Your home may not be the only answer to paying for nursing home care.
If you don’t plan or have a bad plan, it may be necessary to sell your home if your spouse requires nursing home care but that may not be the only option, according to the Boston Globe article “Seniors have more options than selling their home.”
Before selling their homes to pay for nursing home care, seniors are advised to seek out the services of an elder law attorney. The attorney can assess the situation to determine what other options, if any, are available.
The even better option is to plan ahead.
Get a professionally crafted estate plan that includes the possibility of long-term care in a nursing home. Doing so will make it far less likely that having a spouse go into a nursing home will necessitate selling the family home.
An estate planning attorney can help guide you through the process.
Reference: Boston Globe (Aug. 20, 2016) “Seniors have more options than selling their home.”