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Eldercare - multiple questions

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Ricksradvice

Junior Member
What is the name of your state (only U.S. law)? Michigan

Two seniors, both in their nineties. One child, sole heir, has POA for each. Each has been declared unable to make their own decisions. Mother was declared two years ago, POA to husband, who then revoked his power so daughter's kicked in. Father gave daughter POA voluntarily two years ago, then was declared unable to make his own decisions this year. Multiple doctors have documented for us, so no issues.

1) They own a home (no mortgage), which daughter will inherit. She is NOT on the deed. Should she take steps to put herself on the deed, or is there no reason to do that? She does

2) They are both now in assisted living, using their savings which are enough at the current rate for 3 - 5 years (depending on investment returns). If care requirements increase, cost will and so will usage of their funds. It is our understanding that they do not qualify for any assistance due to level of assets.

3) Father qualifies for the VA Aid and Attendance and Housebound Improved Pension WHEN his assets drop to around $80,000. We assume that is for his HALF of the assets, is that correct?

4) They haven't resided in their home for nearly 3 years, and now officially it is not their primary residence (Michigan has an "intent to return" clause in their declaration of primary residence rules, and the father "intended to return" until earlier this year when he moved from independent living to assisted living, and we finally notified the township that it was no longer their primary residence (he also had transferred his voter registration unknown to us). Does this home get counted by the VA (and anyone else) when determining their level of assets to qualify for benefits?

5) Daughter is considering modifying their former residence, but won't do so if that means it might have to be sold and we would lose our investment in the alterations. Should she consider transferring it to herself (and me), removing her parents from the deed? Or would we want to get an independent appraisal and commit that amount for their care to then take full title? We don't want to trigger undue property tax assessments on a higher value that might not be triggered with an inheritance. Nor do we want to improve the property and have the enhanced value counted against them for aid.

Thank you in advance for your help.
 



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