It can be stressful enough when a senior citizen or a caregiver decides that a move to assisted living may be the best option for that elder. Along with a ton of organizational and emotional issues, the financial implications are important points that must be pondered and acted upon.
As a Realtor in south Denver, it's part of my job to help transition senior clients to the assisted living facilities in the Denver Front Range that may be the best options for their care. One of the ways in which I act in service to seniors is by doing more than just helping to sell their home: I want to make sure that the entire transition in this phase of your/their life is as seamless and hassle-free as possible.
As such, I want to provide some basic financial and legal questions that a caregiver or senior citizen should ask any community they are considering moving to.
Disclaimer: I am NOT a lawyer and this should NOT be interpreted as legal advice. It's important that you talk with an attorney before signing any contracts.
Questions for Assisted Living Facilities
1) What is the basic fee?
2) What services are included with that fee?
3) What are the additional prices for ala carte services or products?
4) What initial (or down) payment is required? Is any portion of that refundable?
5) If my loved one is not at the facility for an extended period of time (such as due to a hospital or nursing home stay) what fees are still applicable?
6) Is renters insurance mandatory?
7) When, why, and how often are fees likely to be changed?
8) How much advance warning is provided in the event of fee changes and who is notified?
9) Is financial assistance available now or at any juncture?
10) Who is responsible for cleaning or repair in the event of a significant spill or other accident?
11) What's the refund policy in case of closure, ownership change, transfers, or similar events?
12) What are the behaviors or circumstances that may result in termination of services or eviction?
13) What are the rights of residents?
14) What are the grievance procedures and alternatives in case of dissatisfaction with that process?
If you have other questions concerning a move to an assisted living facility, or if you'd like to discuss with me the possible sale of your family home, please feel free to contact me anytime here.
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