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P
pingman Asked July 2022

How does someone get parent in long term care without spending all their money? I need money for other parent to live.

Daughterof1930 Jul 2022
My mom spent four very expensive years in a nursing home, much of it on Medicaid, while my dad remained in their home. Her SS went to the nursing home. He kept all of his SS, all of his pension, the home, and one car. His banking was untouched (joint accounts with mom) as was everything else. He had to sell one car, otherwise his finances changed very little. And elder care attorney can guide you through this process.

BurntCaregiver Jul 2022
Medicaid usually lets a spouse remain living in the home and if they are dependent on the other's income, they leave enough for them to survive. Dealing with Medicaid is very different than dealing with a nursing home. Medicaid is reasonable. Nursing homes are not when it comes to money.
If they other spouse is well enough off financially on their own, Medicaid will only go after half of any marital assets. They are only entitled to half.
Aging people also make arrangements with their property and other assets to make them Medicaid-exempt. This means they take real estate and savings accounts and investments out of their names and transfer them to their heirs names before they need a care facility.
There are also certain kinds of Trusts that can be set up to make real estate a Medicaid-exempt asset.
Or, they don't make their families wait until they die or a nursing home takes it all. They start giving in life before they need to be placed.
Of course all of this has to be done usually five years before there's even a thought about Medicaid and placement in a care facility.
You'd do well to talk to a lawyer. One that specializes in Trusts.

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BarbBrooklyn Jul 2022
You need to see a qualified eldercare attorney in their state who can advise on how to keep the community spouse (the one remaining at home) from becoming impoverished.

The rules vary widely by state.

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