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Reply to "Reverse mortgage? Or other options for FIL who is broke and terminally ill?"
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[quote=Anonymous]Talk to a good planner and the oncology social worker. Another thing to consider is that if he goes into long term care, he is better off spending down his assets to $2k to qualify for Medicaid. If he gets the reverse mortgage, he would have to run through all that money and wait 3 months for application etc and could potentially have to switch facilities or incur big bills in the interim. It might not be the best thing for him either. Now Medicare will pay for hospice and you may be able to get some home hospice support and meal/transportation assistance--you may have other options besides simply giving him money.[/quote]
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