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Eldercare
Reply to "MIL Savings and Medicaid"
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[quote=Anonymous]It is $30,000 in savings you are talking about? This simply isn't a significant "estate" you need to worry about protecting. https://www.medicaidplanningassistance.org/question/paying-rent-to-in-laws-violate-medicaid-look-back/ You are allowed to collect rent from your mother in law. Just have a rental agreement and charge a realistic amount for your area. Gather proof of what similar rentals in your area are going for so you can document it, and to be safe just charge on the lower side of market rate. (You could even advertise it for a month or so as proof that you had people interested at that amount.) I would have your MIL spend down her savings gradually by assisting in paying for family groceries, necessary household items, and household repairs if she is eating with you, using items in the home, and using the appliances. Have her pay for the gas for errands she needs to have run. She can also use her savings to buy a car that she will drive if she still drives and that the family can also use if need be. [/quote]
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