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Yes, we purchased this program and were able to save a huge amount of my mother's money. The sad thing is that the states are aware of this plan but Medicare does not tell you how it works.
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I agree with you 100%, ArmyRetired. Where did everyone get the idea that they should find ways to hide the elder person's assets so they can get the taxpayer (YOU, ME, our CHILDREN and GRANDCHILDREN, and beyond) to foot the bill for their nursing home care? That is ludicrous, but that is exactly what my sister is doing right now. She is consulting an elder attorney to find a "legal" way to preserve our mom's ~ $1M in assets and get medicaid to pay for her care. Medicare has covered the 100 days in the facility she is in, and now my sister is concerned that her eventual inheritance (that she has been working so diligently for) will start to dwindle down to nothing, assuming our mom lives for several more years. Our mom is 87 but in pretty good shape once she recovers from a fall that happened in Feb. Her mother, born in 1898 lived to be 94, so she could very well have several years of life left in her. She is doing PT now and should be improving over the next few months to get back to normal living. So my sister is frantically trying to come up with a way to shield my mom's money from being spent on her medical care. Would love to see it all clawed back by the Feds once my mom is gone. Is there a "legal" way to shield assets - pretty much just cash, stocks and annuities - to qualify for medicaid?
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Medicaid is for the poor! I do not want my taxes being used to fund elderly care so that the family can inherit their assets. The assets should be spend down first, then medicaid can be utilized.
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Information is power. I assisted clients with their estate and Medicaid planning for 25 years, as an elder law attorney. I wanted to help more than just a few clients so I wrote a book that clearly explains all the Medicaid rules, what you can and should NOT do, the loopholes only the high-priced attorneys know, and how to find a good attorney to assist you. The book is called "How to Protect Your Family's Assets from Devastating Nursing Home Costs: Medicaid Secrets" (www.MedicaidSecrets.com) and is very highly reviewed on Amazon.com. The government will NOT give you good advice; would you go to the IRS for tax planning? Arm yourself with the rules and techniques so you avoid costly mistakes and take full advantage of the laws for your own benefit. See my interview on the John Stossel show on Fox-TV; it's fun! Thanks and good luck!!
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Please listen to Cat and don't go with anything out there that promises to "save your assets from Medicaid." There are tons of scams where you can lose money at best, and end up with Federal legal problems at worst. See if your state has some attorney services for people with low incomes. Most do. An estate attorney is best. The Medicaid laws are quite clear and there's a look back time over the last five years. They will want records. If there are assets that pass the test, you'll find out.

As Cat says, many, if not most of us, have gone through this. I know it's hard, but it's better than trouble with the law.



Carol
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Hi everyone.

I am in this situation right now. Mom recently entered a nursing home. Medicare will cover most of the cost for the first 100 days. After that it's $800 per day to keep her there. She is going to need Medicaid. She has about $5000 in the bank plus a house.

What I'd like to know is: Whenever my Mom passes away, will all monies due Medicaid become fully due and payable, or can we pay in installments?

Ideally, we'd like to avoid spending all proceeds from sale of her home to pay medical bills, but don't know if there's a way.

Any advice appreciated; thanks.
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Hey stargazer....the reason those regulations are in place is to keep people from keeping the money and having the state pick up the tab. So, the *consequences* to her are that she keeps her money and uses it as she needs it. Once she has spent down to 2,000.00 she can qualify for a Medicaid facility if she needs skilled care. Medicaid for custodial or assisted living is another ball of wax.

Sorry to say that these regulations were tightened up due to abuse and advertisments by "trust advisors" like that video you mentioned.

On a personal note - I am sorry you feel that way about the system - but truly her money is for her care and comfort. Given these tough economic times it is going to be less likely that any state does not enforce these rules no matter what is advertised. The state also goes after money after the person has passed away - so the trust loophole is eroding rapidly.

Take care and I hope you can come to terms with what is rather than what people have been duped into believing by advertising.
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Supposedly, this is what the MAPP video covers. There may be nothing
I can do now anyway. She made stupid decision based on greed, insecurity,
and lack of trust, and she'd probably make the same decisions again
regardless of the consequences to me. In fact, I found newspaper articles
she had cut out and read which should have informed her of the
consequences, but that's my mother. She's always saying, "look out
for number one," and I guess that's what she was doing : (
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I don't know what money transfers are allowable. I'm sure gifted money, the same as they allow per year. I think its $10,000 per family member.

My mom won't put her money in no ones name. She trusts no one. My dad is nursing home material as it is. She would rather see the government get it that any of her kids or grand kids. I don't care she can rot on that money for all I care. If some poor person would come take them off my hands I would hand them any inheritance I will (never) get. Ha! Ha!
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Anybody know what money transfers within the "look-back period" are
allowable?
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She would have to put the money in your name. It has to be in your name for a total of five years. There is a five year look back period. If she is alone and not married. If she were to go in a nursing home, you would have to spend down all of her money, except for about $5,000, she can keep her car and her house.

If she is married, and she is putting her huband in a nursing home, you have to spend down all the money except the spouse gets to keep $90,000 to $100,000 plus their house and car.
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She has some money in a bank account and a house. Everything
is primarily in her name because she demanded it be that way,
even though it's the sum total of the life work of my aunt, uncle,
and father (she rarely worked). She's a hoarder, and she's hoarded
everything her whole life. The way things are going, she'll probably
outlive me anyway, I'm at the end of my rope.
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You don't necessarily need a lawyer. What are you trying to protect while qualifying for Medicaid? Believe it or not, the rules are fairly clear and there are volunteers who can help.
without disclosing any personal info - what assets do you have, what is the situation? Seriously, we have all been there and some on this site are quite knowledgable.
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But going to a lawyer for advice is going to cost too. There must
be some way to protect what little assets we have.
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don't do it. Real info is free from your local area agency on aging.
Lots of times they just rehash the same info and charge you for it.....remember
if they spent money to advertise and charge, it is TOO GOOD TO BE TRUE.
bless you.
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I saw the ad for the video and wondered also. Anybody actually buy it?
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