By Admin on Aug 30, 2010 in Financial Services
are the caregiving son/brother who has been a caregiver since 2005, literally have broken my back lifting my now deceased, 86 yr old, wheel chair bound, dialysis patient father around. I have no money, i am disabled from the back injury, on Medicaid, and I need to be set free.
How do I ,even though I am willed 3/4 of the remaining assets, stop Medicaid from chewing up the money when I call it quits and am forced to put both mother and sister into a nursing home?
Yes it is mom’s reverse mortgage and there is still 0,000.00 in a line of credit. Isn’t there a provision that Medicaid cannot lien a home that harbors a disabled child/person? If so how does this apply to my situation or how do I make it apply for my sisters sake? Hate to see that go to a spend down when she and or myself could use that money in the future.I hope I do not sound cold-hearted-I am really truly very concerned for the future considering I am 49, disabled and probably will not be able to make it back into the workforce again. EVER!
Hi, I don’t know if this will help but I think you should consider doing the following: consider contacting a probate attorney. I know it sounds far fetched but ask him or her what would happen to your mothers estate if she should pass. As for the reverse mortgage I know that when mom passes own you or whom ever is incharge of the estate will have to refinance out of the reverse mortgage or sell the property and you will be given a grace period in which to do so at that time the money that has been used will be paid off with interest. you might consider talking with mom having her take out some of the money invest it else where maybe a trust fund, Insurance or something for you and your sister since she is also disabled. Make sure that if you are in the state of California your mother has the property willed to you via a Living Trust *** Not just a Will because a Will – will send you straight to probate court. You should have one done as well if the estate is over a certain amount.
Babe | Aug 30, 2010 | Reply
you may be able to get b etter answers in teh people with disabilities section–under cultures and groups…
you are on medicaid, not medicare? I am guessing you can’t have too much in assets so teh property can’t be transferred to you…
i have heard that medicarfe will go after any assets a person had in the last 2 years
justmeinthisworld | Aug 30, 2010 | Reply