My dad, he is 91, had a stroke two weeks ago. Mentally he is fine, for someone who is 91, but now needs a walker to get around. I would highly recommend one with four wheels, a seat that flips up, which will reveal a basket. The seat and basket comes in handy when they are taking laundry to the laundry room, or taking leftovers from the dining room to their apartment. They can place a laundry basket on the seat and walk to the laundry room and food in the basket.
We were able to get a two bedroom apartment for him and my stepmother in a very nice senior living facility. This facility has cottages, independent living, assistant living, hospice and end of life care packages. This is great because it will be easy to move them when their health declines. the cost for the two of the them is $3,800 a month. I thought this was a very reasonable cost as it will handle 95% of their basic living expenses.
I would like to forward more of what I have learned over the past two weeks, so if anyone else maybe going thru this, or will eventually, I'm hoping this will help.
It is better to talk to them earlier than later about living in a senior living facility. We should have done this earlier, and they should have moved into one earlier. The house and truck was not being kept up like in the past. Getting a line of credit based on their investments to pay for the improvements needed to get their house ready to sell is a great option to look at.
Have a Power of Attorney already signed and filed, we did not and are scrambling to do so.
Have a Power of Trade filled out that will allow you to handle their investments if they mentally cannot. This was signed and filed two weeks prior to his stroke. It is a huge advantage to have the same broker as your parents do.
Know where they keep their money as I am dealing with 3 banks, 2 credit unions and a life insurance company. I have found thousands of dollars stashed in his desk.
A will had been updated a month ago. Annuities, if they are willed to an individual, is taxed.
Talk to them about uncluttering the house. It will take weeks to get all of the junk removed. They live in a gated community therefore a estate sale is not possible. I spent two full days cleaning out just one garage bay.
When it comes to paperwork, insurance, annuities, contracts, know where you can find the contracts.
We were able to get a two bedroom apartment for him and my stepmother in a very nice senior living facility. This facility has cottages, independent living, assistant living, hospice and end of life care packages. This is great because it will be easy to move them when their health declines. the cost for the two of the them is $3,800 a month. I thought this was a very reasonable cost as it will handle 95% of their basic living expenses.
I would like to forward more of what I have learned over the past two weeks, so if anyone else maybe going thru this, or will eventually, I'm hoping this will help.
It is better to talk to them earlier than later about living in a senior living facility. We should have done this earlier, and they should have moved into one earlier. The house and truck was not being kept up like in the past. Getting a line of credit based on their investments to pay for the improvements needed to get their house ready to sell is a great option to look at.
Have a Power of Attorney already signed and filed, we did not and are scrambling to do so.
Have a Power of Trade filled out that will allow you to handle their investments if they mentally cannot. This was signed and filed two weeks prior to his stroke. It is a huge advantage to have the same broker as your parents do.
Know where they keep their money as I am dealing with 3 banks, 2 credit unions and a life insurance company. I have found thousands of dollars stashed in his desk.
A will had been updated a month ago. Annuities, if they are willed to an individual, is taxed.
Talk to them about uncluttering the house. It will take weeks to get all of the junk removed. They live in a gated community therefore a estate sale is not possible. I spent two full days cleaning out just one garage bay.
When it comes to paperwork, insurance, annuities, contracts, know where you can find the contracts.
