The hardest thing about aging is the dependency and reliance upon others to do what we always did alone, get up and move around. The sense of doing it yourself existed since toddler-hood when we wanted to prove and show the world that we were finally independent. Seniors are no different. They want to come and go when they want to and without asking permission or for help.
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Merrick Surgical has a storefront in Merrick, Long Island however many in the New York metropolitan area use Merrick for its service and knowledge of the products that are sold. Many come to Merrick because the products they buy are used for specific pains, illnesses, or purposes that require understanding before a purchase commitment. This saves time and money on both sides and a higher satisfaction quotient for customers.
Whether shopping for seniors, loved ones, or yourself, getting the right item is vitally important!
Nassau County, Suffolk County, Brooklyn, Bronx, Queens, Westchester County, NY are all locations that Merrick can service and deliver to.
Inheriting a home from a loved one can be a wonderful gift or a challenging inconvenience, depending on your individual circumstances and what you plan to do with the home. Many times, families will move into an inherited home and sell their own properties that they’ve been living in. In other cases, those who inherit a home will hold an estate sale to sell off unneeded items and then sell the property itself.
If you won’t be moving into the property and don’t desire to or are unable to rent the property, selling the home is an option. In this guide, you’ll find resources and information on selling an inherited home while avoiding the usual pitfalls and hassles that accompany the process.
Selling a home that you’ve inherited from a loved one can be an emotional process, so the last thing you need to make it even more difficult are avoidable obstacles that waste time, cost money, and add to your frustration. This guide contains everything you need to know to make the process as smooth and painless as possible.
The Stress-Free Guide to Selling an Inherited Home – @Redfin
Tax Implications of Selling an Inherited Home
One of the first things you’ll need to evaluate when considering selling an inherited home is how the sale will impact you financially. In other words, you may be subject to taxes on any proceeds from the sale or from the inheritance of the property itself. While laws may differ from state to state, the following resources will help you understand the tax implications of selling an inherited property.
Inherited properties do not qualify for the home sale tax exclusion. Typically, when you sell a property you’ve lived in for at least two of the previous five years, you can take advantage of a tax exclusion. That means up to $250,000 of proceeds for a single homeowner is tax-free, and married couples can avoid paying taxes on up to $500,000 in proceeds. Unless you plan to live in the home you’ve inherited for at least two years, you won’t be eligible for this exclusion.
You do get to take advantage of the stepped-up tax basis. Inherited properties aren’t eligible for the home sale tax exclusion, but you do get to take advantage of a stepped-up tax basis. Ordinarily, proceeds are calculated using the purchase price plus any improvements made to the property during ownership. In the case of an inherited property, the tax basis is the fair market value of the property at the time of the previous owner’s death. This prevents adult children from owing substantial taxes on properties that have appreciated dramatically over the past several decades.
Know where and how to report sale proceeds. The IRS requires those who sell an inherited property to report proceeds as taxable income. The specific amount that will be taxable is based upon the fair market value and other improvements used to calculate the basis. This publication from the IRS describes where to find instructions and which forms to use.
After understanding the financial implications and determining that selling the property is the right course of action, you’ll need to prepare the home for sale. That means clearing out personal belongings, de-cluttering when necessary, and de-personalizing the rooms. The following tips and resources provide helpful information for preparing an inherited home for a sale.
Clean out personal belongings. This is one of the most emotionally challenging aspects of inheriting a home. Going through your parents’ or loved ones’ most personal belongings often brings back memories of the past. This article offers tips for clearing out your late parents’ home, including helpful tips such as hiring an appraiser to value belongings such as jewelry and antiques.
Hold a yard sale or estate sale. After divvying up cherished possessions to heirs, you may opt to hold a yard sale or estate sale for the rest of the belongings. As this article explains, homes show better on the market when clean and empty or staged. And, as this article points out, some generations are much less likely to have a desire to keep certain memorabilia or sentimental objects around.
Wait for the estate to go through probate. The estate must go through probate before you may sell the property. Most states have a summary probate process, but this is available only to small estates ranging in value from a few thousand to a few hundred thousand dollars. Most estates that include real estate and other assets will exceed this threshold.
Determine who holds the legal responsibility to handle the transaction. If the property owner left a Will, the executor is the person who has the responsibility and ability to distribute the assets of the estate, including real estate. If the property is in a Trust, the trustee holds this same power. In situations where siblings have inherited property together from their parents, one person often has the ultimate authority and responsibility to handle the real estate transaction.
Choose the right real estate agent. While it’s often tempting to choose a real estate agent based on who you know, enlisting the services of friends or family members to coordinate the sale of an inherited home is probably not the best idea. This article offers helpful suggestions for choosing the right real estate agent for your needs.
Pricing Your Inherited Home and Negotiating Offers
Pricing an inherited home to sell is one of the biggest decisions you’ll make, and it hinges on many factors, such as whether there is an existing mortgage on the property that must be paid off, whether the proceeds from the sale will be used to pay off other remaining debts, and of course, the current real estate market conditions. The following tips and resources will help you – along with the help of your real estate agent – determine the best listing price for your inherited home and negotiate with buyers to get the most out of the property.
Don’t expect to get your asking price. Most people selling a home base the listing price on comparable properties that have sold recently, but depending on market conditions (whether it’s a buyer’s market or a seller’s market), offers may be tens of thousands of dollars below your asking price. Ultimately, the negotiation process determines the final selling price, so choosing a real estate agent who will advocate for you and negotiate on your behalf is important.
Don’t price the property too high. Ideally, you want to list the property at a realistic price – but at a higher price than you’re willing to settle for. A high or unrealistic listing price turns prospective buyers away, while a lower, more reasonable price can attract buyers. A low listing price is sometimes even used as a strategic move to attract a multitude of buyers who may then enter a bidding war, meaning the seller ends up with a higher sale price at the end of the day. Price it low enough that it’s attractive to prospective buyers, but high enough that you have room to negotiate.
At the same time, don’t settle for less than the property is worth. Buyers want to get a home for the lowest possible price, while sellers naturally want to get the maximum price for the property. This is particularly true when the home is an inherited property that was once a family home where the sellers have many childhood memories. This is why offers are sometimes countered and buyers and sellers end up agreeing on a final sale price somewhere in between the two extremes. This article offers several tips for distressed sellers who need to sell quickly but also want to get a fair price for their properties.
Don’t be too eager to make concessions. Often, offers from potential buyers will ask for a lower selling price, seller assistance with closing costs, or even funds placed in escrow for certain repairs or improvements. This article offers several helpful tips for skillful negotiations applicable to both buyers and sellers.
Don’t accept the first offer you receive. Unless you’re lucky enough to get a full-price offer on the property (in a hot seller’s market, this can happen if the property and price are right), don’t be too hasty in accepting the first offer you receive. In most cases, buyers will make an initial offer that is less than what they’re actually willing to pay and below – sometimes tens of thousands of dollars below – the listing price. This article offers valuable tips for playing hardball with counter offers and getting what you know the home is worth.
The process of selling a home can take weeks to months, depending on the condition of the property, market value and market conditions, and other factors such as the season and even the skills of your real estate agent. From the offer to closing, these resources outline what to expect while you’re selling an inherited home.
Your real estate agent may hold a broker’s open house or a general open house. After listing a property, some real estate agents like to hold open houses to generate initial interest in the home. This article describes several things that typically happen after listing a property for sale, including open houses and the typical six-week “wall” sellers hit if there hasn’t been interest in the home after six weeks on the market.
Any real estate transaction can have its share of ups and downs, and the process of getting from offer to close is often rife with obstacles, as well. Selling an inherited home is certainly no exception; in fact, you may be more likely to encounter some surprises simply because the circumstances are different or you’re not as familiar with the property as you think you might be. The following tips and resources offer advice for coping with these hidden gotchas without having a total breakdown.
Wily executors can keep an estate in probate for years. This enables the executor or other beneficiaries to have use of the home and other assets, without actually transferring ownership of the property. This is a temporary situation, however, as all property must eventually be transferred to another party, as this article explains.
Handle equal distribution carefully. Many wills specify that the estate must be divided equally between siblings or beneficiaries. This means the value of the estate must be distributed equally, but challenges arise when it comes to agreeing on the value of assets such as sentimental belongings. This article suggests ways to handle the equal distribution of assets among siblings.
Try not to feel guilty about items you choose not to keep. This article touches on the reality of divvying up belongings after a loved one passes and offers tips for determining what to keep. Not only is it emotionally draining to sort through decades of cherished possessions and memories, but heirs are often riddled with grief and guilt about not holding onto every belonging that carries a memory.
If the property is “underwater,” you may have other options. This article explains that heirs may choose not to accept an inherited home at all if there are environmental concerns or more money is owed on the mortgage than the home is worth. You’ll also want to check to ensure there are no liens on the property before putting it on the market.
You may be facing more repairs than you realized. If the home was occupied by an elderly loved one who was unable to keep up with regular home maintenance adequately, the property you’ve inherited could have both visible and hidden problems that will almost certainly arise during a home inspection. These issues, depending on their severity, can cost you thousands of dollars – or even the sale.
You and your sibling(s) may not agree – on the purchase price, on who gets to live in the inherited property, how necessary repairs should be handled, or really anything involving the property you’ve inherited jointly. Shocking, we know. But the truth is even siblings who otherwise get along quite well can find themselves in a heated argument about their former family home. This article offers tips for handling a home you’ve inherited with a sibling.
Selling a home you’ve inherited from a loved one who has passed carries much responsibility. It’s already an emotional process, and adding the typical stress that comes with selling any property can easily be enough to send even the calmest, coolest, and most collected person over the edge. Arming yourself with the information and resources provided in this guide will prepare you for any obstacles that may cross your path, making the sales process smoother and more bearable.
How to care for your aging parents from a distance | PBS NewsHour
Concern about mom or dad’s health and well-being is top of mind for many baby boomers today. Worrisome signs of your parent’s frailty, progressive memory loss or the decline in health require more and more of your help and attention. But what if you live a good distance away? Whether you live an hour away, in a different state, or maybe even in another country, caregiving at a distance presents very real challenges.
No longer just a devoted daughter or son, you’re now what the professionals in the aging field call a “long-distance caregiver.” Thrust into what is often a new world of intricate responsibilities, you may find it hard to see the personal rewards ahead. But they are there, as is the help available to assist you on this caregiving journey.
There is no one right way to be a caregiver; everyone’s situation is different. You will find that, among a host of things, family dynamics, financial resources and the ability of your parent(s) to provide guidance for the support that they desire will shape your situation.
You can expect your caregiving responsibilities to include, at a minimum, two key functions: information gatherer (from your parent[s], websites, books, word of mouth, etc.) and coordinator of services (contacting potential service providers, scheduling, coordinating payment, monitoring medical care). Do plan on traveling and spending some time on the phone to arrange care and services.
It will help you immensely if, before there is a crisis, your parent(s) provide you with information to locate their important records, phone numbers, email addresses and other essential contact information. If a crisis has already occurred, such as a stroke or traumatic brain injury, this information is still important to gather, but it may require more detective work on your part.
Family Caregiver Alliance’s “Where to Find My Important Papers” will help you collect information which will simplify communication with government agencies such as Social Security or the Veterans Administration, help with banking and other financial transactions, and make speaking with your parent’s attorney, accountant and physician easier.
Legal documents, such as Durable Power of Attorney for Health Care and Durable Power of Attorney for Asset Management can and should be prepared before a health condition makes it impossible for your parent to do so. For more information, read, “Legal Issues in Planning for Incapacity.”
To keep things in order, long-distance caregivers will benefit from keeping a care notebook — a central place to keep the important information that you gather. A number of care notebook templates — hard copy or digital — are available for purchase. Or you can create your own, either a digital version or by using a good old three-ring binder with pocket dividers. Be sure your notebook contains current information on your parent’s prescriptions.
If paid caregivers are employed to provide care to your loved one, you will want them to maintain a separate notebook documenting medication administration, vital signs, and other key physical and mental health status information. We’ll talk more about privately hired caregivers in another column.
If you feel overwhelmed at any point, never hesitate to call in a friend or professional to help. An objective advisor knowledgeable about Medicare and Medicaid can be immensely helpful in sorting out health care eligibility and coverage. A social worker (National Association of Social Workers) or geriatric care manager (National Association of Professional Geriatric Care Managers) can facilitate a family meeting to help prepare a care plan and/or deal with family dissension. No one can master everything, not even the people who are experts in their field. The solution lies in putting together a team and using each team member’s strengths — including yours.
To help you get started, here are a few key tips to keep in mind:
Communicate: As much as possible, involve the one who needs care in any decision making process, especially those related to care and housing. Be sure to listen to his or her expressed preferences and respect their known values, even when these differ from yours. Instructions to paid caregivers should be in writing.
Learn what help is available: Educate yourself on the care and services available. Although every area is unique in the type of services that are offered, similar kinds of services are found throughout the U.S. (e.g. adult day care, home care, case management, etc.). Eldercare Locator at (800) 677-1116 can direct you to the Area Agency on Aging appropriate for your parent(s). FCA’s Family Care Navigator offers a state-by-state searchable database to help you locate help in your state.
Taking care: Take care of yourself. Caregiving can be stressful. Create a support network for yourself. Talk with friends and family. Allow yourself to hire help or involve other family members. Trying to do it all yourself is not healthy for you or your loved one.
Changing needs: Understand that care needs will change over time; it’s not too early to think about possible future needs. Once you locate resources, speak to a social worker who has experience in planning for eldercare. There are many options to be considered, and you’ll want to make informed, well-thought-out decisions about your parent’s care.
The sudden realization of your new role as a caregiver is likely to be stressful. How can you be both a caring daughter or son and the coordinator of a multitude of tasks required when taking on the day-to-day responsibilities of a loved one? You may feel overwhelmed and isolated. In reality, you have lots of company. Approximately 76 million of us are baby boomers, many with parents who are approaching a time in their life that will require aid and assistance. We know that an estimated 43.5 million Americans provide or manage care for a relative or friend 50+ years or older. And this number is growing every day.
The good news is that with so many of us involved in care from a distance, there’s lots of information to help. Here are a few additional guides offering checklists and specific tips to help you in your long-distance caregiving journey.
I’m going to say something politically incorrect here: Sometimes our elderly parents make us a little nuts. (And sometimes they out-and-out drive us crazy.) We love you, Mom and Dad, but we’ve heard the story about Aunt Cissy pouring wine in the dog’s bowl so many times we can tell it ourselves — in our sleep.
The repetitions, the forgetfulness, the incessant asking whether we’d like a sandwich: Eventually it just happens, and out of our well-meaning mouths tumble snarky comments and insults that we really don’t mean but they … just … slip … out.
“Seniors often know that their memory and cognitive and physical abilities are declining, and reminders are only hurtful,” says Francine Lederer, a psychotherapist in Los Angeles who works with “sandwich generation” patients and their parents. But even when we manage to hold our tongue, frustration lingers. That’s when we have to be doubly mindful, because by repressing those emotions, we’re more likely to have an emotional outburst.
“You might be justifiably annoyed,” Lederer says, “but take a step back and consider how your parent must feel as she faces her diminished capacities.” When people first start “slipping,” they are aware of the loss, and they are often terrified, scared and saddened.
Since forewarned is forearmed, here are eight common things we often catch ourselves saying plus suggestions for less hurtful ways to say them.
1. “How can you not remember that!?” That lengthy discussion you had last week with your dad about getting the car inspected might as well never have happened. Seniors often lose short-term memory before long-term and forget all kinds of things we think are monumentally important, like where they put their glasses or the keys — or when to take the car in to the shop.
Say instead: “See this sticker? If the car isn’t inspected before the end of the month, a cop will give you a very expensive reminder.” Place a few Post-its notes around — on the dashboard, fridge and bathroom mirror. Add a smiley face to keep the tone light. And if you still think your parent might forget, make the appointment then call your mom that morning to remind her.
2. “You could do that if you really tried.” How hard is it to change the light bulb in the table lamp? Well, if your hands shake a lot or you can’t reach the shelf where you keep spare bulbs — or you’ve grown wary of electrical outlets — very hard. Simple tasks, like tying shoes, can become next-to-impossible if you have arthritis in your fingers or your back doesn’t bend easily. And being shamed into trying something doesn’t help.
Say instead: “Let me watch and see where you’re having trouble so we can figure out how this can get done.” Or if you live out of town: “Ask (So-and-so) for help.” Seniors, like everyone else, want to maintain their independence. But if a project is truly beyond their capabilities and they either don’t know anyone who could help (or won’t ask), you might want to try to find someone who can lend a hand.
3. “I just showed you how to use the DVR yesterday.” Learning new technology is tough for any adult, but gadgets with lots of buttons and options pose a special challenge for someone whose cognition or eyesight is failing. Even those of us with nimble fingers and well-functioning frontal lobes can be stymied by a new device that labels the controls differently from the one we are used to.
Say instead: “The blue button on top turns the TV on, and there’s one set of arrows for changing the channel and another for the volume. I’ll show you again.” Better yet — ask your parents’ cable or satellite provider to recommend a senior-friendly remote control with a simple design. Some companies give these to seniors for a nominal charge. If not, purchase one at a local electronics store. Or if they’re okay following instructions, you could write or print out step-by-step directions in large, legible type and leave it near the remote or listings guide.
4. “What does that have to do with what we’re talking about?” One minute you and your dad are discussing summer vegetables and the next he’s talking about a problem with the sprinkler system. What happened? Conversations with elderly parents often “go rogue” — either because they can’t keep their mind on the thread or they are simply bored and want to change the subject.
Say instead: “I was telling you about my garden. You love my fresh lettuce!” If the subject is important to you, try to bring the conversation back on track without pointing a finger at the senior’s slipping powers of conversation. And to avoid suppressing genuine anger or sadness, gently explain why the conversation was important to you. Another option: Say nothing and just listen.
5. “You already told me that.” And you don’t ever repeat yourself? We all say things more than once — but because elderly parents seem to do it all the time, we lose our patience with them.
Say instead: “No kidding?! And don’t tell me that the next thing you did was . . . .” Yes, you can make a joke out of it — but only if your parent won’t feel hurt. Best-case scenario: Your mom or dad will feel amused and relaxed enough to join in.
6. “I want your silver tea service when you die.” This is wrong on so many levels. Even worse than casually referencing their death is the fact that you come off like a circling vulture.
Say instead: “I have been reading how it’s helpful for everyone if parents leave a list specifying what will be left to whom.” Stress that unless they make their wishes known, there may be conflict among siblings and other relatives. I know one woman who gave her children and grandchildren stickers which they could use to mark items they desired (by placing them in the back or on the bottom).
7. “Wake up! (Or shhhh!) I thought you wanted to see this.” The darkened halls of concerts, movies, plays and religious services (or even the TV room at home) cue our elderly parents that it’s time for a quick snooze — which might be OK if there aren’t people around you trying to hear the show. There’s no need to remind older people that they’re committing a faux pas. And if their hearing is diminished, they may not realize that everyone can hear them “whisper.”
Say instead: “Mom, I know you don’t want to miss this.” Most likely she’ll fall asleep again. Then it’s up to you how many times you want to bother with the nudges — and not take it personally that your parent fell asleep on you.
8. “Hel-lo?! Your grandson’s name is Ryan.” How many times have you called your husband by the dog’s name? Mixing up appellations can be a sign of cognitive impairment — or just a normal problem with word recall. The more it happens, though, the more likely it is that your parent is moving into a stage where he needs medical intervention.
Say instead: “It’s Ryan, Dad. Your first grandson’s name is Ryan.” There aren’t a lot of different ways to say this: The difference here is how you say it. Don’t sound critical or angry; say it gently and with a friendly smile. If your father is truly confused, he’ll probably be relieved that you’re not offended. If it’s just a slip of the tongue, he’ll be glad you’re not annoyed. If he really truly can’t remember your children’s names, you have larger issues to deal with.
The most important thing, Lederer stresses, is that as our parents age, we go out of our way to maintain good relationships. “When dealing with elderly people, let your motto be, ‘Reframe, don’t blame,’” she says. A slip of the tongue can unleash a world of hurt and ill will. As exasperating as elderly parents can be, spouting off without thinking will only make them — and you — feel bad.
Merrick Surgical has always thrived itself on being a local community provider for medical, surgical, and supplies related to quality of life and improvements to health and mobility. Its footprint being in Nassau and Suffolk Counties, Long Island and the boroughs of Manhattan, Brooklyn, and Queens. Seems like a large radius of coverage but Merrick views itself as a provider to those in the New York Metropolitan areas that are seeking customer service at a whole new level that has been lost in the 21st Century.
The fact of the matter is that when it comes to hunting for medical or surgical supplies, there are many retail locations from which to choose. However, it is the customer service that sets the stores apart where the personnel must be knowledgeable and friendly. After all, when it comes to discussing personal issues that involve a deterioration of movement or health, it is not easy for customers to express freely without having a great relationship of trust with their sales person. Medical supplies in Brooklyn need the custom care that is offered in Nassau County with Merrick Surgical. They have ranked on top as Merchant of the Year for many consecutive years and continue to set themselves apart from the crowd. Just call their store and speak to their owners and managers and you will experience a high level of confidence and care that is taken with each and every conversation.
Merrick Surgical ships and delivers to your doorstep and it is worth finding the best when it comes to personnel health and well being products, particularly with the seniors in life.
Seniors and disabled people desire mobility more than anything else in life when they are injured or aging. It is this facet of human life that enables people to participate with others and feel viable again. The automobile was perhaps the greatest invention that changed human interaction more than any other in our lives. Closely akin to that is the scooters that are portable driving seats that can be driven and operated by the rider. Nassau County and Brooklyn NY has more scooters in inventory supply with Merrick Surgical, than any other surgical or medical supply in the region.
When it comes to medical or surgical supplies, does distance matter in order to get the right equipment or products to care for yourself or a loved one? Merrick Surgical has seen its consumer reach extend beyond its local Nassau County locale. With its proximity to New York City and surrounding boroughs, it has become quite evident that people are willing to travel and find the best suppliers for medical care. Merrick Surgical Supply started as a local business in Nassau County, Long Island, but has seen an upsurge in the demand for lift chairs and scooters, which are their most popular items sold.
What is the price for comfort and lifestyle when it means getting around and enjoying the conveniences that aging people must sacrifice? These devices and convenient equipment that technology continues to create, serves the aging community in ways that were only a pipe dream before. Now the reality is that mobility assistance is the key to vitality and feeling an active part of what was once enjoyed. Contact Merrick Surgical at: http://merricksurgical.com for more information about its products and services regarding medical and surgical supplies for Brooklyn and Nassau County communities.
Brooklyn once was an outer borough of NYC, however, it is now a destination that Baby Boomers and younger are flocking to as a residence of choice for New Yorkers. With the medical supply needs increasing as these generations are expanding here, the demand for custom medical and surgical supplies is increasing as well. Scooters and lift chairs in particular are being sough after for the aging population of parents of “boomers” have more live-at-home needs.
Merrick Surgical Supplies caters to improving the lives of all people that have medical and life style needs through surgical equipment and supplies that can enhance and prolong a quality of life otherwise not attainable. We are committed to working closely with you in taking care of your Mom, Dad, Grandparents, and children.