My father has been put on Hospice (where I work). He has prostate cancer with bone mets. My husband and I have been taking care of him for 2 years while working full time jobs and raising children. My sister said if she didn't know what she was getting then she was done. She lives 15 minutes away. Step siblings got all of their mother's belongings and her property when she passed away 2 years ago but they don't think they were treated fairly. They took their mothers antique furniture but Dad payed for the other furniture in the house. He signed his 50% over to them (wife did not have a will). But now they don't call or speak to us in public. I worry what it is going to be like at the end of Dad's life. We want him to be comfortable (which Hospice will help) but I see the fireworks coming after his death too. I shouldn't be focused on that but be focused on taking care of him now and enjoying spending time with him. He has a will, and let's just say, the siblings are not going to be happy. How do I stay strong? If we are not working, we are with Dad, taking care of his house, food, medicine, dr appointments and mowing around 5 acres of grass (he lives in a woods) PLUS trying to take care of our own household. I don't want anyone coming around after the fact if they can't come and see him now. What do I do?
As far as life insurance policies, only the owner of the policy can make any changes to it, such as changes of beneficiaries or changing the current owner (if it is himself). This is tricky especially if they are policies that have cash value, if assets are currently being spent down out of pocket to eventually qualify for Medicaid. Any change of ownership of a cash value policy by the Medicaid applicant/policy owner would be considered a transfer of assets if done within 5 years prior to applying for Medicaid, and would be penalized in some way - such as a longer waiting period for eligibility. I hope I have given you some useful tips.