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Emily Schwarz from ElderLife Financial joins Suzanne to talk about the process of having a free consultation with ElderLife Financial, and goes over a variety of options that might be available to pay for senior care.

Sometimes people reach out to them with questions about home sales, estate sales, and other topics. Life insurance can be an untapped resource. It's possible to sell your life insurance.

People often don't realize that money paid to a licensed facility for health care is tax deductible — paying for senior living isn't "rent," it's a tax deductible medical expense. What usually happens is that the community provides a letter that states what percentage of the total payment can be written off on taxes.

Reverse mortgages are beneficial if one spouse is moving into senior living while the other remains in their house. They can get some equity out of their home to pay for the care.

Learn more at elderlifefinancial.com. Find more podcasts by Emily Schwarz at Answers for Elders.

<a href="https://answersforelders.com/tag/emily-schwarz/">Emily Schwarz</a> from <a href="https://www.elderlifefinancial.com/">ElderLife Financial</a> joins Suzanne to talk about the process of having a free consultation with ElderLife Financial, and goes over a variety of options that might be available to pay for senior care.
Sometimes people reach out to them with questions about home sales, estate sales, and other topics. Life insurance can be an untapped resource. It's possible to sell your life insurance.
People often don't realize that money paid to a licensed facility for health care is tax deductible — paying for senior living isn't "rent," it's a tax deductible medical expense. What usually happens is that the community provides a letter that states what percentage of the total payment can be written off on taxes.
Reverse mortgages are beneficial if one spouse is moving into senior living while the other remains in their house. They can get some equity out of their home to pay for the care.
Learn more at <a href="https://www.elderlifefinancial.com/">elderlifefinancial.com</a>. Find <a href="https://answersforelders.com/tag/emily-schwarz/">more podcasts by Emily Schwarz at Answers for Elders</a>.

Answers for Elders is the North Star in Navigating Senior Care.  Our content is designed to Empower Seniors and their Families through the Daunting Journey of Aging.

Featuring our host, Suzanne Newman and top industry providers across the USA, together, we support, coach and assist seniors, caregivers and their families in finding the best independent solutions in world of aging, with a comprehensive line-up of topics covering Health & Wellness, Life Changes, Living Options, and Money & Law.

Answers for Elders is the North Star in Navigating Senior Care.  Our content is designed to Empower Seniors and their Families through the Daunting Journey of Aging.
Featuring our host, Suzanne Newman and top industry providers across the USA, together, we support, coach and assist seniors, caregivers and their families in finding the best independent solutions in world of aging, with a comprehensive line-up of topics covering Health &amp; Wellness, Life Changes, Living Options, and Money &amp; Law.

Answers For Elders Radio Network

Empowering Seniors and their Families through the Daunting Journey of Aging

For Caregivers: If you're caring for a senior loved one, or navigating later life care, we help make the journey so much easier for you and your family.

For Seniors: We help you be proactive to prepare for your aging years ahead, honoring your wishes.

Featuring our host, Suzanne Newman and top industry providers across the USA, together, we support, coach and assist families in finding the best independent solutions in world of aging, with a comprehensive line-up of topics covering Health & Wellness, Life Changes, Living Options, and Money & Law.

Empowering Seniors and their Families through the Daunting Journey of Aging
For Caregivers: If you're caring for a senior loved one, or navigating later life care, we help make the journey so much easier for you and your family.
For Seniors: We help you be proactive to prepare for your aging years ahead, honoring your wishes.
Featuring our host, Suzanne Newman and top industry providers across the USA, together, we support, coach and assist families in finding the best independent solutions in world of aging, with a comprehensive line-up of topics covering Health &amp; Wellness, Life Changes, Living Options, and Money &amp; Law.

Answers for Elders

Emily Schwarz cites a variety of ways to help pay for senior care, such as long term insurance policies, life insurance, reverse mortgages, and tax deductions.

Untapped Resources to Pay for Senior Care

https://api.omny.fm/orgs/5e27a451-e6e6-4c51-aa03-a7370003783c/clips/9d3aee37-360f-4a91-b2e7-aff2015a667d/transcript

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