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Reply to "Dealing with $$ and aging parent - when to tap investments? "
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[quote=Anonymous][quote=Anonymous]Agree with PP. If she is going to run out of money, then better that she do it sooner rather than later so she can qualify for medicaid ASAP if she needs it. Save your money now and you can help her out later with extras. But you might just be staving off the inevitable by helping her now, and could mean huge expenses later if she needs to wait to qualify for medicaid.[/quote] I agree and would only add that if she goes into a nursing home as a paying resident now, if she spends down all her money then as a resident in place, she will have first claim to any Medicaid beds that come open at that time.[/quote]
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