Will in NC

[Randy52]

Had will made yrs ago to my kids in NC, that's it, what good is it if I go into a resthome with my property?

 

[Dandy Don]

What assets do you have listed in the will?

As it stands now, what is the value of your estate if you (heaven forbid) should pass away tomorrow?

 

[Randy52]

Had will made yrs ago to my kids in NC, that's it, what good is it if I go into a resthome with my property?

Not s

Had will made yrs ago to my kids in NC, that's it, what good is it if I go into a resthome with my property?

Not sure of property value, just wondering if will is worth anything if stay in resthome a while?

 

[ShyCat]

Your will cannot give away what you no longer own, and if your assets have to be sold to help pay for your care, then what is spent on that care will no longer be available for your heirs to inherit. The disposition of your remaining assets would be directed by your will and any account beneficiary designations.

 

[commentator]

Are your expenses in the "resthome" going to be paid by Medicaid? If so, they will do a means testing, and if you have assets, they'll put a lien on your property, so that, at your passing, if you die, having had your care paid for by Medicaid, they'll have a chance to recoup their expenditures from your property and estate. As someone else pointed out, if you fall over tomorrow, or pass away very quickly, they probably won't find that you owe them very much.

But if you need to be in a rest home, as you put it, what else would your property and assets be supposed to be used for except to pay for your care? You can't expect to receive a bunch of free care paid for by the taxpayers and then go on and have everything you have owned to go to your kids. Even if you were to deed the property over to your children at this point, you'll still find it considered an asset by Medicaid. If you are self-paying for all your care in the home, or if it is all covered by Medicare, not Medicaid (which happens for a short time in some circumstances) you'll still own the property and it will be yours to leave to your children.

 

[t74]

Please meet with an elder law attorney to revise your will for current circumstances and address legal issues so you do not leave your heirs to clean up a messy situation after you pass. This is truly a gift from you to them.

Also meet with a social worker to discuss your living options. There are situations other than nursing homes for elderly unable to manage entirely on their own anymore other than the resthome. They offer varying levels of services. An evaluation of your needs will help identify the appropriate communities for your current situation. There are many lovely facilities now that were unavailable years ago where you have a small apartment with assistance for housekeeping, laundry, meals, transportation, medication management, ... and they offer activities in the facility for residents. Some even allow a resident to keep a small pet.