Recently the Memphis Daily News reported on the incredible expense of caring for an aging parent in Memphis:
- At-home care costs in Tennessee can range from $38,000 to a whopping $40,000 just for one year
- Assisted living in the Mid-South averages costs of $140/day
- Skilled nursing facilities cost an average of $200/day (or $73,000/year)
- In-home care can cost $18/hour.
The article also offers some money-saving alternatives, including a special TennCare program to help lower elder care costs, tips for tax deduction, and the option of long-term care insurance.
But even with financial assistance and careful planning, the elder care expenses can overwhelm any family.
When you can’t pay your bills because of elder care costs, your options might feel very limited. You likely feel stressed, anxious, frustrated, and perhaps even a little angry. These are natural reactions. But the good news is, you do have options.
I encourage you to take a look at the Memphis Daily News article and see if any of the resources there can help you. But if you find you’re already too far in over your head with debt, please call me today at 901-327-2100.
To help you figure out your options, you need a compassionate lawyer whose team understands the pressures of caring for an aging parent. And we can do that for you. The conversation is free.