Case Study 3 - Alan & Norma

Alan and Norma, both in their mid 80’s had been married for 60 years. Norma passed away and left Alan on his own and in ill health. His family were extremely stressed in trying to sell the home in order to afford a high age care facility to put Alan in. Alan wasn’t at all happy in selling is marital home and that added to the stress.
 
The solution was to raise the money for an accommodaton bond with a reverse mortgage. That enabled the family to avoid having to put up their own money and more importantly Alan didn’t feel like he was losing his home. They eventually rented the house out and the rental income helps fund the age care costs.
 
It has also given everyone “breathing space” to decide what the best thing is to do with the sale of Alan’s home once he settles into the nursing home.