How to get live in help with money in funds?

[joelcoqui]

What is the name of your state (only U.S. law)? NY
My widowed mom has a living trust and will not give up her home... she can stay in it as long as she wants. She may be in the need of home help in the near future. She has bank accounts and mutual funds that are joint. My name and her name. Is she eligible for medicaid or does home care have to come out of our accounts. This money that she and I worked for after my Dad passed 30 years ago. Can this money be gifted to grandchildren to avoid this. I certainly cant pay out of pocket.

 

[Ohiogal]

What is the name of your state (only U.S. law)? NY
My widowed mom has a living trust and will not give up her home... she can stay in it as long as she wants. She may be in the need of home help in the near future. She has bank accounts and mutual funds that are joint. My name and her name. Is she eligible for medicaid or does home care have to come out of our accounts. This money that she and I worked for after my Dad passed 30 years ago. Can this money be gifted to grandchildren to avoid this. I certainly cant pay out of pocket.

Medicaid has a five year look back so gifting it is not going to solve anything. Why shouldn't she have to provide for her in home help?

 

[Antigone*]

What is the name of your state (only U.S. law)? NY
My widowed mom has a living trust and will not give up her home... she can stay in it as long as she wants. She may be in the need of home help in the near future. She has bank accounts and mutual funds that are joint. My name and her name. Is she eligible for medicaid or does home care have to come out of our accounts. This money that she and I worked for after my Dad passed 30 years ago. Can this money be gifted to grandchildren to avoid this. I certainly cant pay out of pocket.

You certainly shouldn't have to pay out of pocket for her care, but she certainly should. It appears that she has assets, she should use them for her care.

 

[Ohiogal]

You certainly shouldn't have to pay out of pocket for her care, but she certainly should. It appears that she has assets, she should use them for her care.

OP's other thread is interesting. Mom wants to buy a SECOND home to to live in without selling her first residence. She has over $300k in funds -- HER funds and NOT OP's per the other thread. And yet she receives only $160 in SS per month. She needs live in help but doesn't want to remain in her home which is in a trust for her daughters.. I see issues.

 

[tranquility]

Which is why the OP should keep all his questions in the same thread.

 

[joelcoqui]

Jeez, She wont let go of husbands hard earned money. Keeps asking me, the daughter to protect her assets...so here I am investigating a lost cause. Yes, looks like she wants to cheat the system. Claims all her friends did so and Im not helping her do the same. Thanks for your honesty everyone. I have to get a good honest lawyer.. she isnt willing to pay for that....it all comes down to money. much appreciated. Jo

 

[Ohiogal]

Jeez, She wont let go of husbands hard earned money. Keeps asking me, the daughter to protect her assets...so here I am investigating a lost cause. Yes, looks like she wants to cheat the system. Claims all her friends did so and Im not helping her do the same. Thanks for your honesty everyone. I have to get a good honest lawyer.. she isnt willing to pay for that....it all comes down to money. much appreciated. Jo

It doesn't just LOOK like she wants to cheat the system -- it appears that that is her complete plan. Why should the world support your mother when she has 300k of her own money?

 

[Gail in Georgia]

So...mom will do nothing in terms of getting relatively inexpensive in-home assistance (typically $12-$15 an hour) until she falls or becomes quite ill, can no longer can reside on her own, requires nursing home placement and, despite attempting to hide her assets, will end up paying at least 4-5K a month for the cost of this.

Happens ALL the time with the elderly. I work in health care and see families try this ALL the time. Penny wise, dollar foolish. No one beats the system. No one.

Far cheaper to invest in some of the MANY in-home care programs available to keep the elderly in the home setting as long as possible.

Gail

 

[commentator]

It forever amazes me that these little old salt of the earth, welfare hating, church going folks think NOTHING of trying to cheat the system and get on Medicaid while they still have assets that should legitimately be used for their care. This woman has mutual funds, she has real estate, and she wants to sneak it out and give it to the grandchildren so she'll qualify for health care. Of course it won't work, they do go back five years and disqualify. But my question is, what did they think this money was for, if not to care for them in their old age?

I agree with Gail, a good assisted living facility or using homecare to keep her at home with her paying for it, NOT her daughter is the way to go here. Daughter is letting herself be bullied by a mother who has controlled her financially and emotionally who insists on what SHE wants done, her way. All her friends may have given their money to the other family members more than 5 years before they became ill, that would work. But nobody beats the system, ultimately. They will know about every cent she has anywhere, and will not give her medicaid unless she qualifies legitimately.