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Reply to "How do families pay for aging parents? "
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[quote=Anonymous][quote=Anonymous]someone asked about home equity. In VA and - I believe - a lot of other states home equity isn't a factor for eligibility (perhaps there's a threshold?). But the state will come after that equity after the medicaid beneficiary dies.[/quote] I'm not familiar with this. My dad went into a SNF first after a fall and rehab was unsuccessful. We had to spend down the assets and my mom was able to remain in the home as as the "community spouse." Once our mom moved into a SNF, we spent down the remaining assets and put the house on the market. We were lucky - the housing market had been in a prolonged downturn after the 2008 financial crisis. It had just started to pick up about six months earlier, however, and it was in an area where young parents were looking for homes. We then spent those assets down and began the Medicaid application in the waning months. [/quote]
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