The Wall Street Journal ran an article yesterday entitled, “Mom and Dad, You’re Broke”, that addressed discussions that children may be having with their parents as a result of the economic down turn. The article discusses a variety of topics such as updating a will, financial planning and nursing home care. The article specifically talks about the conversation about purchasing long term care insurance to cover a portion of nursing home costs later in their lives. While the article does not discuss anything new in regards to senior housing, the title of the article was a dose of reality that makes you think what are “You” going to do about your broke parents?
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