Financial Planning FAQ
What Is Lifecare?
Lifecare at The Estates at Carpenters means you can feel confident about your financial security for the future – no matter your long-term care needs. Research shows that about 70 percent of people 65 and older will need long-term care services at some point in their lifetime.
Lifecare guarantees lifelong access to care within a senior living community while protecting your assets at the same time. This lifetime of care includes independent living, assisted living, skilled nursing care and rehabilitation services. With Lifecare, should your health needs change, you can receive health care services at the same monthly rate you pay for independent living. Tax benefits are included!
What Is Long-Term Care Insurance?
Can I Afford to Live at The Estates at Carpenters?
At The Estates at Carpenters, payment of a one-time entrance fee and an ongoing monthly fee guarantees access to a lifetime of health care at predictable costs. Without the protection of Lifecare, long-term health care costs can quickly and easily deplete a lifetime of savings. Lifecare can help protect your assets in retirement. Contact us today to discuss the costs associated with a Lifecare community and how affordable it really can be.
How Does Lifecare Protect My Financial Assets?
The Estates at Carpenters is a Life Plan Community offering a Lifecare contract, which means that costs remain predictable no matter how much care you or your loved one needs – whether that is assisted living, skilled nursing care or short- and long-term rehabilitation.
With a Type A Lifecare contract, residents are guaranteed unlimited, lifetime access to care at rates that don’t increase significantly, even if health needs do. Lifecare is only for individuals who move into independent living while they’re still healthy. Lifecare’s one-time entrance fee and ongoing monthly fee translate into substantial savings compared with pay-as-you-go health care options.
What Are the Florida Retirement Tax Benefits?
Financial incentives abound when you call Florida home in retirement. Florida does not have a state income tax for individuals, so you can continue to build your wealth. All wages and earnings are exempt. Florida has no state inheritance taxes, so you won’t have to pay state taxes on any money willed to you. Florida has no estate tax, so your estate is worth more. Florida has no capital gains tax, so your investments grow larger.
Does Medicaid Pay for Independent Living?
Unlike other types of residential care, such as assisted living communities and nursing homes, independent living communities do not provide assistance with activities of daily living or medical care. For this reason, independent living retirement communities are not covered by insurance like Medicare or Medicaid and are instead paid for out of pocket by residents.
Sales Process FAQ
I’m Interested in Your Community. Where Do I Begin?
Experienced team members in our Sales and Marketing Department are here to assist you with any questions and help you through the process. If you are interested in simply scheduling a visit to tour our beautiful 33-acre community and see our model apartment homes, contact us at 877-849-7815 or complete our online contact form.
If you are ready to make a move to The Estates at Carpenters, our professional team can help you expedite the process – from completing the applications and selecting your residence to customizing your new home and making the actual move.
What Is Involved with the Admission Process?
Once you have decided which apartment home and contract is right for you, the actual application process begins by submitting both a financial and a personal statement. Upon approval of your application, you will be asked to make a deposit on your entrance fee.
Additionally, your physician will need to complete a medical form and return it with the results of recent medical tests. Once your financial paperwork is approved, you will be scheduled for a non-invasive medical evaluation.
Our team will do everything we can to expedite your move, so you can begin enjoying the benefits and amenities of life at The Estates as soon as possible!
Once I Select an Apartment Home and Contract, What Is the Next Step?
Work with our Move-In Coordinator in our Design Center to personalize your spacious independent living residence and make it uniquely your own! Think of your new apartment home as a blank canvas to express your style.
Plus, our VIP Move-In Package – an added value of $2,500! – will help make downsizing and moving from your current home a breeze!
How To Downsize Before Moving to a Senior Living Community?
Downsizing is an important part of moving into your new home. The first step is to have a plan. Moving doesn’t have to be intimidating and stressful. Make a list of all your items. Begin with your most unsentimental possessions. Visit your new home multiple times to determine your needs. Be sure to consult with senior living home staff with any questions.
Health Services FAQ
What Does Assisted Living Provide?
Assisted living residents receive a variety of services and amenities. Receive three meals a day. 24-hour licensed nurses always on call. Medication management. Personal care, including dressing and bathing. Housekeeping. Social and recreational activities. Transportation. Laundry as requested for an additional charge.
Who Qualifies for Assisted Living?
Generally, assisted living is considered appropriate for individuals who need: minimal skilled nursing care services, medication management, and daily assistance with everyday tasks such as bathing, food preparation, housekeeping, etc.