Assisted Living Legal Issues Blog
Should They Stay Or Should They Go? Questions Assisted Living Facilities Need Answered When Accepting Private Pay Residents And Dealing With Those Who Do Not Pay
December 19, 2011 | by Andrew BernsA current or prospective resident does not have any liquid assets but owns a home. What can I do to make sure we get paid?
This is one of the most common questions that I get from my clients who own Assisted Living Facilities.
Once upon a time, in a real estate market long, long ago, individuals would list his or her home and upon the sale, move into an assisted living facility, meeting all of the often stringent requirements. Now, with the escalating costs of senior care, prospective residents and their families wait until the last moment before deciding whether and where to move mom and dad. Frequently, this decision coincides with the decision to list the home and the fact that they cannot wait for the proceeds from the real estate closing to move into an assisted living facility.