An Unintended Journey by Janet Yagoda Shagam
Author:Janet Yagoda Shagam
Language: eng
Format: epub
Publisher: Prometheus Books
Published: 2013-06-13T16:00:00+00:00
HOW TO PAY FOR CARE
As described in chapter 5, there are many options to consider when your parent does not have the money to pay for their residential care. Some involve converting assets such as real estate, stocks, and bonds into cash. However, check with your lawyer to make sure you have the legal authority to sell your parent's property. Others include:
Converting a life insurance policy into a long-term care policy
A reverse mortgage, where house equity becomes income
Renting your parent's home
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