Financial questions related to care

DWofDH

Hello. I'm sure this comes across as ignorant. I'm not, and probably just looking for affirmation of my expectations, but if anyone has any feedback - without judgement please - I would appreciate it. DH has been diagnosed at age 62. I work very part time. Young teens. House is not paid for and definitely don't have even enough to retire on. Since our home is not paid for, are we better off selling it and using the equity to buy another house to have little to no mortgage or stay put and just plug along. I am so anxious that his retirement will be lost as it's all we have for our family, but expect that this is what will have to pay for in home care or facility care at some point. Does anyone have any estimates on in home care and how long that period lasts, if until the end?

ronda b

You probably need to see an elder lawyer to see what is best. Not a dumb question at all. We all have there.

Gator1976

there are no dumb questions, only dumb smart as_s answers. You’re a brave sole, stay with it and just be the best you today, you can be.

Whyzit2

agree, see a cela (certified elder law attorney as laws very by state. He/she will guide you in making the decisions you are making as well as protecting your assets. God bless you!

Crkddy

DWofDH, you are wise to be asking these questions, as we all face the same issues. Definitely find an elder care lawyer to review your specific financial situation. In my experience, in-home care cost varies widely depending upon location and whether you choose a private individual or agency. You might expect to pay anywhere in the range of $18 to $40 dollars an hour. When you reach the time for a Memory Care facility, you might expect $100k or more annually. From what I learned on this forum, it is certainly possible to maintain care in-home until the end, particularly with the aid of Hospice. Regarding your home, you may want to consider other factors in addition to financial, such as location convenience, suitability for in-home care, proximity to family and friends, and adaptability by your DH and children.

White Crane

To find a certified elder law attorney in your area, go to nelf.org. A certified will be able to guide you through all the ins and outs associated with getting your finances in order. They can also assist you with getting your durable power of attorney for finances and healthcare. This is extremely please don’t put it off.

Goodlife2025

Welcome - I am in a similar financial and home situation with my DW w/EO at age 49 and I am 62 - retired early to care for her. See an elder care attorney as soon as possible. I did and because I saw him about putting the DPOA in place for us both I was able to get a quicker in office existing client referral appointment in their office for the medicaid medicare and long term planning attorney. Took about 2 months off the process.

DWofDH

https://alzconnected.org/discussion/comment/237152#Comment_237152

Thank you and praying for you and your family.

sandwichone123

I've read that the average time Alzheimer's patients live is 10 years after diagnosis, with of course diminishing ability throughout that time. Early onset, on average, is a little faster. My dh is four years post-diagnosis (in his 50s) and I do not expect to see anything close to six more years.

B2ingua

I think that the lack of any timeline for an individual is perhaps one of the worst things there is about this disease. My wife was diagnosed 9 years and 8 months ago. She looks fine, can't remember anything, can't function by herself. Unlike many cancers or other terminal diseases does she make it 2 months or 10 years no one knows. How can you make plans for anything?

SDianeL

welcome. Sorry for your husbands diagnosis. After you see the attorney, if you decide to downsize and move, do it sooner than later. It will be difficult for him the longer you wait. A smaller more manageable place might be better for you. If you have stairs that’s an issue that you would need to address. Don’t wait to see an attorney. Keep us posted and come here often for info and support.

Goodlife2025

https://alzconnected.org/discussion/comment/237283#Comment_237283

EO at this young age and rapid pace does make planning so difficult. Attorneys want to talk about the 10 - 20 plan with Alz. and I come across down right macabre trying to plan for what I think is maybe the 5 years we have left. I know no one knows how long we each have but I wish some of the professionals would better understand the quick pace at which I feel like we are taking this journey.