Realtor ® 859-582-9998 bobjohns1 @ bellsouth. net
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Selling a home when moving into an assisted living facility
SELLING MADISON COUNTY
FOR 28 YEARS.
Stacey Kelly, REALTOR ®
Advantage Realty
( 859) 624-1440 staceyadamskelly. com
Families must make a number of important decisions when an aging rela�ve decides the �me is right to move into an assisted living facility. Such facili�es help older individuals who are having troubling living independently. In addi�on to finding the right facility for a loved one, many families have to decide what to do with their aging loved one’ s home.
Aging individuals with companions such as a spouse or a live-in partner may not need to sell their house if that person will not be moving to the assisted living facility with them. However, many partners choose to move as well, and family members may need to sell their current home in order to pay for their loved one to stay at an assisted living facility.
• Consider assigning someone power of a�orney. Individuals move into assisted living facili�es for a number of reasons, so not everyone will do so because of diminishing cogni�ve abili�es. However, Caring. com notes that selling the home of a loved one diagnosed with demen�a can present unique challenges, as only a homeowner can transfer a home to a new owner. In such instances, someone may need to step in and assume power of a�orney. Contact an elder law a�orney to facilitate that process, if necessary. Such professionals also can provide insight into laws that can help families determine if it’ s best to sell the home or hold onto it if proceeds from a poten�al sale are not needed to pay for a facility. Arrange for power of a�orney or even a guardianship prior to pu�ng a home on the market.
• Discuss the situa�on and the sale. Aging individuals should be given ample �me to process the idea of selling their homes before moving into an assisted living facility. Homeowners make untold sacrifices to buy and maintain their homes, so the decision to sell could
BOBBY JOHNS
Realtor ® 859-582-9998 bobjohns1 @ bellsouth. net
Advantage Realty
DELMA PEERCY REALTOR
( 859) 661-5117
B LUEHORSE
REALTY
EQUAL HOUSING OPPORTUNITY
519 HAMPTON WAY, SUITE 9 RICHMOND, KY
elicit a range of emo�ons that aging individuals have a right to process before a“ For Sale” sign is erected in the front yard. Caring. com recommends maintaining an open and honest dialogue about what can be achieved by selling the home and how their quality of life will benefit from moving to the assisted living facility.
• Sort through belongings. Caring. com notes the significance of allowing aging rela�ves to take special items with them into the assisted living facility. It will be impossible to take a life�me’ s worth of possessions into such a facility, but sort through belongings with your aging family member and do everything possible to ensure that especially meaningful items can make the move. Remaining items can be donated, sold, given to younger loved ones, or discarded.
• Make sure all relevant par�es remain in the loop. If one person accepts power of a�orney or a similar level of responsibility, that person should ensure all interested par�es remain in the loop about the sale process. Aging adults without diminished mental facul�es should be rou�nely updated on the sale process. Keeping all interested par�es in the loop reduces the risk of objec�ons or other problems when the sale is set to go through.
Experience Matters
THERESA BURDETTE
Loan Officer NMLS # 42082
Give me a call for all your HOME MORTGAGE NEEDS 859-661-2129
To learn more, scan here to visit my website.
Madison Magazine March-April 2025 17