Are you helping to pay for a family member’s assisted living costs?
We know how financially challenging that can be — of course, you love your family and you’ll do whatever it takes to see that they’re taken care of… but it still strains the bank account.
At BRZY Properties, we’ve worked with many people in tough financial situations.
So we thought we’d take a minute to offer some tips!
Get Insurance — If you’re anticipating that you’ll be paying for assisted living in the future, then it’s a good idea to get insurance ahead of time. Also, if the person in assisted living has life insurance, you might be able to convert that plan to pay for long-term care instead.
Check Pensions — Is the person who’s in assisted living a veteran or the spouse of a veteran? The U.S. Department of Veterans Affairs offers pension plans to veterans with low income or limited assets.
Rent the Home — One option is to rent out the home where the person was living before they moved into assisted living. While this can be quite a bit of work, it can also help pay the assisted living bills.
Hope that helps!
And if you or someone you know ever needs to sell a home fast for cash, give us a call or text at 423.840.9040. We can close in as little as a few weeks and pay cash for your home! You pick the closing date!