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Who are you caring for?
Which best describes their mobility?
How well are they maintaining their hygiene?
How are they managing their medications?
Does their living environment pose any safety concerns?
Fall risks, spoiled food, or other threats to wellbeing
Are they experiencing any memory loss?
Which best describes your loved one's social life?
Acknowledgment of Disclosures and Authorization
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington. Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services. APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid. We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour. APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment. You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints. Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights. APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.I agree that: A.I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information"). B.APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink. C.APFM may send all communications to me electronically via e-mail or by access to an APFM web site. D.If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records. E.This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year. F.You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
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Mostly Independent
Your loved one may not require home care or assisted living services at this time. However, continue to monitor their condition for changes and consider occasional in-home care services for help as needed.
Remember, this assessment is not a substitute for professional advice.
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Consult a tax planner as well as an attorney. That capital gains hit could be a killer. My folks bought their house in 1969 for $45,500, and it's worth almost $2 million now. If my mother put me on the title, I'd pay a fortune in taxes.
However, I'm her Trustee and hold durable POA, so I can sell it for her if it was necessary. When my dad died, her cost basis went up to the value it was on his date of death (11/2018), so if we sold it, she'd pay capital gains on the difference between the value in November 2019 and now. The $45,500 cost basis is gone now. If my brother and I inherit the house, our cost basis will be the value on er date of death, and we'd pay taxes on the difference between that and the sale price.
It gets complicated, as you see, so tax planning advice is vital before you do anything.
I’d consult with an Elder Law attorney who is able to advise you options for Medicaid planning. This should be done ASAP. Also explore tax consequences.
I don’t know why you would want to own a home with someone else. It’s opening the door to possible disasters. Take more time to think about your desire to do this. Look for other possibilities to aid in acquiring a home.
jon, I assume the Deed has not be changed? Correct?
One draw back of a parent placing a grown child on a Deed to their house is when the parent passes, and later you sell the house. For Capital Gain Taxes, the basis used goes all the way back to when your parent had purchased the house. If the house has grown in value over the years, you would be responsible for the Capital Gain Taxes when the house is sold.
Tax wise, it is better to inherit the house. That way the basis used for Capital Gain Taxes only goes back to the day you inherited the house.
As Grandma1954 posting, contact an "Elder Law Attorney" to see what is the best approach for your State laws. And if Medicaid is part of the mix [different from Medicare] that could throw a possible wrench, such as a lien.
Really you should contact an Elder Care Attorney to determine the best way to do this so that you are protected and your parent is protected and that joint ownership does not create a problem later if there needs to be an application for Medicaid. While you are getting that done other important paperwork like POA for Health, Finances, Advance directives, Trusts if needed, Will and a whole slew of other important items.
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington.
Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services.
APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid.
We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour.
APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment.
You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints.
Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights.
APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.
I agree that:
A.
I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information").
B.
APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink.
C.
APFM may send all communications to me electronically via e-mail or by access to an APFM web site.
D.
If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records.
E.
This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year.
F.
You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
However, I'm her Trustee and hold durable POA, so I can sell it for her if it was necessary. When my dad died, her cost basis went up to the value it was on his date of death (11/2018), so if we sold it, she'd pay capital gains on the difference between the value in November 2019 and now. The $45,500 cost basis is gone now. If my brother and I inherit the house, our cost basis will be the value on er date of death, and we'd pay taxes on the difference between that and the sale price.
It gets complicated, as you see, so tax planning advice is vital before you do anything.
One draw back of a parent placing a grown child on a Deed to their house is when the parent passes, and later you sell the house. For Capital Gain Taxes, the basis used goes all the way back to when your parent had purchased the house. If the house has grown in value over the years, you would be responsible for the Capital Gain Taxes when the house is sold.
Tax wise, it is better to inherit the house. That way the basis used for Capital Gain Taxes only goes back to the day you inherited the house.
As Grandma1954 posting, contact an "Elder Law Attorney" to see what is the best approach for your State laws. And if Medicaid is part of the mix [different from Medicare] that could throw a possible wrench, such as a lien.
While you are getting that done other important paperwork like POA for Health, Finances, Advance directives, Trusts if needed, Will and a whole slew of other important items.