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I don't work for anyone, but in my working life I was a lawyer. One of the firms I worked for had a practice in estate planning and Medicaid planning, but I would never become involved in it. I was always opposed to sheltering assets, especially in order to become eligible for government support.
If a person can pay for their own living needs and still leave assets to their family, I think that's fine. If they want to give away assets and then have the government pay for them, I think that's wrong, whether it's legal or not.
- So if one knows how to it is legal for their children to have your assets.
Good. Because why should those who have paid big Taxes all their lives not be able to leave their children anything!
Heaven forbid they expect to be entitled to the same thing they provide for others!
And neither am I doing anything illegal or immoral here.
Last edited by RevelationWriter; 01-30-2014 at 04:29 PM..
- Now back to some more things you may want to know...
Another thing I was ignorant about that nursing home don't want you to know about?
Is that no one's family is responsible for
seeing that nursing homes or any other institution gets paid for their services from your loved one's accounts.
That's right. You don't have to do their job for them.
They have staff and offices to track down all monies to pay themselves!
They do it everyday!
How do you think they get their money when a person of money, has no family to be responsible to paying them?
They find out all about the person's money and pay themselves, of course!
They have attorneys, and staff and offices.
I ran my self almost crazy making sure everyone got paid. And doing all the record keeping too;
because I made myself responsible! They didn't. But they made it sound like I had to! And not them!
WHEN IT WAS NOT MY RESPONSIBALITY ! IT WAS THEIR'S!
It's why they have a job there! It's why they have offices and attorneys.
But when they can make you feel like you have to do it? They Don't Have To Do Their Job That Their Qualified For Which They Get Paid For!!
And, not only that but I was Legally Responsible to the Court for doing Their Job.
If I made a mistake with dad's money? I HAD TO PAY FOR IT!
I was so scared I would make a mistake that the pressure was horrid for four years!
So guess what? I told my son not to be responsible for my money to them.
They would see to it that they got themselves paid!
And my son can spend more time with me while they do their own job of tracking down my money to pay themselves.
Just like they do for all those who have money, but no family.
Last edited by RevelationWriter; 01-30-2014 at 04:16 PM..
One thing you need to realize is that whatever monies are being recovered are no more than what was paid out.
If assets exceed funds paid out by Medicaid, they will go to the heirs.
All it ends up being is that a person pays for their own care, quite the same as they probably did their whole life.
Which is as it should be.
If you want to calm down and think about it......would you think it right for your parent to give everything he had to you and then went to live in a hotel without paying the bill, expecting that all the other guests there should kick in to pay it for him?
One thing you need to realize is that whatever monies are being recovered are no more than what was paid out.
If assets exceed funds paid out by Medicaid, they will go to the heirs.
All it ends up being is that a person pays for their own care, quite the same as they probably did their whole life.
Which is as it should be.
If you want to calm down and think about it......would you think it right for your parent to give everything he had to you and then went to live in a hotel without paying the bill, expecting that all the other guests there should kick in to pay it for him?
- You are high-Jacking this topic. Start your own.
This is for families to know about Legal choices they have before it's not Legal to do so anymore.
- Now back to some more things you may want to know...
Another thing I was ignorant about that nursing home don't want you to know about?
Is that no one's family is responsible for
seeing that nursing homes or any other institution gets paid for their services from your loved one's accounts.
That's right. You don't have to do their job for them.
They have staff and offices to track down all monies to pay themselves!
They do it everyday!
How do you think they get their money when a person of money, has no family to be responsible to paying them?
They find out all about the person's money and pay themselves, of course!
They have attorneys, and staff and offices.
I ran my self almost crazy making sure everyone got paid. And doing all the record keeping too;
because I made myself responsible! They didn't. But they made it sound like I had to! And not them!
WHEN IT WAS NOT MY RESPONSIBALITY ! IT WAS THEIR'S!
It's why they have a job there! It's why they have offices and attorneys.
But when they can make you feel like you have to do it? They Don't Have To Do Their Job That Their Qualified For Which They Get Paid For!!
And, not only that but I was Legally Responsible to the Court for doing Their Job.
If I made a mistake with dad's money? I HAD TO PAY FOR IT!
I was so scared I would make a mistake that the pressure was horrid for four years!
So guess what? I told my son not to be responsible for my money to them.
They would see to it that they got themselves paid!
And my son can spend more time with me while they do their own job of tracking down my money to pay themselves.
Just like they do for all those who have money, but no family.
~ This Is Such An Important Issue Right Here!
It will save you so much TIME out of your own life, and Headaches,
AT THE EXPENSE OF YOUR OWN MOENY TO DO IT ALL! When you don't have to!!!
I hate to break it to the OP, but I'll bet nearly everyone knows that they ( nursing home /Medicaid ) can go back 5 years if a person attempts to go on welfare while in the nursing home.
Why should I, taxpayer Teddy, pay for someone who gave his money away to his kids.
I see nothing wrong with what the nursing home/ Medicaid is doing !
I agree.
Quote:
Originally Posted by Teddy52
I hate to break it to the OP, but I'll bet nearly everyone knows that they ( nursing home /Medicaid ) can go back 5 years if a person attempts to go on welfare while in the nursing home.
Certainly nothing new.
Been that way for a few years now.
My aunt went into assisted living this summer and I was discussing it with my children who are 26 and 31 years old. Neither of them ever knew anyone before who was in a nursing home and both of them were well aware of the "Five year financial look-back" as it come up in our discussion. I was sort of surprised and my son said , "Mom, that is common knowledge, everybody who reads a newspaper or listens to the news knows that".
I don't know that the a nursing home can claim the insurance policies, that doesn't sound correct to me, but I'm by no means an expert on this subject.
As far as 5 years - that may have to do with the "medicaid" look back period - which is 5 years. So if someone outlived their money in a nursing home, they would apply for medicaid. Medicaid would look back over the past 5 years and recover any money that had been gifted/given away. So yes - if your loved one was giving you money, medicaid could come looking for it.
Typically its not the nursing home doing this directly, but medicaid doing it.
One of the reason why institutional care requires a ton of financial planning.
Briolat is correct. You are confusing state policies with what the nursing home or assisted care facilities do. The reason for this is obvious. People were hiding assets before having grandma or grandpa qualified for Medicaid. So the laws were changes.
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