Author Topic: $4500/mo for 2 in 300 sq ft.  (Read 2934 times)

Michread

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$4500/mo for 2 in 300 sq ft.
« on: April 23, 2014, 07:56:44 AM »
My in-laws are not well (dementia & other issues).  They are considering an assisted living facility at $4500/mo.  Their income is $3100/mo and they have NO savings.  The only asset they have which is not legally owned by them is their home which is worth about $80-90k.  It's a MESS! 

Get your house in order so your dc don't have to deal with YOUR mess!  (I tried for yrs to get in-laws/dh to see the light to no avail.)


soccerluvof4

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Re: $4500/mo for 2 in 300 sq ft.
« Reply #1 on: April 23, 2014, 08:49:02 AM »
I am so sorry to hear about your in-laws! and your right! , something everyone needs to try and prepare for! Sorry about the bad news but thanks for sharing and reminding!

arebelspy

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Re: $4500/mo for 2 in 300 sq ft.
« Reply #2 on: April 23, 2014, 08:54:24 AM »
They are considering an assisted living facility at $4500/mo.  Their income is $3100/mo and they have NO savings.  The only asset they have which is not legally owned by them is their home which is worth about $80-90k.

Why are they considering something they can't afford?  Why aren't they looking into other options that fit within the 3100/mo.?

Maybe you can help them find a suitable place.

Hope everything works out!  :)
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Michread

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Re: $4500/mo for 2 in 300 sq ft.
« Reply #3 on: April 23, 2014, 09:06:35 AM »
Thank you for your kind words. 

It's out of my control.  They live 350 miles away.  My dh, the eldest of 6, is a passive person.  He's leaving everything that he can in the hands of his siblings who all live within 20 miles of their parents.  He's there now looking at asst. living places (without me). 


YK-Phil

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Re: $4500/mo for 2 in 300 sq ft.
« Reply #4 on: April 23, 2014, 09:14:20 AM »
I am sorry to hear this. If they own their house, staying in their home and having a full time, live-in trained nanny an option, with possible relief help on weekend? The going rate for a certified nanny where I live, where wages are usually much higher than elsewhere in the country, is about $2,200/month. I had one for several years to take care of my kids, and there was no shortage of professional nannies with excellent credentials (mine was indeed a pediatric nurse back in the Philippines).

cotterpin

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Re: $4500/mo for 2 in 300 sq ft.
« Reply #5 on: April 23, 2014, 09:17:35 AM »
If either of them were veterans, they maybe eligible for Aid and Attendance benefits. Most care facilities will help with the paperwork.

BFGirl

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Re: $4500/mo for 2 in 300 sq ft.
« Reply #6 on: April 23, 2014, 11:14:24 AM »
You should probably have them check with someone who does Medicaid planning.  There are ways to get the government to pay the difference between their income and the cost of living in assisted living.  Research CBA (Community Based Alternative).  Also research "Miller Trust"/"Qualified Income Trust".  You will probably need a lawyer to help you with this.  I am in no way giving you legal advice or financial advice here.  (I have to say this because I am a lawyer)  Just some things you may want to look at and see if it could help in this situation.  Just understand that there may be a lot of hoops to jump through to accomplish this and you will need to have details on all their income and assets.