Financial Solutions for Residents and Families
Gift Tax Exemption
Family members can pitch in toward the cost of assisted living and take advantage of the IRS gift tax exemption. In 2015, individuals can provide gifts of up to $14,000 per person per year without paying a federal gift tax ($28,000 as a joint gift). It is advised that you seek consultation with a tax professional before making any financial decisions.
ElderLife Financial Services
Simple, convenient financing options are available from a recognized leader in financial services. Flexible line of credit options are ideal for those who need rent or care support while they wait for other benefits to begin or are in the process of selling a home. Find out more at www.elderlifefinancial.com or simply call 1-888-228-4500 for details.
Life Care Funding
Did you know a life insurance policy can be converted to pay for care. Life Care Funding converts your existing life insurance policy into an immediate Long Term Care Benefit Plan to pay for the cost of care. Qualifying can be quick and uncomplicated, and there are no fees or obligations to apply. To find out more about Life Care Funding, visit www.lifecarefunding.com/blog/how-to-pay-for-senior-care or call (888)670-7773.
If you are a United States veteran or the surviving spouse of a veteran, you may be eligible to receive monthly pension or aid & attendance benefits to help pay for personal care such as assisted living.
Please ask our Business Services Director if you need assistance finding more information or making application for any of these or other benefits.