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Eldercare
Reply to "I didn't fully comprehend the cost of eldercare"
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[quote=Anonymous][quote=Anonymous]What do most people spend on their parents? My in-laws literally have nothing saved. They are living off Social Security, and we supplement them. And they are divorced. So I am afraid of what the next 15 years will look like. [/quote] If they need care and have no/minimal assets, then this is a Medicaid situation. If either have a house and don't have a spouse, then the house can be sold for care. If they go into a private pay nursing home, there are a good many that will then take Medicaid payments for the remaining time. But you have to get the person into the private pay situation first. Private pay will look at the person's assets, determine how much they have compared to how long they think they'll live. And do not sign anything that says you will be responsible for paying for anything.[/quote]
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