Mom's income and savings
Most families start here: Social Security, pensions, retirement accounts, and investments. Add up monthly income first, then decide how long savings need to last.
The house
Selling, renting, or borrowing against the home is often the biggest source. If the sale must close first, ask communities about timing; some families use short-term bridge financing. Talk with a financial professional.
Long-term care insurance
If Mom has a policy, find it now and read the benefit triggers, daily or monthly maximum, and elimination period. Call the insurer to ask whether assisted living or memory care qualifies and what paperwork it needs.
Veterans benefits
Veterans and surviving spouses who qualify for a VA pension may be eligible for an added monthly payment called Aid and Attendance if they need help with daily activities, are bedridden, are in a nursing home, or have limited eyesight [1]. Assisted living can qualify, but the benefit doesn't pay a community directly. Work with a VA-accredited representative; you shouldn't have to pay anyone to file.
Life insurance and other assets
Some life insurance policies have options that can help pay for care. Ask the insurer, and get independent financial advice before selling or surrendering a policy.
Free, unbiased help
The Elder Helpline (1-800-96-ELDER) can connect you with free benefits counseling [2]. For contracts and planning, consult an elder law attorney.