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by wright-goes
446 days ago
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I'd also add creating a Trust is relatively easy and the elderly can continue living their life as they normally do. The Trust will then own the house, assets, etc., with distribution instructions included. In support of the point above, after having to arrange housing and care for elderly relatives in that stage of life, I found assisted living significantly more expensive vs. paying a care agency to have someone live at home in the United States. You get the added bonus of more accountability of a standard of care and ensuring loved ones are being taken care of. Talking to the assisted living facility, it sounded like most of their residents were using insurance. |
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It really depends on the level of care necessary.
>Talking to the assisted living facility, it sounded like most of their residents were using insurance.
A lot of them don't really take insurance, but they will encourage the residents to spend all their money and then get on Medicaid/Medicare to have the government pay for everything. There is private nursing home insurance but most people don't have it because it's ungodly expensive, especially when purchased when you're already fairly old.