Reply to Do you know how much is in the family trust?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]People on this board are so paranoid about nursing home care.  Yes it can cost $100-$120k a year, but you have no other expenses once the old person is in there.  You sell the family home and cars.  The old person is not taking vacations or going out to eat.  The home even pays for the adult diapers.  At most there is like $500 a year needed to buy some toothpaste, new socks, and a couple cheap haircuts. A normal retirement savings of a few million that throws off $80-100k a year, social security, and the proceeds from the house sale will easily cover 2-3 years of nursing home care (people don’t last longer than that once they get there- it is depressing as f@ck and they die off).  Calm down about nursing home care, and continue to contribute to your 401k, and you will be fine.

To the OP - there is probably a decent nest egg in that trust, and your parents should be proud to tell you the value.  They saved like they should, and not like the whiners on this board.[/quote]

There are more out of pocket expenses - laundry, depends, haircut, nails, are extra….and if a personal care giver is needed, they can be another big expense - $20,000 a month on top of the $10,000 a month room rate. The money in the trust can quickly be spent if a parent needs that level of care for a period of time.  [/quote]

Laundry is included in the $11k/month we pay. Hair and nails are more but she keeps forgetting to go...

Depends--using one or two per day--is just not that much.

[/quote]

OMG you are supposed to change depends more than once or twice a day! They're not like cotton underwear. They need to be checked every two hours. If soiled with urine or defecation, they need to be changed. If not soiled, they need to be changed every hour hours even if not wet because they start getting sweaty etc and that can cause infections and skin break downs.

I feel sorry for the old people you have cared for.[/quote]

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