I'm not a Senior but I have to ask this.. (55, move)
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OK...i'm going to try to make a long story short..
Back in like 2000 Grandma got sick, very..very subsevient, do everything for your huband woman she was...
Grandpa..he basicly only cared about hiding his booze and doing his yard.
Grandma was just an afterthought...
About 10-15 maybe yars ago she had a masive heart attack...I think she had more veins replaced then frankenstien..
Today...she is doing Heh..Pretty much ok..
He died last year... We all loved him...but we also had a bit of Hate I guess for him...very strong word, I know..
He left her with ALOT of debt...Credit Cards..one with alot of Meds..
Alot of debt with Yard Stuff...a shed full of weed wackers, 3 ride on lawn mowers, and a full selection of cordless tools that would make a carpenter *** in his jeans.....Oh and the 3 air compressors and the 2 power washers... Mostly all gotten after he had gptten too sick to even move from the chair let alone use any of them... ON top of that...he friggin refinanced the house to pay for this stuff...there is other stuff I cant begin to name it...
Now she is alone.. I refuse to try to pay 159,000 on a house thts only worth maybe 60,000 if we are lucky...
OK...i'm going to try to make a long story short..
Back in like 2000 Grandma got sick, very..very subsevient, do everything for your huband woman she was...
Grandpa..he basicly only cared about hiding his booze and doing his yard.
Grandma was just an afterthought...
About 10-15 maybe yars ago she had a masive heart attack...I think she had more veins replaced then frankenstien..
Today...she is doing Heh..Pretty much ok..
He died last year... We all loved him...but we also had a bit of Hate I guess for him...very strong word, I know..
He left her with ALOT of debt...Credit Cards..one with alot of Meds..
Alot of debt with Yard Stuff...a shed full of weed wackers, 3 ride on lawn mowers, and a full selection of cordless tools that would make a carpenter *** in his jeans.....Oh and the 3 air compressors and the 2 power washers... Mostly all gotten after he had gptten too sick to even move from the chair let alone use any of them... ON top of that...he friggin refinanced the house to pay for this stuff...there is other stuff I cant begin to name it...
Now she is alone.. I refuse to try to pay 159,000 on a house thts only worth maybe 60,000 if we are lucky...
Is bankruptsy a smart option...
Absolutely, Granny is going to be going in a home and going on Medicaid
so she will need to spend down to qualify. Bin there dun that. Good Luck
Not enough information. Does Grandma have any assets? Is she even on the deed to the property? If so, how did Grandpa sign a note without Grandma's signature? If Grandma's signature was not on the note, it's possible the lender may need to eat the debt. This is something that only a Florida barred Estates Attorney would know. In terms of credit card debt - it's possible Grandma doesn't owe any of it. If the creditors have been calling and/or sending collection notices to Grandma, do NOT let her pay these debts until she has spoken with an attorney.
Skip the CPA. Florida has some funky laws regarding probate. BTW, if Grandma is still legally competent, she needs to be involved in decisions regarding her well being.
Skip the CPA. Florida has some funky laws regarding probate. BTW, if Grandma is still legally competent, she needs to be involved in decisions regarding her well being.
Do not skip the CPA. The CPA can recommend the appropriate attorney if you need one. An internet forum is not the place to get legal advice.
Do not skip the CPA. The CPA can recommend the appropriate attorney if you need one. An internet forum is not the place to get legal advice.
It's okay is if its good advice.
Actually, what needs to happen here Caligula is to have granny's situation worked up by a bankruptcy attorney to see if she would benefit from a filing. Call ahead and find one who will do the workup for no charge unless she files. If she should file, he/she will tell you that. If not, go to a seniors organization (we have ProSeniors here and there will be plenty of these orgs down there) and get her worked up for Medicaid eligibility. If you absolutely cannot get her Medicaid eligibility situation straightened out for free, go back to the social worker at the last nursing home she went to or the one after her surgery.
With those two pieces of info under control you will know what to do.
Absolutely, Granny is going to be going in a home and going on Medicaid
so she will need to spend down to qualify. Bin there dun that. Good Luck
Not true in FL. If Granny lives in FL, there is a homestead law that protects home and car from countable assets. OP should talk to a local elder-law attorney before doing anything.
In my Mom's case, I spoke to the attorney who did her will (elder-law and estate-planning specialist) first. She gave me a general idea of what I should do with the little money that Mom had left. I then spoke to the Social Worker at the nursing home/rehab facility where Mom had been sent after a fall. They are very knowledgeable about the rules/regs for Medicaid eligibility and other assistance programs that may be available(e.g., VA). I then worked directly with the local program coordinator for FL Medicaid, who was EXTREMELY responsive and helpful. I was completely shocked!
Last edited by Avalon08; 12-26-2011 at 09:47 PM..
Reason: added something
OK...i'm going to try to make a long story short..
Back in like 2000 Grandma got sick, very..very subsevient, do everything for your huband woman she was...
Grandpa..he basicly only cared about hiding his booze and doing his yard.
Grandma was just an afterthought...
About 10-15 maybe yars ago she had a masive heart attack...I think she had more veins replaced then frankenstien..
Today...she is doing Heh..Pretty much ok..
He died last year... We all loved him...but we also had a bit of Hate I guess for him...very strong word, I know..
He left her with ALOT of debt...Credit Cards..one with alot of Meds..
Alot of debt with Yard Stuff...a shed full of weed wackers, 3 ride on lawn mowers, and a full selection of cordless tools that would make a carpenter *** in his jeans.....Oh and the 3 air compressors and the 2 power washers... Mostly all gotten after he had gptten too sick to even move from the chair let alone use any of them... ON top of that...he friggin refinanced the house to pay for this stuff...there is other stuff I cant begin to name it...
Now she is alone.. I refuse to try to pay 159,000 on a house thts only worth maybe 60,000 if we are lucky...
Is bankruptsy a smart option...
If granny is still alive why is it your decision what to do with the house?
Not true in FL. If Granny lives in FL, there is a homestead law that protects home and car from countable assets. OP should talk to a local elder-law attorney before doing anything.
In my Mom's case, I spoke to the attorney who did her will (elder-law and estate-planning specialist) first. She gave me a general idea of what I should do with the little money that Mom had left. I then spoke to the Social Worker at the nursing home/rehab facility where Mom had been sent after a fall. They are very knowledgeable about the rules/regs for Medicaid eligibility and other assistance programs that may be available(e.g., VA). I then worked directly with the local program coordinator for FL Medicaid, who was EXTREMELY responsive and helpful. I was completely shocked!
I don't know about the Homestead exemption but she still has to spend down to have Medicaid pay for a Nursing Home. Florida Elder Care is excellent and will do a free assesssment.
...he friggin refinanced the house to pay for this stuff...there is other stuff I cant begin to name it...
If its all under both their names, then she is liable. Any credit that does not have her name on it, then she does not have to pay it.
If she has no assets (cash). Don't worry about bankruptcy at this point. Anything outside of the home will go into collections and written off. As to the home, once Medicaid is initiated a new can of worms is opened. If no caretaker has lived in the home with her for the past two years, then medicaid will put a lien on the house. Once that happens the foreclosure process is killed. Why? Because under Medicaid guidelines the home cannot be sold for less than the assessed value during the first year. During the second year it can only be discounted 25%. So is it currently sellable for what the county is assessing it for?
Quote:
I refuse to try to pay 159,000 on a house thts only worth maybe 60,000 if we are lucky...
No.
As to all the stuff: Have a garage sale or list it on craigslist.
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