As we get older, we become more interested in what retirement homes offer for our future. We also wish to leave some of our hard-earned assets to our children.
Unfortunately, unless you are careful in selecting your retirement home and read the small print of its agreement carefully, you may never achieve the latter objective.
There are many retirement homes that offer to buy back the unit at some percentage of the original price if it is not sold within a certain time after your demise. There are others that continue to charge your estate the monthly fee ad infinitum (except for a slight discount for the meals you can no longer eat.) This second group has no incentive to market your place after you are gone until your estate is also gone. So make sure you read the small print carefully and think before you sign.
Hilton Head Island