Page 48 - Network Magazine Spring 2019
P. 48

           “Hey, Mom and Dad, can I
borrow $100,000 + today?”
MARIBETH DEGUISEPPI, REALTOR HOWARD HANNA THE FREDERICK GROUP
Role reversal in families often happens when we aren’t ready for it. Mom & Dad can't live on their own and take care of their home anymore, and it's the responsibility of the children to figure out where the best place is and how they are going to pay for it. It’s not easy like when you were young and asked your parents to borrow money. In most cases, it is a substantial amount of money. Depending on the health or financial situation, will determine if the children are able to accommodate moving mom or dad in with them or if an assisted living/nursing facility is the best route.
No matter what the answer is, the biggest question is how to pay for either of these choices. 1. Do you make renovations to your existing home? 2. Do you sell your home
 and look for a new home with an in-law suite? 3. Do you find an appropriate facility? No matter what you must sell your parents’ house.
 46 NETWORK MAGAZINETM MyNetworkMag.com
 



























































































   46   47   48   49   50