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Reply to "What is your plan to take care of elderly parents?"
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[quote=Anonymous][quote=Anonymous]Medicaid. DH's parents only have $250K in savings despite two solidly middle class careers. Vacations, excessive shopping, lavish dinners out, luxuary cars, two homes, a boat, etc. Live paycheck to paycheck. Did not pay anything towards college for DH - which is fine and he has done well arguably becuase of the struggle, but illustrates their spending habits. We have a child with severe medical needs and I had to leave my job to deal with therapies, surgeries, hospitalizations, etc. I refuse to help financially given that they squandered and flittered away two good salaries. They are both not doing well medically and have moved in with DH's grandma. (She is 90!!!) I have heard about Elder Care laws and how some states (PA, maybe others?) are trying to go after children to pay nursing home costs. I cannot imagine any judge would say we should pay for the care of two people we have no control over and did almost nothing to save for their own care. My situation could easily be the poster child for why these "laws" are unconstitutional and immoral. [/quote] My DH's parents are EXTREMELY financially irresponsible and have debt and no savings; despite a significant inheritance several years ago and a home that should be fully paid off, but was mortgaged to the hilt that they are now underwater on. Both are able bodied and do not work. Not sure what their plan is, but I can confirm it does not involve money coming from me. We will do everything in their power to make sure they have food, shelter and the necessities, but the extravagances that they feel they "deserve" are simply not going to happen on my dime.[/quote]
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