By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington. Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services. APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid. We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour. APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment. You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints. Please contact our Family Feedback Line at (866) 584-7340 or
[email protected] to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights. APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.I agree that: A.I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information"). B.APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink. C.APFM may send all communications to me electronically via e-mail or by access to an APFM web site. D.If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records. E.This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year. F.You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
*If I am consenting on behalf of someone else, I have the proper authorization to do so. By clicking Get My Results, you agree to our
Privacy Policy. You also consent to receive calls and texts, which may be autodialed, from us and our customer communities. Your consent is not a condition to using our service. Please visit our
Terms of Use. for information about our privacy practices.
Whatever the amount of the outstanding mortgage plus interest, fees & whatever else mortgage holder can tack on will be written off. That means dad will get a 1099-C Cancellation of Debt for the full amount written off. IRS gets the 1099-C too. 1099 are supposed to be issued by end of Jan & is taxable income. TAXABLE INCOME. (If foreclosure ends up close to dec, 2017, could delay the 1090-c to 2018 tax year)
For those on NH Medicaid, 1099-c can poses 2 issues:
- as it's taxable income, IRS is fully expecting $ to be paid for taxes due. Dad, if on Medicaid, is basically impoverished so no $ for taxes. But he gets SS & IRS as a super-creditor can attach his SS income to pay off taxes owed. If IRS does attach, then dad cannot pay the required by Medicaid monthly co-pay to the NH.
- and for more fun in this, as it's income reported, another issue could surface if dads state does an IRS match up & his income / asset will be over the allowed amount for Medicaid eligibility due to the 1099 $$$.
The solution will be for dad to file 1040 filing & does IRS Form 982, Reduction of Tax Attributes. It's not imo a DIY or TurboTax/Quick books filing. You need a tax pro or CPA. Totally sticky. Basically what they do is get the 982 to zero out so no taxes. Save any house expense documents as CPA may be able to use them to do the offsets.
If dad walked on other debt, like credit cards, they too can issue 1099-C. Any business can issue 1099-C if amount is over $ 600.00 and they are writing it off their taxes.
If your funds are tight for DPOA expenses & dads monthly income is directly paid to the NH, you may want to access the monthly personal needs allowance fund the NH has for him to use to pay for the CPA next March/April.