What is the name of your state (only U.S. law)? Iowa
My mother was recently admitted to a skilled nursing care home where she will continue living after the 90 days allowed by Medicare. We are looking into her assets, primarily car and house, and would like to keep both in the family. My question is can I purchase these at a fair market price, deposit the funds in her checking/saving account, and use these to pay her nursing home costs? Does the 5-years-back law only become an issue if she applies for Medicaid? She has alzeheimers, and my brother and I both have power of attorney. Please advise.
My mother was recently admitted to a skilled nursing care home where she will continue living after the 90 days allowed by Medicare. We are looking into her assets, primarily car and house, and would like to keep both in the family. My question is can I purchase these at a fair market price, deposit the funds in her checking/saving account, and use these to pay her nursing home costs? Does the 5-years-back law only become an issue if she applies for Medicaid? She has alzeheimers, and my brother and I both have power of attorney. Please advise.