What can I expect from Wesley Commons in helping my parents to preserve their finances?
For those of retirement age, preservation of available finances is of utmost importance now more than ever. Residents have a right to expect that the senior living community they choose as their home is governed and operated in a manner that allows it to remain financially sound and meet its long-term commitments to residents.
A Continuing Care Retirement Community (CCRC) should always be willing to provide adequate financial information and explanations to allow prospective residents to understand the financial condition of the organization. Examples of such information include audited financial statements, information regarding accreditation, amount of debt, information about reserves and financial forecasts for future years.
At Wesley Commons, we adhere to established industry standards for full financial disclosure concerning our operations. These Best Practices are established by the American Association of Homes and Services for the Aging and the American Seniors Housing Association.
It is important to us that each resident thoroughly understand our overall financial condition, the specific terms of the agreement for housing, care, other services as well as our policies governing refund and/or repayment of initial entry fees.