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Assisted Living at $20,000 a Month?

Wealthiest Americans will soon have the choice.

Developers plan on building new luxury assisted living facilities in Manhattan, N.Y., that may seem quite pricey, unless you are among the wealthiest of Americans, according to the Wills, Trusts & Estates Prof Blog in "Manhattan Gets $20,000-a-Month Homes for New Breed of Seniors."

The wealthy will be able to live in these new facilities for $20,000 a month. For that amount, they will get homes that contain all of the expected trappings of luxury and all of the expected services available in assisted living facilities.

It remains to be seen just how many people there are, who will want to live in facilities that cost more per month than several live-in nurses might.

Of course, most people will not be able to afford these new facilities and they still need affordable assisted living facilities for themselves.

Whatever your income level is, you should be able to find an appropriate place for yourself, if you check around.

It might be a wise move to seek the advice of an elder law attorney before signing contracts, especially at $20,000 a month.

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