Reply to Entering assisted living- how to pay

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Plenty of places without entrance fees.  Those places are a rip off.[/quote]
I’m sure, but getting them to agree to this was a Herculean effort, they have friends at a certain place, very near us, and feel comfortable with the security of their endorsement. [/quote]

Find another place close to that one.  That's not worth it and if they are unhappy they are locked in.[/quote]

if their friends are happy there, OP parent's likely will be too.  And no, you are not locked in.  Most give you back the "entrance fee" over the first 48 months.  So you'd get much of it back if you leave after 6 months.  However, very few leave from a CCRC because they don't want to live there---most leave by dying.  My parents are at a high end CCRC, and only 2 people have left in the last 6 years---both because they were younger and widowed and "met someone who lived at another place" and went to move in with them.  If their friends like it, the parents most likely will too.

At that financial level they can afford it---heck they can make the payments with SS/pension, so only loss to potential inheritance is the entrance fee.  Seems like a smart plan to me
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