lem1955
Recycles dryer sheets
- Joined
- Mar 1, 2007
- Messages
- 315
My spouse is 76. I am 67. We do not have long term care insurance. We have decided to move to a CCRC but not immediately. We have been thinking 2025 or 2026. Our estate planner is encouraging us to take a smaller placeholder unit at the CCRC in order to secure the long-term care benefits sooner rather than later. We have the money to do so but we are not fat-FIRE. It could put a crimp in our plans to travel over the next few years. On the other hand - the CCRC is close to the airport, major hospital, theater, restaurants, on paved road (as opposed to our dirt -mud in spring-road). We would get to know the community which could make the transition easier. We are both in good health now, but the future is not guaranteed. For $ comparison: The unit would cost about $255K w/monthly fees of ~$6,400. Our estate planner says if one of us ended up in a nursing home for years, we would have to pay $1.5M before his medicaid planning provisions kick in. Have any of you made the decision to maintain two homes in order to lock in long-term care? What would you do?