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Reply to "senior living applications & financial disclosure "
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[quote=Anonymous]It’s common for CCC to ask these questions. Most don’t accept Medicaid and are strictly private pay, so they don’t want to have to evict folks who run out of money. It happens. An independent living apartment in a CCC can be a fairly affordable rent, but as a resident’s medical needs increase, higher levels of care can dramatically increase costs and quickly deplete assets. That’s why I suggest that any non-liquid assets (real estate, vehicles, furniture & collectibles) be sold and liquidated BEFORE someone enters a facility. It can be a royal pain to deal with later when a relative suddenly needs more cash flow and property must be sold. [/quote]
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