Aug 11, 2010

Check out CCRC before buying in!

Our elder care attorneys who help clients with their life planning and estate planning are often asked about continuing care retirement communities, otherwise known as CCRC's. Are they a good idea, the clients want to know. These communities typically provide all the levels of care one might need through the years - independent living, assisted living, and nursing home care. So there's no doubt that they can provide you and your family with the assurance that your needs will be met at every stage of life. Unfortunately, lately there's been much written about the financial solvency of such communities. Many are economically stable, but some are on shakier ground. So for REAL peace of mind, it's imperative to thoroughly check out the community you're considering buying into. Just as you assess a condominium's financial status before buying in, so you must check out the CCRC's financial health and a host of other issues, like staffing, available services, availability of transportation, etc. After all, this is the place in which you're thinking about living the rest of your life!.For tips on how to evaluate a CCRC, click here. (This is a downloadable pdf file).

1 comment:

Anonymous said...

It is scary to live in a retirement community because it is your last move and you should consider the health care and support that you will receive. This is really a good step before you make any decisions. My relatives are considering this before they go to long island retirement community to permanently live there.

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