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Getting Financial Assistance for Caregiving Is perhaps perhaps Not effortless — but it is feasible
Homeownership is the one road to assist
For many people, the biggest supply of untapped funds is the house. The normal home owner between the many years of 55 and 64 had house equity of $120,000, in line with the U.S. Census Bureau.
Those 65 and older had typical house equity of $140,000. Benefit from the purchase of a house is tax-free for a solitary home owner, as much as $250,000; for the married couple who file a joint return, it is $500,000.
Then selling the home is an ideal way to raise money if the only real option for a loved one who's receiving care is an assisted living residence or nursing home.