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[quote=Anonymous][quote=Anonymous][quote=Anonymous]All this makes one try to figure out what the best model may be to ensure our own children aren't burdened with our care.

Just talking out loud, curious on thoughts on:

- Move into a 55+ community that provides soups-to-nuts living arrangements...independent living when still capable, assisted living when the time comes, and nursing care when the time comes.  Thinking that since elderly are resistant to change, it won't feel scary to just move a couple blocks up the street when the time comes, and perhaps these places have a more extensive network of elder care workers if in fact you wanted to stay in your home;

- Pick a community near where at least one of your kids live...or pick a community in a "vacation" type location...either a place that is convenient for kids to visit or they want to visit;

- Maybe not choose a 55+ commmunity...but maybe a community affiliated with an assisted living/nursing kind of facility, so no restrictions on who can live in the independent living area, but again, when the time comes you must move across the street (do these places exist?);

- Seems like once most people hit a certain age, their capability to make decisions freezes...so maybe make a pact to make the move no later than 70?

- Have honest conversations with your kids when say you are 60 and the kids are 30, about your plans for the above?

- Feels like burdening your heirs with real estate is a major pain-in-the-ass...perhaps best to plan to sell your house at some point and then rent?  Or maybe, plan to have your house down to a minimalist kind of situation?

I guess it just seems like our parents are maybe the last generation (or maybe it's the boomers) where you either didn't have a plan, or you didn't include your children in a plan...and now things are mess.

Any other ideas so we don't make the mistakes of our parents?[/quote]

Move into a CCRC when still healthy.  Pay the large upfront entry fee so all "higher level care" is fully covered without a price increase (well okay, the only price increase is paying for 3 full meals a day versus 1-1.5 that's currently included).    
My parents were LMC, frugal and saved as much as they could.  We had to pay the $400K+ entry fee but they qualified for the smallest 2 bedroom/2 bath at a very nice facility.  But now they have spent 5 years in independent living, are more social, no longer have yard work or home maintenance, and we know they are well cared for.  If either needs nursing care/memory care/assisted living, the transition would happen within a day.  The other would be able to visit them by walking inside the complex.  If possible, the healthy one could bring them to the apartment for part of day and meals (sometime possible with even early memory care) but return them so they are safe the rest of the day.

IMO everyone should attempt to enter a CCRC by early 70s.  Also, should they "run out of money" they will never have to pay anymore to the facility and still get to live there.  They facility does not touch SS income.  Currently there are 4 members who have "run out of money" all are women 95+ (spouses have passed already).  2 are still in independent living, the other 2 are in advanced care.  And it's true, you don't pay anything else.  THat's what the high entry fee is for---to cover advanced care and someone living well into their 90s (most people don't and they make more from the entry fee).

[/quote]

Do all these facilities run the same way, or is it really you need to read the fine print of all CCRCs?

What are the main reasons to pay the big up-front fee?  Is it the guarantee of a place at all levels of care?  Is it that they can't kick you out if you don't pay?  Are all activities usually included with your monthly fee in independent living?  Any level of meals usually part of the monthly independent living fee?

I assume there must be some NW test or other kind of vetting they perform, correct?  I doubt they would accept someone who can only pay the up-front fee and a year of independent living as an example.[/quote]

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