Q: Are there tax benefits of living at Edgewood Summit?
A: Part of the fees you pay to Edgewood Summit are attributable toward medical expenses. The IRS states that a continuing care retirement community can determine the amount of deductibility based on the community’s medical expenses. Before taking a deduction, please discuss it with your tax advisor.
Q: How can I be sure Edgewood Summit will remain financially viable?
A: As a non-profit community, we don’t have responsibilities to shareholders – our responsibilities are to our residents. Because of that, our strong financial profile and our skillful management team, you can be reassured that we intend to be around for a long time.
Q: What happens if I outlive my resources?
A: We are always willing to work with our residents when circumstances deem it necessary. These situations are handled on a case-by-case basis.
Q: How do I find out what my house is worth in today’s market?
A: We can help you understand the current real estate market and how that may affect your decision. In addition, we can assist you in finding an agent who can help you make the smartest decision possible.
Q: Do I need to keep insurance when I move in?
A: You do not need to keep your homeowner’s insurance. However, many of our residents do keep insurance for personal property.
Q: How can I be sure I’m making the right decision by choosing Edgewood Summit?
A: Choosing the right continuing care retirement community takes research. We encourage seniors and their families to compare facilities for all reasons and features – cost, services offered, staff-to-resident ratios, overall culture and more. We’re confident you will agree with us that Edgewood Summit sets the standard in distinctive retirement living in the Kanawha Valley.
Q: Is there a waiting list?
A: Yes, but the waiting lists vary for each level of care in our community. Availability in our more progressed services may be more difficult as current residents have priority on vacancies.