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Posted: 12/25/2020 6:17:07 PM EDT
Father passed away a few years ago. Mother just had a couple strokes and will probably not last a year but will require care in a facility.

Older sis has POA and we are going to see our parents financial advisor next week.

I don't know much about all this but from what I have gathered from others in a similar situation is that you want Medicare to shoulder as much of the medical treatment as you can and disperse as much of your parents accounts as you can so the state and feds don't get their mits on it.

Any legal insight much appreciated.



Link Posted: 12/25/2020 6:24:51 PM EDT
[#1]
What you are asking about isn't going to be answered adequately on a public forum.  Hire a local lawyer with a lot of experience in this stuff is the best advice you are going to get.
Tough situation, hope it works out.  Honestly though I would start preparing for answers you don't want to hear.

__________________________


In broad strokes I can tell you that generally Medicare doesn't pay for long term care.  It will pay for a short stay in a facility for rehab purposes.  Beyond that you are depending on Medicaid.....which is for people who are already broke.  How broke is "broke" depends on state law.  It's not like you're the first family to think about making sure mom doesn't have any assets _after_ she gets sick, and mostly the regs are going to prevent you from doing that and then relying on aid meant for people who don't have money.  The details vary from state to state, and as I said you need a local estate planning attorney that knows the ins and outs.
Link Posted: 12/25/2020 6:54:12 PM EDT
[#2]
Quoted:
Father passed away a few years ago. Mother just had a couple strokes and will probably not last a year but will require care in a facility.

Older sis has POA and we are going to see our parents financial advisor next week.

I don't know much about all this but from what I have gathered from others in a similar situation is that you want Medicare to shoulder as much of the medical treatment as you can and disperse as much of your parents accounts as you can so the state and feds don't get their mits on it.

Any legal insight much appreciated.
View Quote


Medicaid is the program that helps with long term institutional care; not Medicare. At least that’s how it works in my AO.  Hire an elder care attorney to help navigate the waters of qualifying.  Lots of details and easy to screw things up if you don’t.  Did this several years ago for my dad and had to get both durable POA and medical POA (you need both types).  5 years of past financials will have to be provided and explained as they assess the ability to pay and how much medicaid will cover.  The administrators of the facility you choose often can refer you to the experts who will guide you through the process.  

ETA:   It’s not an issue of parents being “broke” to get Medicaid; rather its an assessment of their financial conditions considering income and expenses and a determination of when and how much aid Medicaid will contribute.  
Link Posted: 12/25/2020 10:45:23 PM EDT
[#3]
Quoted:
I don't know much about all this but from what I have gathered from others in a similar situation is that you want Medicare to shoulder as much of the medical treatment as you can and disperse as much of your parents accounts as you can so the state and feds don't get their mits on it.
View Quote

The time for your mother to have done this type of end of life planning was when your father passed away.  There is a five year lookback of financials and large transfers of assets from her accounts will be intensely scrutinized.  The government will either attempt to claw them back or will delay when your mother is eligible to receive Medicaid.

https://www.forbes.com/sites/markeghrari/2014/08/01/the-medicaid-look-back-period-explained/?sh=2f495c451364

https://www.forbes.com/sites/markeghrari/2014/08/08/the-medicaid-penalty-period-explained/?sh=1bec2d5e2ee4
Link Posted: 12/26/2020 10:21:42 AM EDT
[#4]
Thanks for the responses.

Link Posted: 12/26/2020 10:24:37 AM EDT
[#5]
Hire a lawyer.   Medicare has a look back of 5 years.  So, if you distribute her assets today and home her tomorrow they will still consider those assets.
Link Posted: 12/26/2020 10:51:36 AM EDT
[#6]
We paid cash for long term care for my grandfather to protect his estate.
He died 3 month before it would be paid for by the tax payers.
Link Posted: 1/15/2021 6:54:23 PM EDT
[#7]
You need an attorney specializing in elder law with a spend down plan specialty.
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