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Financial Planning for Assisted Living
The pricing at Belmont Village will vary based on your living arrangements and the amount of care you need. You may be eligible for a number of benefits and services that can help offset your living costs.
If you are a US veteran or the surviving spouse of a veteran, you may be eligible to receive a federal monthly pension—up to $2,200 per month – to help pay for personal care such as assisted living. Find out more at www.benefits.va.gov/pension/aid_attendance_housebound.asp
ELDERLIFE FINANCIAL SERVICES
Simple, convenient financing options are available from a recognized leader in financial services. Flexible line of credit options are ideal for those who need rent or care support while they wait for other benefits to begin or are in the process of selling a home. Find out more at www.elderlifefinancial.com or call 1-888-228-4500 for details.
GIFT TAX EXEMPTION
If your family members contribute to pay the costs assisted living, they may take advantage of the IRS gift tax exemption. In 2019, individuals can provide gifts of up to $15,000 per person per year without paying a federal gift tax ($30,000 as a joint gift). Before making any financial decisions, we strongly recommend that you consult a tax professional.
For more information about these programs, please contact a Community Relations Associate at the Belmont Village nearest you.