How to Select a Senior Living Arrangement for Your Elderly Loved One
Moving an older loved one into a new living arrangement is an emotional process. However, feelings aside, there are many practical steps we must take before a decision is made. From how to pay for custodial services to the kinds of help they need now, and in the future, there are lots of details to sort out. This guide, presented by the Florida Estate Planning Lawyer Blog, can help you navigate this process.
Paying for long-term care
Even if your loved one is still perfectly capable of caring for themselves, there is never a wrong time to think about how money matters will play out. Medicare does not cover custodial services, only medically necessary and just for a short time. Although all states do have indigent Medicaid programs, your loved one likely does not qualify if they have any cash or liquid assets. For many seniors, the equity in their home is at least part of their nest egg. To find out how much you can expect, research local home prices (houses in Jacksonville sell for an average of $235,000). It’s also helpful to know the average cost of skilled nursing, assisted, and independent living. If you have obtained guardianship, you may need to look into selling their home if they are no longer in a position to care for it for themselves.