My friend is 86, has a home worth 30k and SUV worth 12k. She had a stroke and is going to a nursing home. Will she lose all her assets there?
She left a power of attorney both medical and financial to another friend because she has no living relatives. Can the other friend sell the house and suv before she goes to the nursing home
I assume that this is about Medicaid eligibility, right? Applicants can own a home and a car. But once she is on Medicaid she will no longer have income to pay for taxes or upkeep on the house.
If she sells either or both of these assets, she will need to spend the proceeds on her own care. For example, she could have dental work done, buy a deluxe wheelchair, pre-pay for burial or cremation, etc. What is left will need to go toward her nursing home costs. When she runs out of money Medicaid will kick in.
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If she sells either or both of these assets, she will need to spend the proceeds on her own care. For example, she could have dental work done, buy a deluxe wheelchair, pre-pay for burial or cremation, etc. What is left will need to go toward her nursing home costs. When she runs out of money Medicaid will kick in.