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Subject: Re: Managing Money to Cover Nursing Home Costs
Author: oiveyisme Date: 6/3/01 8:27 PM Number: 30045
While I have managed rental properties and think it can be an ok investment, perhaps you could consider the value of "renting out your mney." That is, With all the issues and expenses of renting out a spare dwelling, could there be simplification issues with selling the property and putting the money into something that generates income in a cleaner way?

There is something to consider though. Is there any chance mom could return to the property? If there is.. and you've sold it.. she might be a little ticked.

OiVey

Thank you for the reply. It does seem that renting can get complicated quickly. There is no chance of her returning home. I will be talking to a CPA/tax attorney to get advice on the tax and other implications of renting and selling. I am also looking at appropriate investments for the sale proceeds given the circumstances.
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