POA, Life Estate

[lsh220]

What is the name of your state?What is the name of your state?
North Carolina
My mother deeded her house/property to her three children, but retained life estate. She is now in an assisted living facility, with worsening dementia/alzheimers. She will never be able to return to her home. In about a year her money will run out due to the costs of her current care. I have POA and am wondering if we can sell her house/property to use the money to continue to keep her in same facility she is in now. I understand she could qualify for Medicaid and keep her house, but she would still have the upkeep on her house as well as taxes. I also understand that some facilities do not accept medicaid patients and therefore we will be limited as to the facility that will accept/keep her. By selling her house we would be able to continue to see that she gets the best care available.

 

[violas]

I would keep the house pay the taxes and find a facility that will accept medicaid. People can live a long time with Alzheimer's and she will probably run out of money eventually anyway. I'm sure she would like to leave something for her children instead of giving all of her money to some nursing facility.

 

[I AM ALWAYS LIABLE]

What is the name of your state?What is the name of your state?
North Carolina
My mother deeded her house/property to her three children, but retained life estate. She is now in an assisted living facility, with worsening dementia/alzheimers. She will never be able to return to her home. In about a year her money will run out due to the costs of her current care. I have POA and am wondering if we can sell her house/property to use the money to continue to keep her in same facility she is in now. I understand she could qualify for Medicaid and keep her house, but she would still have the upkeep on her house as well as taxes. I also understand that some facilities do not accept medicaid patients and therefore we will be limited as to the facility that will accept/keep her. By selling her house we would be able to continue to see that she gets the best care available.

My response:

Does the POA give you financial control? If so, sell the house.

IAAL

 

[I AM ALWAYS LIABLE]

I would keep the house pay the taxes and find a facility that will accept medicaid. People can live a long time with Alzheimer's and she will probably run out of money eventually anyway. I'm sure she would like to leave something for her children instead of giving all of her money to some nursing facility.

My response:

Good advice. There's nothing like one of those stinky Medi-Care dumps to place Mom in her final years. Who cares? She's old, and you won't have to visit - - maybe 2 or 3 times before the old hag just "throws in the towel."

Keep as much money as you can. Good suggestion!

IAAL

 

[violas]

I've worked in many nursing homes. Guess what? The nurses don't care what kind of insurance Mom has. They get the same care as the person with the good insurance. What is the sense of working so hard all of your life and then end up giving all your money to a nursing home. I've worked hard all my life. My children are going to get my house and my money not some nursing home.

 

[I AM ALWAYS LIABLE]

I've worked in many nursing homes. Guess what? The nurses don't care what kind of insurance Mom has. They get the same care as the person with the good insurance. What is the sense of working so hard all of your life and then end up giving all your money to a nursing home. I've worked hard all my life. My children are going to get my house and my money not some nursing home.

My response:

You see, here's the difference - -

You're the only one that mentioned "nursing home." The writer mentioned "She is now in an assisted living facility". The difference being, one is for dying, and the other is for living in comfort, while still ambulatory. One costs $1,000.00 / month, and the other costs upwards of $3,500.00 /month. One has nurses that feed you through a tube while you just lay there with your mouth dribbling, and the other has a cafeteria, shuffleboard, card tables, and the rooms that look very much like a home. One stinks to holy hell, and the other smells decent.

Now, where did you want to place YOUR aging mother?

IAAL

 

[lsh220]

Thanks for all the replies. The decision has been made to sell the house to pay for our mother's care, IF we can legally do so since the "life estate" is on the deed. Our concern is that we could not sell the house as long as our mother is living.

 

[I AM ALWAYS LIABLE]

Thanks for all the replies. The decision has been made to sell the house to pay for our mother's care, IF we can legally do so since the "life estate" is on the deed. Our concern is that we could not sell the house as long as our mother is living.

My response:

That's a good point. Get her doctor to write a short letter giving his professional opinion concerning her diagnosis, prognosis, and that it is his opinion that she cannot, and will no longer, recuperate and become self-sufficient.

That way, the Life Estate can be released due to it's "impossibility of performance", thus releasing the buyer, and all of you, from any liability to Momma for the Life Estate.

IAAL

 

[violas]

Ish220 has decided to sell the house. That's fine. I wish Ish220 the best of luck. I just wanted to tell people about my experience working as a nurse at an assisted living facility also. We had a lady with private insurance for many years. She ran out of money. She then went on medicaid. She then kept the same identical private room and received the same care as before.As for my mother, she is now on Medicare. She is 83 and has Alzheimer's. She doesn't want to live in a retirement home. She lives in her own home and I am her caretaker. It's not easy living with Alzheimer's. In the future, if she is not able to stay in her home I am sending her to this assisted living facility for Alzheimer's that accepts both medicaid and medicare.I have a great elder law attorney. I would encourage anyone in this kind of situation to hire a good elder law attorney.