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- Should a parent out-live all their monies while in the nursing home?
The nursing home then has the legal right to go back 5 years into your family's history records and recover any gifts of money or valuables which the parents may have given their children.
If there's a money trail to their children. Or if children go to court as witnesses against each other.
My dad always gave me gifts of money. He always wrote out to me from his checking account.
So when the nursing home told me this? I was shocked!
And thinking back 5 years on the $23,000.00 he had given me?
If dad had out lived his money in the nursing home? And they needed more?
I would've had to pay the nursing home the $23,000.00 of my-gift money back to them!
- Not only that, but this also means the nursing home has the legal right to any Insurance Policies too!
Yeap, that's right. If a parent out-lives all other money and assets?
The nursing home becomes the new beneficiary of all the Insurance Policies too!
I almost cried when I was informed of this.
Yes, the nursing home is not The Care Givers, they are The Care-Takers.
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.
I was told it was the nursing home that would have it.
The nursing home was the one I had to give all dad's information to.
They even questioned me about who was living in his house and if I was renting it out.
When I told them no one was living in his house and I'm not renting it out.
They questioned me even about if I still had the utilities on.
- The nursing home told me dad's Insurance Policies would go to them.
Not to Medicaid.
So if it was a different rout I was not told.
When they talk to me about getting everything they spoke as the enforcers.
Not Medicaid. But at that point what would it matter anyway?
There are a lot of things that are not known till maybe it's too late.
But maybe that's the way they want it anyway.
Which is the purpose for this topic.
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.
- My dad paid a lot of Taxes even all through the last 4 years of his life in the nursing home.
Because I'm the one who had to make sure his Taxes were paid!!!
You don't think he should be able to recoup a few years of care from what he paid in?
You think he should pay for himself. And for those who didn't work.
Those who didn't work to take care of themselves should be taken care of by people like my dad.
While his child gets nothing he worked for? Great plan. Thanks for nothing.
Last edited by RevelationWriter; 01-30-2014 at 03:08 PM..
Why don't you people start your own Topic for defending institutions.
And not families.
You are high jacking my topic to help families keep hard earned gifts from their parents and family heirlooms.
Last edited by RevelationWriter; 01-30-2014 at 03:16 PM..
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