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Expense Amount
Assisted living $3,600
Health insurance supplement 150
Pharmacy 200
Miscellaneous medical 100
Great Western loan 2,000
Union Bank line of credit 750
Flood and liability insurance 350
Property taxes 1,000
Storage 150
Phone and miscellaneous 50
Total 8,350
After Spindrift was formed and the Padaro Lane property was
transferred to the partnership, decedent no longer received the
rent from the property and her income was reduced to $5,800
($9,300 - $3,500). Her expenses were reduced by the property
taxes and insurance to $7,000 ($8,350 - $1,350), creating a
shortfall of $1,200 ($5,800 - $7,000).
After the Padaro Lane property was transferred to the
partnership, the partnership paid the $2,000 monthly payment on
the Great Western Bank loan.
The $1,500 monthly benefit under decedent’s AARP/Prudential
residential care insurance policy expired in August 1995, and
decedent’s income was reduced to $4,300 ($5,800 - $1,500),
creating a shortfall of $2,700 ($4,300 - $7,000). The $2,100
monthly benefit under the Fireman’s Fund/American Express policy
expired in August 1996, and decedent’s income was reduced to
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