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Who are you caring for?
Which best describes their mobility?
How well are they maintaining their hygiene?
How are they managing their medications?
Does their living environment pose any safety concerns?
Fall risks, spoiled food, or other threats to wellbeing
Are they experiencing any memory loss?
Which best describes your loved one's social life?
Acknowledgment of Disclosures and Authorization
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington. Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services. APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid. We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour. APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment. You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints. Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights. APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.I agree that: A.I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information"). B.APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink. C.APFM may send all communications to me electronically via e-mail or by access to an APFM web site. D.If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records. E.This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year. F.You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
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Mostly Independent
Your loved one may not require home care or assisted living services at this time. However, continue to monitor their condition for changes and consider occasional in-home care services for help as needed.
Remember, this assessment is not a substitute for professional advice.
Share a few details and we will match you to trusted home care in your area:
You always want to avoid probate if at all possible. A will is for "stuff," like "I leave my diamond ring to Susie, and a bucket of coal to Johnny," not for the big ticket items that the estate could get taxed on.
Never, NEVER sign a house over to someone you want to inherit it either, because they'll inherit the same cost basis as your mom and will have to pay capital gains taxes on the profit when they sell. If they inherit it after her death, the cost basis will be the value of the house as of the date of her death. (If she's been in her house for 50 years, chances are that house will have increased in value by an insane amount. That's a lot of taxes you want to avoid.)
Her bank accounts, any investment accounts, and her house should all be in a trust. Ideally, if she's heading into a nursing home and her ability to handle her affairs might be deteriorating, she should appoint someone else as Trustee to handle her affairs. She would still be the beneficiary of the Trust during her lifetime, and all the money and the house would still belong to her, but the Trustee can do all the work.
This is what my parents did when my dad (the competent, healthy one) became ill and died before my mother (the one who was expected to go first). Once my dad was given his terminal diagnosis, we contacted their attorney, who arranged for my folks to resign from their trust and for me, the first successor Trustee, to take over their affairs on the spot. It put my dad's mind at peace, and my mother was absolutely not competent to handle any of her affairs. As a result, I have been able to handle all my mother's business for the past three years, and when she passed away last week, I've been able to continue paying bills and taking care of things without a hiccup. Best of all, I didn't have to wait for my parents to die to learn about their finances and how everything works with a trust.
The one thing that can't go into a trust is Individual Retirement Accounts (IRA). I don't know why, but there it is. When I go to settle the estate (I'm waiting for the death certificate), switching the IRAs over to the beneficiaries will take a little longer, but that's the only roadblock.
Talk to your mom about considering someone else she trusts (you, for example) to be the primary Trustee when she puts the trust together. The attorney she uses, if he's worth his salt, will not talk to you about this at all, because he needs to make sure she isn't be coerced. If she doesn't want to do that, so be it, but if she starts failing cognitively, she won't be able to sign off if she wants to resign from the trust.
On caveat -- If she's going to be using Medicaid to finance her nursing home stay, there may be rules about the house. Others will be along to explain those rules, I'm sure. I'm giving you the scenario my family, which paid for nursing home care out of pocket.
Momma has a trust and iras too. Yes the iras are not in the trust.. Question? Does the iras have to go through probate? You said that you have to provide the death certificate and then the distributions go out to the beneficiaries. I just do the same thing and do you know how long it takes or I guess you are still waiting.
Please see an estate lawyer for state specific advice on this. It’ll be well worth the money spent. My dad changed his home into a life estate deed, meaning he retained full ownership in his life and upon his death I became the owner. This was advised by his lawyer to avoid probate and it worked out really well. I had no taxes to pay on it as I owned the house only 2 months after he died. Avoiding probate definitely made matters go more smoothly, but there can be state specific laws you’ll need to be fully informed about
Not usually - if you are attempting to avoid a Medicaid lien, consult an attorney. There is a lookback on transfers for up to 5 years when applying. Texas is one of the few states that allows ladybird deed outside probate but consult an attorney. Not a do it yourself.
Not if she may need Medicaid within next 5 years. It looks like your hiding assets.
Medicaid does not "take" the house. As long as she is living, its an exempt asset. If someone has resided with her for years, is a diabled child or a related caregiver they maybe able to remain in the home if they can show they can afford the bills, taxes and upkeep. Mom's SS and pension, if there is one, will need to go towards her care. The house cannot be rented without an OK from Medicaid. If sold, it has to sell for Market Value. The proceeds going to her care.
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington.
Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services.
APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid.
We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour.
APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment.
You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints.
Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights.
APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.
I agree that:
A.
I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information").
B.
APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink.
C.
APFM may send all communications to me electronically via e-mail or by access to an APFM web site.
D.
If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records.
E.
This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year.
F.
You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
Never, NEVER sign a house over to someone you want to inherit it either, because they'll inherit the same cost basis as your mom and will have to pay capital gains taxes on the profit when they sell. If they inherit it after her death, the cost basis will be the value of the house as of the date of her death. (If she's been in her house for 50 years, chances are that house will have increased in value by an insane amount. That's a lot of taxes you want to avoid.)
Her bank accounts, any investment accounts, and her house should all be in a trust. Ideally, if she's heading into a nursing home and her ability to handle her affairs might be deteriorating, she should appoint someone else as Trustee to handle her affairs. She would still be the beneficiary of the Trust during her lifetime, and all the money and the house would still belong to her, but the Trustee can do all the work.
This is what my parents did when my dad (the competent, healthy one) became ill and died before my mother (the one who was expected to go first). Once my dad was given his terminal diagnosis, we contacted their attorney, who arranged for my folks to resign from their trust and for me, the first successor Trustee, to take over their affairs on the spot. It put my dad's mind at peace, and my mother was absolutely not competent to handle any of her affairs. As a result, I have been able to handle all my mother's business for the past three years, and when she passed away last week, I've been able to continue paying bills and taking care of things without a hiccup. Best of all, I didn't have to wait for my parents to die to learn about their finances and how everything works with a trust.
The one thing that can't go into a trust is Individual Retirement Accounts (IRA). I don't know why, but there it is. When I go to settle the estate (I'm waiting for the death certificate), switching the IRAs over to the beneficiaries will take a little longer, but that's the only roadblock.
Talk to your mom about considering someone else she trusts (you, for example) to be the primary Trustee when she puts the trust together. The attorney she uses, if he's worth his salt, will not talk to you about this at all, because he needs to make sure she isn't be coerced. If she doesn't want to do that, so be it, but if she starts failing cognitively, she won't be able to sign off if she wants to resign from the trust.
On caveat -- If she's going to be using Medicaid to finance her nursing home stay, there may be rules about the house. Others will be along to explain those rules, I'm sure. I'm giving you the scenario my family, which paid for nursing home care out of pocket.
Medicaid does not "take" the house. As long as she is living, its an exempt asset. If someone has resided with her for years, is a diabled child or a related caregiver they maybe able to remain in the home if they can show they can afford the bills, taxes and upkeep. Mom's SS and pension, if there is one, will need to go towards her care. The house cannot be rented without an OK from Medicaid. If sold, it has to sell for Market Value. The proceeds going to her care.