What can I expect from Carlyle Place in helping my parents to preserve their finances?
For those of retirement age, preservation of available finances is of utmost importance now more than ever. Residents have a right to expect that the senior living community they choose as their home is governed and operated in a manner that allows it to remain financially sound and meet its long-term commitments to residents.
A Life Plan Community should always be willing to provide adequate financial information and explanations to allow prospective residents to understand the financial condition of the organization. Examples of such information include audited financial statements, information regarding accreditation, amount of debt, information about reserves, and financial forecasts for future years.
At Carlyle Place, we adhere to established industry standards for full financial disclosure concerning our operations. These Best Practices are established by the American Association of Homes and Services for the Aging and the American Seniors Housing Association.
It is important to us that each resident thoroughly understands our overall financial condition, the specific terms of the agreement for housing, care, other services as well as our policies governing refund and/or repayment of initial entry fees.
Carlyle Place offers enhanced financial living through a choice of three entrance fee programs: one plan offers a 90% refundable entrance fee for those interested in leaving an estate; one offers a prorated refund of the entrance fee over the first 23 months of residency (to an amount of no less than 50% when the resident leaves the community); the other is a declining balance plan, at a reduced entrance fee. All three plans assure that your lifetime expenses at Carlyle Place are predictable.
Your lifetime costs become predictable. Entrance fees according to dwelling residence chosen. The only substantial cost change occurs when moving permanently to a healthcare neighborhood are additional meals.