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Thread: Long term care
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Old 01-04-2025, 02:19 PM
CoachKandSportsguy CoachKandSportsguy is offline
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Quote:
Originally Posted by Inspector Mark View Post
When my patents were both alive my dad needed to move full time in a memory clinic. We worked with an elder care attorney to figure this exact thing out. The result was that they took the value of my parents retirement and investments as of the last day he spent in their own home and said half is mom's and half is dad's. Next they said my mom is entitled to maintain here current standard of living so she could keep the home and certain only money from my dad's half of the retirement and investments. That left Dad with about a quarter of the money.

Before dad could qualify for medicaid he needed to spend that money. Then he would be broke and qualify for medicaid.

This was all done 6 years ago, so fairly recent info.

I think the 5 year look back comes into play if there is not a surviving spouse
and then what happens if the sole surviving spouse has to go into memory care?