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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It boggles my mind that people want to protect their parents' assets and condemn them to a Medicaid nursing home (if they qualify) rather than use their assets to have a decent end of life.

I get someone being forced into a Medicaid nursing home if they have no money, but that kids want to preserve the money for themselves truly astounds me at the selfishness.[/quote]

You don't get it. To qualify, the seniors in question are REQUIRED to spend down their assets. So the first few years they're paying, and then when they can't pay, they're allowed to stay thanks to Medicaid.

Unless you come up with a sneaky plan YEARS IN ADVANCE - because the nursing homes check prior assets several years back! - you cannot transfer wealth to relatives to avoid spending down assets.

[/quote]

I know exactly what I'm talking about. And you clearly didn't read some of the PPs' solutions. "Protect the parents' assets so they will qualify for a Medicaid nursing home."  Yes, they must be "guessing" when their parents will die, taking away their parents' assets at least 5 years in advance. (And none of us have a crystal ball.) And they do this so they will get the money and the parent will die in a terrible nursing home.

If, as you say, the parent maintains their assets, they frequently (but not always) can find a better skilled nursing facility that will spend down the person's assets and THEN accept Medicaid. Many times, these better facilities will make their decision based on how much they potentially will make before having to accept Medicaid.

These are two different routes. One is honest and has greater potential to be better, while the other is elder abuse, IMO, at the very least.[/quote]

Dp. Why not trust each other and do the following:
-parent transfers the assets
-[b]when the time comes, child puts parent in a decent facility paying out of those assets for a bit and then the parent stays using Medicaid?[/b][b] [/quote]

Because it doesn't work that way. If you now have the assets, then they are your assets and you are agreeing to pay for parent in the skilled nursing facility. Then you will be on the hook until the parent dies. You can't say, I'll pay X amount of "my money" then stop. Many states have laws on the books that already require offspring to pay. But rarely, if ever, do states enforce this. But it's one of the reasons why you should never be a cosigner for a parent at any level of care facility.[/quote]

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