Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
Many thanks for all the input & questions of concern.

To answer some questions. Dad is 90 & Mom is 88. Dad took out a Long Term Care insurance policy in 1993 with a 90-day deductible period(with premiums waived when once used), of which Medicare helped pay 100% for 20 days, then 80% up thru day 70. That's why the nursing home for Mom...his long term care does not cover in-home care at $25/hour.

Right now, in my parents home state/county, assets need to reach $14,000 my parents qualify for community resources...and then there is a waiting list. My parents are not quite to $14,000 yet.

If Dad's house were to be sold, finding alternative living arrangements for him would be challenging, since he doesn't want to sell the house that he built. Dad is not nursing home material, but fits the assisted living setting. It just seems easier to get a reverse mortgage loan versus selling his home & then attempting to find a single facility to accommodate BOTH Mom & Dad's needs. Currently, Mom's nursing home facility does not have an Assisted Living wing...and I would hate to have them live in separate facilities, whereby visiting one another would be difficult.

Looking for a keep-it-simple solution...perhaps there isn't one. I live out-of-state...and my elderly parents do not want to relocate with me, but would prefer I move to be near them---this is not 'doable', since I cannot afford to relocate.

Apache
Print the post  

Announcements

TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.