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Financial Solutions For Assisted Living Expenses

Expenses

At Lakeshore Living, we understand the challenges presented by the current economic environment, especially for those who are ready for Assisted Living and are uncertain how best to afford it. We have partnered with several companies that specialize in financing of assisted living expenses to give our families as many options as possible.

Veterans Aid and Attendance Pension

The Department of Veterans Affairs provides the Aid and Attendance to eligible wartime veterans and their surviving spouses .This benefit can offset a significant portion of assisted living expenses at Lakeshore Living. Depending on your situation, the benefit ranges from $1,094 to $2,019 per month and is tax free. Ask your Lakeshore Living Rep to introduce you to a provider that will discuss the VA's eligibility criteria with you.

The Veterans Aid and Attendance is retroactive from the date the application is submitted and accepted but may not be funded for 12 months.ElderLife Financial can fund the families VA Benefits where they will pay Lakeshore Living the benefit amount until the first VA check comes in which will go directly to ElderLife Financial to reimburse them there is a fee involved.

We have partnered with ElderLife Financial Services and Eldercare Funding Group

ElderLife Financial

Services provide a line of credit to families and seniors interested in financing their assisted living lifestyle. With an Elderlife line of credit or home loan, we can turn community fees into affordable payments today. Whether selling a home, applying for VA benefits or waiting for other funds, our financing options give you the freedom to manage your budget. With one easy call you can have funding in less than 24 hours. Our real estate specialists will assist you with every step of selling your home-from listing staging, marketing, through closing. Our Financing Solutions afford you the time to achieve the best sales price.www.elderlifefinancial.com.

Eldercare Funding Group

Offers two methods of converting a life insurance policy into funds you can use for assisted living .The Assurance Benefit converts a death benefit into a long term care without premium payments or wait periods. Benefit amounts are larger than a life settlement and the process is quick and uncomplicated .The benefit will cover every form of long term care and senior housing. A Life settlement is the sale of an in-force life insurance policy to an investor that will set certain minimum requirements for age and policy. www.lifecarefunding.com.

Long Term Care Diversion Program

Is accepted here it can pay up to $1,100 a month to join you must be 65 years or older have Medicare part A and B meet the financial requirements set by the state of Florida live in the service area. Be determined by the department of elder affairs to need assisted living services.

Tax Gift Exemption

Family members can pitch in toward the cost of assisted living and take advantage of the IRS gift tax exemption. In 2009, individuals can provide gifts up to $13,000 per person per year without paying a federal gift tax. Consultation with a tax professional is strongly advised before making financial decisions.

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Lakeshore Helps Veterans Get Benefits

Assistance For Veterans
Military veterans and their spouses may offset the cost of assisted living with the help of the Veterans Aid & Attendance Benefit program. Click to the right to learn more about this program from the Veterans Support Center, or give us a call.

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