Reply to Paying for assisted living, can relative keep their house?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]That is fraud.  If you have assets, you use them to pay.  You cannot gift them to family, you cannot hide them.  They pay attention to these things and will come after people - happened to a relative of mine when she was gifted funds by her elderly parents.  She had to pay the money back.  I now have 2 elderly aunts in assisted living in NY, they are probably the only full payers in the place.  They would love to gift some of their savings to their great grand nieces, but cannot as it is fraud if its more then a few hundred bucks.  [/quote]

My grandmother worked it out to keep the house before going to assisted living. An attorney helped and we had to do a couple stupid formalities like put her "life estate" up for sale in order to appease the state Medicaid collectors. It's not fraud if an attorney helps you and the state doesn't come after you, right? [/quote]

If she only had a life estate in the house, it sounds as though she didn’t own it anymore. Had it already been sold or given to another family member?
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You don't need a life estate.  Read the rules in your state.  They allow the remaining spouse to stay in the house and keep a specific amount of assets and income.  They put a lien on the house to pay for the care once the spouse passes.[/quote]

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