[Corin Stormhands]

It’s a sad situation. But nursing home care is expensive. They can apply for Medicaid, but their resources will be considered first.

It’s probably too late for your friend, but I’ve advised folks to deed their home to the children and retain a lifetime residence. That way, when the time comes, it can’t be counted as your resource because you no longer own it.

[Chickensoup]

For 9000 per month, he can pay his children to care for them both until their assets run out.

[mojo114]

Prayers for your elderly friends. Today everyone has to be aware of the laws and,
unfortunately, inorder to apply for medicaid (gov’t programs) they must have rid themselves of any assets many year’s before they were ill.
We had the same problem with parents and caught the law 8 years before one became ill so we were successful in finding the loophole in the law. It is a very sorry position for the elderly and those that love them.
Democrats will surely change the law loophole if they gain complete power.

[purpleraine]

It's a good idea.

People should make themselves aware of the unified gift and estate tax credit at the IRS web site.

Also, they need to know there's a five-year look-back at assets which have been "dumped" to avoid the spend-down requirement.

[Auntie Mame]

There’s an excellent book on this subject, “Saving Mom & Dad ... and You”

http://www.savingmomanddad.com/

[Kozak]

It’s probably too late for your friend, but I’ve advised folks to deed their home to the children and retain a lifetime residence. That way, when the time comes, it can’t be counted as your resource because you no longer own it.

First of all it's fraud, and the government will go after you if they suspect it was done to qualify for Medicaid.

Second why should the REST OF US pay for someones nursing home costs while their kids benefit by getting their home? How is that moral?

[Conservativegreatgrandma]

It’s probably too late for your friend, but I’ve advised folks to deed their home to the children and retain a lifetime residence. That way, when the time comes, it can’t be counted as your resource because you no longer own it.

I have a real problem with that morally. That is stealing. Why should taxpayers pay to keep someone in a nursing home after that person's assets have been given to their children?

My mom is in a nursing home and we are doing everything to stretch her assets. Costs are out of control and one of the reasons why is that there are so many patients there on Title 19, and the state does not pay a sufficient rate to really cover the cost so someone has to make up the deficit and that person is the private-pay person. This is unfair.