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KLK02062 Asked March 2012

My mother has sold her house and wants to give some the money to her sons. What happens if she needs a nursing home in the future?

EXPERT Carol Bradley Bursack, CDSGF Mar 2012
Right on, Jeannegibbs! Five years is the magic number as far as Medicaid is concerned. Seeing an estate attorney or elder law attorney is a good idea in this case.
Take care,
Carol

jeannegibbs Mar 2012
If she has enough other assets to pay for her own care, no problem. If she doesn't need financial assistance (such as Medicaid) for more than 5 years, no problem. But if she happens to need to apply for Medicaid in the next 5 years, giving away money now could be a problem.

How good is your crystal ball?

I suggest seeing an elder law attorney or an estate planner for advice on how to accomplish your mother's wishes with the least risk.

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jeannegibbs Mar 2012
klucky, I assume that KLK02062 is one of her sons. It helps when people fill out their profiles, doesn't it?

klucky Mar 2012
Trying to view yor situation I see u view your brothers as your mothers sons,this is uncommon in my neck of the woods,nothing wrong with that but did ur mother say she would leave u anything too or has there been any falling out of relationships between ur brothers or mother ?

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