Are you sure you want to exit? Your progress will be lost.
Who are you caring for?
Which best describes their mobility?
How well are they maintaining their hygiene?
How are they managing their medications?
Does their living environment pose any safety concerns?
Fall risks, spoiled food, or other threats to wellbeing
Are they experiencing any memory loss?
Which best describes your loved one's social life?
Acknowledgment of Disclosures and Authorization
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington. Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services. APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid. We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour. APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment. You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints. Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights. APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.I agree that: A.I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information"). B.APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink. C.APFM may send all communications to me electronically via e-mail or by access to an APFM web site. D.If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records. E.This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year. F.You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
✔
I acknowledge and authorize
✔
I consent to the collection of my consumer health data.*
✔
I consent to the sharing of my consumer health data with qualified home care agencies.*
*If I am consenting on behalf of someone else, I have the proper authorization to do so. By clicking Get My Results, you agree to our Privacy Policy. You also consent to receive calls and texts, which may be autodialed, from us and our customer communities. Your consent is not a condition to using our service. Please visit our Terms of Use. for information about our privacy practices.
Mostly Independent
Your loved one may not require home care or assisted living services at this time. However, continue to monitor their condition for changes and consider occasional in-home care services for help as needed.
Remember, this assessment is not a substitute for professional advice.
Share a few details and we will match you to trusted home care in your area:
Pam, yes & that's my point of asking the OP how the house was bought (and mortgaged) as a trust. The OP mentioned "mortgage of 20 years", which I'm assuming means there is still a mortgage on it with 20 years remaining but maybe that's not it???
In addition to the very detailed info GA has provided you, I'd suggest you also look into how the trust is / will continue to be funded.
Some sort of $$$ is being used to pay the mortgage, property taxes, upkeep, etc on the house which is "owned" by the trust. So hare these being paid? Often a trust is funded by investment sources or dividends which pay into a trust bank account, so family isn't feeling the pinch of paying all things "house" but if the market goes wrong for the trust, so no $ in, then paying house costs put family in panic at worst or a bind at best, as they haven't had to ever pay house costs.....
Out of curiosity, do you know how this house was bought as a trust and got a mortgage written to the trust? My experience has been that mortgage co. are not apt to lend on a trust as a trust has no job, no monthly income, no traditional FICO score unless there is a lot of other wealth in the trust to cover the risk of lending. So it's not the usual FHA or VA mortgage that is done.
Mea culpa - I just realized I missed that your father apparently is the sole holder of the trust, rather than both your parents. My apologies.
I should have added that if all the assets are (a) titled in the name of the trust or (b) held jointly with others, to whom the assets would pass directly on death b/c of that ownership, then trusts allow the avoidance of probate - no local oversight by a probate court.
This method of avoiding the rigamaroles of probate courts is one of the reasons some attorneys and some nonattorneys get on the trust bandwagon. There's much more privacy with a trust - you don't have to file accountings of assets, expenditures, or make aspects of the trust public. You still have to file federal taxes though.
Happy, trusts are complicated instruments and probably require more explanation than can be provided here. In Michigan, certain conditions we wanted to make couldn't legally be handled via a will, so a trust was necessary. Other people have their own reasons for putting their assets in trusts.
There are a variety of trusts as well, including living trusts, charitable trust, irrevocable trusts and special needs trusts.
After execution, a trust is "funded" by transfer of a house and financial assets into a trust. The holders of the house, any other real estate property, financial instruments (CDs, mutuals, stocks) would execute a deed to transfer ownership of the real property. I don't remember how we retitled the financial instruments.
The method of disposition of assets, or exclusion of someone from receiving assets, are detailed in the trust, which as I wrote earlier can be more flexible if someone is to be disinherited or precluded from attempting to get any assets.
A "Pour-Over Will" is executed as well; this links provisions and assets addressed in the Will to the Trust. If the assets aren't properly transferred to the trust, though, they aren't protected by it.
All of these assets would then be assets of the trust, for the benefit of your parents. Generally your parents would be the initial Trustees, with successor trustee(s) named after their death, or on other conditions specified.
Your parents still own the assets; they're just retitled in the name of the trust.
One thing this does is put the assets in a compressed tax bracket, i.e., they're taxed at higher rates more quickly. This is one of the reasons trusts aren't DIY projects. There are a lot of legal and tax innuendoes that are best understood by attorneys.
If you or your siblings aren't named as successor trustees, you have no obligations for trust management.
You might now be wondering what does a trust accomplish? That depends on the type of trust, and the specific reason(s) an attorney would recommend a trust instead of a simple will.
It's not always very clear how a trust operates; dealing with one is definitely a learning experience, especially filing the trust taxes.
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington.
Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services.
APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid.
We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour.
APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment.
You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints.
Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights.
APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.
I agree that:
A.
I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information").
B.
APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink.
C.
APFM may send all communications to me electronically via e-mail or by access to an APFM web site.
D.
If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records.
E.
This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year.
F.
You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
Some sort of $$$ is being used to pay the mortgage, property taxes, upkeep, etc on the house which is "owned" by the trust. So hare these being paid? Often a trust is funded by investment sources or dividends which pay into a trust bank account, so family isn't feeling the pinch of paying all things "house" but if the market goes wrong for the trust, so no $ in, then paying house costs put family in panic at worst or a bind at best, as they haven't had to ever pay house costs.....
Out of curiosity, do you know how this house was bought as a trust and got a mortgage written to the trust? My experience has been that mortgage co. are not apt to lend on a trust as a trust has no job, no monthly income, no traditional FICO score unless there is a lot of other wealth in the trust to cover the risk of lending. So it's not the usual FHA or VA mortgage that is done.
I should have added that if all the assets are (a) titled in the name of the trust or (b) held jointly with others, to whom the assets would pass directly on death b/c of that ownership, then trusts allow the avoidance of probate - no local oversight by a probate court.
This method of avoiding the rigamaroles of probate courts is one of the reasons some attorneys and some nonattorneys get on the trust bandwagon. There's much more privacy with a trust - you don't have to file accountings of assets, expenditures, or make aspects of the trust public. You still have to file federal taxes though.
There are a variety of trusts as well, including living trusts, charitable trust, irrevocable trusts and special needs trusts.
After execution, a trust is "funded" by transfer of a house and financial assets into a trust. The holders of the house, any other real estate property, financial instruments (CDs, mutuals, stocks) would execute a deed to transfer ownership of the real property. I don't remember how we retitled the financial instruments.
The method of disposition of assets, or exclusion of someone from receiving assets, are detailed in the trust, which as I wrote earlier can be more flexible if someone is to be disinherited or precluded from attempting to get any assets.
A "Pour-Over Will" is executed as well; this links provisions and assets addressed in the Will to the Trust. If the assets aren't properly transferred to the trust, though, they aren't protected by it.
All of these assets would then be assets of the trust, for the benefit of your parents. Generally your parents would be the initial Trustees, with successor trustee(s) named after their death, or on other conditions specified.
Your parents still own the assets; they're just retitled in the name of the trust.
One thing this does is put the assets in a compressed tax bracket, i.e., they're taxed at higher rates more quickly. This is one of the reasons trusts aren't DIY projects. There are a lot of legal and tax innuendoes that are best understood by attorneys.
If you or your siblings aren't named as successor trustees, you have no obligations for trust management.
You might now be wondering what does a trust accomplish? That depends on the type of trust, and the specific reason(s) an attorney would recommend a trust instead of a simple will.
It's not always very clear how a trust operates; dealing with one is definitely a learning experience, especially filing the trust taxes.