My sister has cancer, low vision and mobility issues. She will need to move to some type of assisted living at some point in the future. If she puts the proceeds from the house into some type of retirement account, I’m hoping she would be protected from losing this amount to a home. She lives in low income apartments and lives off her SS only. Thanks!
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Or is your question really "how can my sister sock away 60K yet have the taxpayer, through Medicaid, fund her for nursing home care" - as a taxpayer - i say "no - she has assets, use HER assets for HER care" When those are gone, if she needs Medicaid then so be it.
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So what do you think should happen to the money that your sister will have "protected"? What better cause does she want to spend it on rather than her own comfort and care?
May she find a good place with a caring team to support her, whatever else happens.
residential care.
The money had been made by my father, and saved by my mother, dollar by dollar.
Worth EVERY CENT, and ZERO REGRETS.
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