Dealing with a parent's diminishing physical and/or cognitive health can be both emotionally and financially draining. The same is true when a parent passes away, as many adult children are left to sort out not only their own complex feelings, but also complex estate matters.
The cost of living in a skilled nursing care facility is astronomical. As we mentioned in an earlier post, New Yorkers currently pay an average of about $136,000 a year for a private room in a nursing home. Other care options do cost less but they're still not cheap: $49,200, on average, to live in a New York assisted living facility; $52,000 a year for a home health aide.