Many of us find that as our parent’s age, they’re likely to need additional assistance to carry out everyday activities. The most typical situation is one in which adult children are called upon to provide routine assistance to their aging parents, and that’s the example I’ll focus on now. Yet, this type of situation can apply to anyone—spouse, grandparent, friend, aunt, sibling, or eventually yourself—who may no longer feel comfortable managing their home and daily care independently.
Aging parents raise concerns and worries regarding their ability to deal with daily home care and personal care; especially when living alone. This likelihood is almost certain to arise as one’s parent bridges the age of 80 which frequently requires more rigorous health and personal care,
If you believe that your parent is beginning to struggle with the rigors of daily living or personal health care, consulting with a geriatric care manager or knowledgeable social worker can be helpful as you explore best options for future in-home care needs. There are many resources in Indianapolis and beyond. As time goes by, however, the eventually worsening in your parent’s medical or cognitive condition will undoubtedly require a change in living arrangements. A good first step–before a crisis arises–is to hold family meetings with your parent and other key healthcare people, so everyone can share their views and help decide how best to proceed. All things considered, three options ensue: (1) schedule visiting health care visits, (2) provide daily care visits, or (3) move your parent to an assisted living facility. Unfortunately, the later is not considered until a health issue requires this type of living support; typically following a fall that results in a debilitating injury or neglected health issue that manifest into a trip to an emergency room.
Most seniors prefer to remain in their own homes or to move into a family member’s home, and sometimes that’s possible—with some help in preparing the home for their home stay or arrival into your home. You and your family may decide that the best place for your parent is in your home. While this can be a very rewarding experience on many levels, living with your parent may lead to some tension caused by a shift in family roles. A once-independent parent may become more dependent. You’ll probably have less time for your spouse and for yourself. You might have to adjust your work schedule, and your children may need to help with household responsibilities, including the care of their grandparent. These role changes can be big adjustments for everyone.
Regardless, you might want to consider what type of living arrangements, given the inherent disruption that your parent’s care will have upon your entire family’s lifestyle, is the best option for all family members involved.
Resources in the community, such as meal delivery service, “friendly visitors,” housekeeping, home health aides, transportation, or other in-home assistance might provide enough support so your parent can remain at home, in familiar surroundings. So, regardless of whether you keep your parent in their home or yours, the home must be safe, with good lighting, clear spaces to walk, no stairs. Tech innovations, such as automatic pill dispensers, movement monitors or webcams, can be useful to keep tabs on your parent or altering you to a potential or ensuing problem. A move to a smaller apartment, condominium or one-story house in their community or yours might also be feasible, with help and check-ins from family. Sharing an apartment or house with a friend or relative could be another possibility.
The type of setting that you eventually choose for your parent will largely depend on four important factors:
- Your parent’s level of health care needs
- Finances – parent’s retirement funds beyond social security
- The proximity to family members to your parent’s location, and
- Support services available in your parent’s community
The cost of assisted living care correlates with the extent of the amenities and care required. That said, more often than not, the cost will range from $25K to $50K annually. While this expense may seem daunting, the best solution often is to leverage the equity accumulated within their house to cover the cost of care. Please don’t try to go this alone! The process will be daunting often leaving you conflicted in emotions, physically fatigued and exasperated in dealing with the legal and financial details.
Packing and moving out of a house is a significant chore for anybody, but for the older adult who has decades’ worth of memories and possessions, moving can be a major emotional challenge to all family members involved in the process. While some communities, have specialized companies that will, for a fee, help organize a senior’s move to a new location and arrange to sell or give away unneeded furniture and possessions, setting this up and coordinating the process will be time-consuming.
Next, you must prepare the home for sale. This often requires repairing a host of neglected items, restoring worn structural elements like the roof, exterior paint, appliances, and the HVAC system up to code. A second option is to update the property and sell it once all the renovations are complete with a realtor. It is also likely that the look of the home, both interior, and exterior, is not going to compete well with newer homes for sale. This will require renovation supported by costly funding until the home sells. For many, the simplest solution is to sell it as is. Yet, the best solution may be to call in a specialist who can assist you in obtaining the optimum solution for your family.
Working with the Ittenbach Capital (IC) pro’s, who can guide you through this process and who will take on the entire burden of addressing all these types of details may be a viable option to consider. Ittenbach Capital has a specialized team of experts, who can collectively assist you in every aspect of taking control of your aging parent’s property and discovering the optimum solution for your parent and your family.
IC’s experts can determine if the best solution for your situation is to sell the property, as is for cash, or to coordinate repairs and prepare the house for a market sale. The cash option can be accommodated within one to two weeks, while the preparation for a market sale typically takes one to two months.
Let the pros from Ittenbach Capital take the stress out of dealing with the inherent difficulties of finding the best options for your aging parent and we can, together, find the best solution for you and your family. Please contact us at www.Ittenbachcapital.com or call us anytime at 317-731-2540.