Inbox Question | Home Equity for Long Term Care
Big Picture Retirement®
Devin Carroll
4.7 • 545 Ratings
🗓️ 15 May 2025
⏱️ 13 minutes
🧾️ Download transcript
Summary
Today we answer Jeff's question about using home equity to pay for end-of-life care — from tapping into equity for in-home support to selling the home to cover nursing home costs. In high-cost states like California, many seniors are house rich and cash poor, and this episode explores strategies to help families navigate that challenge.
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Transcript
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| 0:00.0 | Welcome to the Big Picture Retirement Show. |
| 0:07.6 | Today, we're going to the inbox to answer questions sent in by you, our listeners. |
| 0:12.3 | Now, if you'd like to send us a question, just head over to big pictureretirement.com and click the Ask a Question tab in the top menu. |
| 0:18.9 | Oh, and just a quick reminder. |
| 0:19.9 | On this podcast, we provide |
| 0:22.0 | general information and not specific tax, legal, or financial advice. But if you're ever ready |
| 0:28.3 | to move from the broad education we provide here to personalized advice that's specific to you, |
| 0:34.7 | you can find links to our websites down in the description. Now let's jump in |
| 0:39.1 | to today's question. John, today's question comes from Jeff, and Jeff said, loving the podcast |
| 0:50.0 | series, the three parts to a perfect estate plan. Something that I was hoping to hear in Part |
| 0:55.0 | 1B, which this is interesting. I'm not sure when this inbox episode is going to air, but we do |
| 1:00.5 | need to lay some groundwork for this before I go further into Jeff's question. So we've been doing |
| 1:06.2 | this series called The Three Parts to a Perfect Estate Plan. And we're still in the midst of recording this. |
| 1:13.2 | Right. But we're about halfway through the three parts. And it's already taken us three |
| 1:18.6 | episodes to get halfway through the three parts. Yeah. So we're going to be at a minimum, |
| 1:23.8 | we're probably going to be at six. Yeah. Five to six, maybe seven. Part 1A and then part |
| 1:29.9 | one B, and then we have part two A, part two B. We'll see what happens to part three. But part |
| 1:36.9 | one B, if you go back, that's actually the way that we have it titled. So if you, if our listeners |
| 1:41.6 | want to go back and listen to that, they can. Anyway, back to Jeff's question. |
| 1:44.4 | Jeff said, something I was hoping to hear in Part 1B is the use of home equity to pay for end-of-life care. |
| 1:51.1 | Anything from tapping in-home equity for in-home care to selling to pay for nursing home care. |
| 1:56.7 | In high-property value states like California, many seniors are house rich and cash poor. |
... |
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