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Retirement communities

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grandmadebb

Junior Member
What is the name of your state? FL

My mother in law is considering signing over all her assets to a retirement community. We are very concerned about this. Is this normal procedure and if she decides she doesn't like it, what happens to her assets?
 


M

moburkes

Senior Member
grandmadebb said:
What is the name of your state? FL

My mother in law is considering signing over all her assets to a retirement community. We are very concerned about this. Is this normal procedure and if she decides she doesn't like it, what happens to her assets?
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It sounds like she's just trying to get her care paid for, but, there are probably better ways to do this. Why are you concerned about it, though? What, specifically?
 
G

grandmadebb

Junior Member
Our biggest concern is she is considering a place 2 1/2 hours away from where we live and we are all the family that lives close. Her other son is in Washington State. She is married so it would be both of them. The other concern is I'm not sure she really understands she is basically giving over all her control to the care of people she doesn't know. We would not be close enough to monitor the care, so I guess we will be looking into places here in Jacksonville for them. My question really is, what happens in the event her husband should pass away before her and if she wants to come out, will she be able to get any of her assets back?
 
M

moburkes

Senior Member
grandmadebb said:
Our biggest concern is she is considering a place 2 1/2 hours away from where we live and we are all the family that lives close. Her other son is in Washington State. She is married so it would be both of them. The other concern is I'm not sure she really understands she is basically giving over all her control to the care of people she doesn't know. We would not be close enough to monitor the care, so I guess we will be looking into places here in Jacksonville for them. My question really is, what happens in the event her husband should pass away before her and if she wants to come out, will she be able to get any of her assets back?
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You'll need to ask them to questions. Those communities are EXPENSIVE, so, unless she lives there for a short period of time, or is worth a LOT of money, there won't be much money left.
 
L

lwpat

Senior Member
Before they do this they need to consult an elder care attorney. Don't depend on the "retirement community" to be forthcoming.
 
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