Specifying Home


ESPanner's "Guide" for the "Estate" tab says the following:
"If you specify that you want to retain your home through the end of your life, the program will use the terminal home equity to cover bequest and funeral expenses of the last survivor. This is why the spending reports refer to excess funerals and bequests."
My question is where do I specify Whether or not I want the home value to be used for end-of-life expenses?
James Mavrogenis


dan royer's picture

Hi James. The only way that home value would not be used is if you choose to use first or second sale of home near the end of life and move to rent. Otherwise, home equity is left on the table.

If I understand correctly, the only way I can use the home equity to fund a bequest is to sell and rent. If I didn't want to actually sell the home the a reverse mortgage would be another way to fund a bequest.

dan royer's picture

I think I misread the question. I don't believe you can specify "whether" the home equity is used to fund a bequest--it's designed to do so. But of course if you sell the home, there will be no equity to fund that bequest.

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