Protecting family assets while planning on moving to independent senior housing with services available as needed

Step 7 of my journey

I’m writing this October 11, 2016 

It’s been a whirlwind month once again. We winterized the cabin last weekend, and brought an entire truckload of memories home! We managed to donate two full truckloads to the community thrift store—we parted with six huge boxes just out of the kitchen! I gave up the wicker furniture from the three season porch, and funneled (or pushed off to) the kids whatever I could for their everyday homes. I doled out old rods, reels and lures to the grandkids like they were candy! Do you know that between closets, boxes and bins, we parted with 54 board games, and that didn’t include keeping the family favorites!

Last Thursday, I went to the attorney’s office and completed the transfer of the New Mexico time share (there’s only one year left to pay). The condo sold within a week or so—we had two all-cash offers, and they were outbidding one another. We ended up selling it for $14,000 over asking price, so I promised the whole clan we’ll do a five-day Disney cruise out of Florida for spring break. It feels really good to give them such a treat.

Cathy is going to take over the house some time next summer, and all four kids agreed on a fair family value, even though it’s a bit under the appraised value. Let’s hope I don’t kick the bucket for a long time, but when I do, the current home value will be taken out of her share. 

floor plan.png

 

There’s a lovely new senior housing property just a few miles away, and they’re opening another independent wing next spring/summer. I got on the pre-purchase list today, and put down a $5,000 deposit of a 2-bedroom with a den. The independent living with services building living side is $2,400 per month. We also have to put down an additional $60,000, 90 days prior to my planned move in date, but I won’t know the date for sure for several more months.   

It’s a beautiful facility! It’s called Water’s Edge, and I found a corner unit with the master bedroom and the great room, balcony on the south side facing the lake, and the second bedroom and den facing the west. It will give me perfect sunsets for the evenings I write!  This is a view from a drone that one of the resident’s children took last fall before they broke ground. They tell me it’s quite like the view I will have from the den, and that the views from my bedroom and the deck will be even more spectacular.

blog7.png

 

Oh, you should see the amenities. I’m going into this with a positive attitude, now that I’ve met so many people. They have Welcome Wednesdays, and everyone on the waiting list is free to join in on activities. I think I’ll be taking Uber or Lyft there each week, simply because they have a morning water aerobics class, then lunch at an area restaurant, followed by bridge or cribbage in the afternoon. I’m excited at the thought of my social calendar filling up once again.

But I digress. I should be telling you how smoothly everything has been going, and how I’m still getting help around the house—both with maintenance/repairs, and little odds and ends services. The biggest issue is getting up and down the stairs with laundry in tow. It’s just too much of a balancing act these days. When the attorney stopped by with the trust papers the other day, I nearly stumbled on the stairs just trying to get to the front door. I rushed a bit too much, in fear that he would leave before I got it open.

We briefly discussed having someone assist in my monthly bills from here on out, and managing our savings and investments in a more “hands-off” way. I told him I would discuss it with the kids and that we will get out thoughts gathered by the end of the month and make a decision. In many ways, I’ve come to be at peace with the pending move. 

My next step is to start planning for parting with more furnishings and junk I’ve accumulated. I’ve also committed to doing a living estate sale next April, but know it will break my heart at the same time. I’ve contacted Estate Sales MN, and they will hold the sale while we’re all on the Disney cruise, focusing on happy times! Then when I return, I’m hoping the packing won’t seem so overwhelming.

Until next time…air kisses to heaven! –Elsie.

Posted
AuthorBrett Foss