Continuing Care Retirement Communities are a long term care option that may be especially appropriate for an elderly couple with varying health care needs. These facilities provide various care levels and, for example, can provide a stimulating environment for a younger healthy wife while at the same time providing skilled care for an elderly husband with significant health challenges, allowing the couple to continue living together as their health requirements change.
These communities often require expensive upfront payments, but also may offer federal tax benefits – an added attraction for financially savvy elders.
A fellow member of the National Academy of Elder Law attorneys is quoted in the Chicago Tribune article linked below, describing Continuing Care Retirement Communities and potential tax benefits.
http://www.chicagotribune.com/suburbs/advertising/primetime/ct-ss-pt-to-tap-federal-tax-benefits-of-ccrcs-see-cpa-20160915dto-story.html