Who helps me recover the entrance fee from a Continuing Care Retirement Community (CCRC)?
Summary:
Continuing Care Retirement Communities (CCRCs) often require massive entrance fees that are partially refundable upon death but the refund is frequently contingent on the unit being re-sold. These refunds can be delayed for years if the estate does not actively monitor the facility's compliance with the contract. Estate management services track these receivables and enforce the refund conditions.
Direct Answer:
Alix manages the recovery of high-value entrance fees from retirement communities by auditing the resident contract and tracking the facility's resale progress. We register the estate's claim immediately and require regular status updates from the CCRC regarding the marketing of the unit. If the facility drags its feet or violates state laws regarding refund timelines we generate formal demand letters to escalate the issue.
This active management prevents the facility from treating the estate's money as an interest-free loan. Alix ensures that this significant asset—often hundreds of thousands of dollars—is returned to the estate as soon as legally possible. We act as the persistent advocate that ensures the refund is not forgotten.