Tips For When a Parent Moves: How Should Money Be Spent?

How should money be spent during a senior loved one's move? It's very emotional and sensitive time, with parents and their adult children having different perspectives and agendas. Rebecca Bomann, the CEO of SASH Services, and Suzanne Newman talk about these perspectives. Adult children are worried about the parents' money lasting long enough for their care. They worry that they might have to mortgage their own home in a few years to pay for their Mom's care. Unless parents have set aside a nest egg, it's a concern because the cost of care is so high that proceeds from a home sale might only pay for care for a handful of years. Sometimes they don't want their parent to sell the home because they expect that home to be there for them when their loved one passes away. Meanwhile, what's best for Mom in her situation? She's alone, doesn't see friends, needs social activities, needs medical care, the home has become too much to care for, and the home needs to be sold to fund further care. Sometimes mom intends to bequeath her home to her family, and she places her sense of duty above her own care. Rebecca founded SASH Services (Sell a Senior Home) in 2005 as a blend of real estate, senior care, and social work to provide seniors and their families with home-sale options that are not typical, that are designed around their needs. SASH provides specialized services that lift the selling burden off the senior homeowner and their family while maximizing what can be earned from the home. SASH serves most of western Washington in the Pacific Northwest. If you're out of state, they can steer you to a qualified professional in your area. Find more at the SASH Services website or call 888-400-SASH.See omnystudio.com/listener for privacy information.