My mom moved in with me and my family 4yrs ago. She sold her house with a reverse mortgage on it, made a profit of $15k. We paid her credit card bills and used some of the funds to buy her things for her room in our home. She was diagnosed with AD 3yrs ago. She gets $1,600 from ssi and $250 from a 401k. She pays us $200 weekly for room and board. It includes everything, food, personal care, rx management and transportation. The rest of her monthly income goes towards health ins premiums, healthcare policies and credit card payments. She also pays for her rx and personal care items. I am POA. We do not claim the room & board and she doesnt either. She has on average $1,500 in her checking account and no savings We live in MA.
I would be curious to know what is considered 'care' as I do help her shower, cut her nails, do her hair and make her meals. When she needs more care than this I will use her insurance policy to have a caregiver come in to our home. She has 2 policies of $36k each that will pay $350 weekly so I either have 4 years of care or 2years, if I use them simultaneously. Isn't it so sad, We are taking a burden off the government by saving them a medicare payment to a skilled nursing facility.
I will set up an appointment with an attorney to make sure I have not created a problem for myself... ugh
The other problem is that a POA is not allowed to write checks to themselves or use the POA for any personal gain. See your attorney and get it straightened out, do the legal paperwork.