Quote:
Originally Posted by retiredguy123
If you want to prepare for the possibility of needing Medicaid, you can transfer assets to your children or someone else you trust at least 5 years prior to applying for Medicaid. Then, they can use the assets to supplement your income while you are on Medicaid and in a nursing home. Assets transferred within 5 years of applying may make you ineligible for Medicaid. Most people living long term in nursing homes are on Medicaid.
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Children pauperize their parents to enable them to qualify for Medicaid, right or wrong.
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