I have an elderly relative soon to need assisted living or long term care due to senility. She (76) and her mate (86) own a house and 3 cars. The house is in her name, but her husband has a lifetime right. Banking accounts are separate, and she does not have a lot of savings. We were wondering about a reverse mortgage which would allow the husband to live in the house and would fund her assisted or long term care needs? Would the reverse mortgage allow the husband to live at the home if she died before him? Are any alternate options available that would be better. No living children, I'm a niece trying to ensure her care.
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