There are many living options available for seniors, and continuing care retirement communities (CCRCs) have become one of the most attractive. Many retirees consider such communities because they typically provide a range of services in one location, including independent living, adult care facilities and nursing home care. This setup allows seniors to \u201cage in place,\u201d staying in the same community as their needs change. Typically, residents pay an entrance fee (which may be refunded) and monthly charges. <\/p>\n
However, consumers should consider the contract terms and other aspects of the community carefully, as there are potential risks involved.<\/p>\n
Residents of a California CCRC have filed a class action lawsuit against the company that owns it, claiming misrepresentation and breach of fiduciary duty. The community, Vi at Palo Alto, charges a high entrance fee that is refunded if the resident moves out or passes away. The refunds naturally become part of the estate plans (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" There are many living options available for seniors, and continuing care retirement communities (CCRCs) have become one of the most attractive. Many retirees consider such communities because they typically provide a range of services in one location, including independent living,…<\/span><\/p>\n