses.
We’d like to offer a few brief suggestions!
Consider securing insurance if you foresee covering future assisted living expenses. Additionally, explore the option of converting the person’s life insurance plan to fund long-term care instead.
Examine Pension Options — Is the individual in assisted living a veteran or the spouse of a veteran? The U.S. Department of Veterans Affairs provides pension plans for veterans with limited money or tight finances.
Consider Renting the Residence — An alternative is to lease the property where the individual resided before transitioning to assisted living. Although this may involve significant effort, it can also contribute to covering the costs of assisted living.
I hope that proves helpful!
If you or someone you’re familiar with is looking to sell a house fast for cash, contact us at (970) 610-1001. We can complete the transaction within two weeks, providing a cash payment! You have the flexibility to choose the closing date!