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Started By
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Elder Care/Medicaid question
Posted on 3/6/24 at 11:48 am
Posted on 3/6/24 at 11:48 am
My mother is currently in a nursing home. Her medicare runs out in a few weeks and we are looking to apply to medicaid ASAP. We will be meeting with a lawyer later this week.
My parents are not super wealthy but they're not poor either. Right now they're about 90-100k over the 154k cap. We have some ideas to deal with that and I'm sure the lawyer will have plenty as well. But what really concerns me is the five year look back period. My parents have been extremely generous, not only to family members, but to charitable organizations, and I've read that everything is on the table as far as medicaid is concerned.
Examples: They've given the grandkids a hundred dollars each every month since they were born. They're all college age now. They bought them each a new laptop when they started college. When my sister flies home for a visit, they pay her air fare. I'm sure they've given away a lot I'm not even aware of. Not to mention regular donations to their church and any number of other charities.
Then there's the housekeeper, yard man, etc. A hundred here and there for work done, but it's just a check with their name on it. They can't prove they paid for work done. Is medicaid going to assume everything is an impermissible gift until proven otherwise?
How screwed are my parents by their generosity? Am I getting all worked over nothing? How fine toothed a comb is medicaid going to go over their finances with?
My parents are not super wealthy but they're not poor either. Right now they're about 90-100k over the 154k cap. We have some ideas to deal with that and I'm sure the lawyer will have plenty as well. But what really concerns me is the five year look back period. My parents have been extremely generous, not only to family members, but to charitable organizations, and I've read that everything is on the table as far as medicaid is concerned.
Examples: They've given the grandkids a hundred dollars each every month since they were born. They're all college age now. They bought them each a new laptop when they started college. When my sister flies home for a visit, they pay her air fare. I'm sure they've given away a lot I'm not even aware of. Not to mention regular donations to their church and any number of other charities.
Then there's the housekeeper, yard man, etc. A hundred here and there for work done, but it's just a check with their name on it. They can't prove they paid for work done. Is medicaid going to assume everything is an impermissible gift until proven otherwise?
How screwed are my parents by their generosity? Am I getting all worked over nothing? How fine toothed a comb is medicaid going to go over their finances with?
6
Posted on 3/6/24 at 12:36 pm to Jim Rockford
I know there's a guy who practices elder law in here. I hope he sees this.
Posted on 3/6/24 at 1:06 pm to Jim Rockford
quote:
But what really concerns me is the five year look back period.
Sorry, but that ship has sailed.
What do you mean that her Medicare runs out in a few weeks?
Posted on 3/6/24 at 4:23 pm to Jim Rockford
State? I do a lot of elder law. What you can/can't do is really state dependent.
Easiest way to protect the money here in FL would be a personal services contract. Pretty sure you can do that in LA too if they live there.
100k is very, very easy to protect.
Easiest way to protect the money here in FL would be a personal services contract. Pretty sure you can do that in LA too if they live there.
100k is very, very easy to protect.
This post was edited on 3/6/24 at 4:25 pm
Posted on 3/6/24 at 6:17 pm to Jim Rockford
Is this one of the cases where a “divorce” is financially advantageous?
Posted on 3/6/24 at 8:08 pm to Jim Rockford
Have you seen facilities that accept Medicaid patients? You need to find a way to pay for her care
Posted on 3/7/24 at 4:41 pm to Jim Rockford
Get an Elder Law/Medicaid lawyer yesterday.
Check reviews online today and tonight. Can't hurt to see what others in your area have experienced.
Then make the call. Take that step forward.
My brother and I just set up an irrevocable trust about 5 months ago with our parents. We should have done it years ago, as there's a 5 yr lookback here in Arkansas. Knock on wood, they are both in relatively good health now, but in their 70's. So, who knows what could happen, right?
Try to write down as many questions as possible and take notes when you speak to someone!
Ours cost us $10,500, as we added in some extra protection for my brother and I regarding unforeseen divorces and future lawsuits. That's something to ask about as well.
Good luck!!!!!
Check reviews online today and tonight. Can't hurt to see what others in your area have experienced.
Then make the call. Take that step forward.
My brother and I just set up an irrevocable trust about 5 months ago with our parents. We should have done it years ago, as there's a 5 yr lookback here in Arkansas. Knock on wood, they are both in relatively good health now, but in their 70's. So, who knows what could happen, right?
Try to write down as many questions as possible and take notes when you speak to someone!
Ours cost us $10,500, as we added in some extra protection for my brother and I regarding unforeseen divorces and future lawsuits. That's something to ask about as well.
Good luck!!!!!
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