@@jamesbrust9959 are you assuming someone's diligent savings over decades is taxable? While others spend every dime on credit things they cannot afford? Wait until you are medicare age, or need help due to poor health. Give it to strangers crissing USA borders instead. That is the problem, and legal USA citizens when old, have "rules" like these to pillage when ill unable to work, thus Medicaid help, gers you at the end of your days. What a racket. That is how govt"makes money.
@@jamesbrust9959 Transferring your assets in a manner that _conforms_ to the very laws that will be used to determine your eligibility is not in any way, shape, or form "cheating".
I am so thankful that we rescued our parents, selling off their assets and having them live with us before their downfall. They lived happy lives with us and had need of nothing. We didn't know about these laws at the time. Now, our Mom is bedridden but otherwise in good health and we aim to keep her that way. When we brought her down to live with us, the doctor had her on 12 medications. Now, she takes only one and wouldn't need that if she would drink more water!
While working in a dementia long term care facility a 59 year old man got out and was attempting to commit a crime because he had been in prison and liked that better than the facility he was in. @@fjb6631
If you live in Michigan, look into what's called a." Lady Bird deed which protects the home from Medicaid seizure. Its quite new and we are only one of 4 states.that have this. I recently did this
After reading the comments again, I don't think you realize how much you helped people wrap their minds around this. We as a society have to figure out something better than this.
I live in Michigan. The first thing I did after my husband's diagnosis of early cognitive decline was to get our Family Trust updated and a guardianship for him in place. We protected what assets we could. I was aware of the five-year rule. We are a second marriage and between us we raised and educated four children between us in our first marriage. My husband lost all his first marriage assets in his divorce so we basically started over again at age 46 and 50. We are now spending down his assets first (those things in his name - his IRA, his pension, his truck while preserving my assets with the assumption I will live longer.) This is the best we can do.
Wow I am thankful I saw your comment right away. I have 2 different brain issues found out in April 2023 the week of my birthday. I'm 53 now. I never would have thought of anything to do like that. I hope your husband gets better. There is several different new founded or old just not know about treatments for the delay in progression of detrimental affects. Bless both of you 🫂🙏
When my Mother turned 89 it was time to find a constant care home for her. We tried to take care of her in our home as best we could, but with the onset of dementia we could not provide the care she needed as I worked out of state and my wife was the director of nutritional services at a nursing home. We were able to get her into the facility my wife worked at. My Mother was a resident there for 10 years until she passed at age 99 and 6 months. My wife checked on her daily, I saw her every Sunday, and I made every care conference. Being directly involved with the care your loved one is receiving assures that your loved one receives professional loving care. We will always be grateful to the staff that guided us through the process. It was a God send.
So happy everything turned out nicely for you but to say, " Being directly involved with the care your loved one is receiving assures that your loved one receives professional loving care," is disingenuous and cruel. Your mother received preferential care because your wife worked there, not because you attended care meetings and visited her once per week.
Medicaid nursing homes are horrible. I used to go to our county home at Christmases to volunteer. That more than anything has prompted me to save, save, save.
In the early 80s it was a 3 year look back period. A friend of mine’s mother had a very bad stroke and her daughter took care of her at her house but she had 2 school age children and had no choice after 3 years to put her mother in a nursing home where she lived for about 18 years.😢
Grandmother and Mother lived together in Michigan. My grandmother went into a nursing home my mother passed away in 2003. In Michigan back then it was a 3 year rule. Their home had been in the family since 1963. My Grandma took her name off the house in 2000. My mother had her on her private insurance when she passed away she had to go on to medicaid. I inherited the house from my mom. The state of Michigan did a thorough check and sent me a letter stating that I was able to keep my mother's house by 1 day. Plan ahead, I used to have conversations with my mother about planning her estate. She did not think it necessary due to her being a widow and only having 1 child. My mom also had a life insurance policy with her mother's name on it. We had to prepay her funeral and set up the policy to pay what was not covered by medicaid. The remaining balance came to me after my grandma passed in 2005. I am just happy everything turned out ok.
I'm glad I got my parents on board with taking everything out of their names. They could legally stay in the house for as long as they needed no one could force them to leave . If it weren't for that the state would have got everything. Everything my father worked for his entire life.
So....might I ask if you or your parents voted for candidates who want to cut Medicaid as a part of "wasteful government spending"? I'm assuming that what remained of your fathers life's work went to you and not the state.
When it gets to the point where I no longer can wipe my own ass it is time to do what needs to be done. Nursing home is not an option. I have no problem with assisted suicide or if that isn't legal take care of it myself. We treat our pets better than we treat people.
The living conditions are ghastly for people at that point in life…..4 people sharing a tiny bathroom in a cinderblock low ceiling room, shared by 2 people. Like the worst dorm room you ever saw!
It would make a good follow up video to talk about Medicaid having financial rights to a spouses income to offset long term care costs. To plan ahead to avoid that, my husband & I divorced on paper a few years ago & in two more years will be off the hook for the other.
This is why I never married my boyfriend. We were together 9 years when he died. I STILL 2 years later get collection letters. I call them and let them know he's gone.
@@joycef8443 No, it is not. We were both in our sixties at the time and in excellent health and with no expectation of needing a 24/7 care facility in the future. We believe each spouse or partner in a relationship is responsible for their own finances and functioned that way from day 1 of our marriage. The laws for married people about their finances never suited us and finding out about the Medicaid regulations was the last straw.
So in summary....there is a 5 year rule of transfer before you apply for Medicaid and we should try to avoid. The transfer includes bank accounts, investment account, stocks, bonds, etc. The way to alleviate the issue is to 1. Have a Revocable Living Trust and 2. Have all of the assets in it?!?? Did I capture that Summary correctly??
Strongly recommend you check with an experienced estate attorney. When I posed your question to mine I was advised it was a no go because in an RT you retain control of assets in the trust.
The sad thing is no nursing home provides that amount care to anyone there. They individuals are not showed on a regular bases usually sponge bath with 1 shower a week the food is not good of quality and the treatment is even worse so why are they allowed to charge so much
A relative of a close friend of mine did do that... transferred out all his and his wifes assets to.avoid Medicaid. He knew he was terminal a cardiac patient and was dying of congestive heart failure and was in Hospice care at home with visitng nurses. There was no cure for ailed him. His wife knew SHE had Parkinsons but was not yet in poor health otherwise. She did not need nursing home care for six years..so the family member they gave their assets to was able to keep those assets. It just depends how long the person lasts without nursing home care. One never knows. What was protected was under $100,000 bec they had cashed out their home before either got ill so they didnt have a huge net worth.
Worked 50 hours a week most of my working years and 15 to 20 hours moonlighting to get our modest row house paid off . Even worked a year pass 66 to get my car & crefit card paid off. Only took one cruise and a week vacation down the shore every summer. Never smoked or drank so I have over $250K in my 401K. Was hoping to leave most if our money to my one struggling son & sone money towards grandchildrens college but my wifes dementia us getting worst and appears that all of yhat hard earned money will go to eufes nursing home.
If I give all my assets to my children 5 years before the Look Back window starts and just keep my $3K pension will I be subject to a look back period fo the assets and Income I gave away. Again, pre-planing 5 years before the look back period.. it might be longer?
Heck lets make it 100 years for non government employees. While we're at it let's text the assets that are transferred and pay that directly to congressmen. Might as well tax on a surcharge for all services and drugs provided by government Medicare that has to be paid by the insured. And to show were compassionate will provide every Medicare recipient with two cans of dog food to eat every month.
NURSING HOME SUCKS - thanks to system in USA.( from a well known MD who has seen operation of nursing home. Keep in home , never think of going to nursing home.
I agree 100%!! Why prolong life and not have quality. Do our best to live a healthy life and I have a faith that this is not my eternal home. Thank God!!
We always have the option to not take the life prolonging medicine. At 90 my Mom, while in assisted living, opted to stop taking her congestive heart failure medicine. A year later she was gone.
What about money in your savings account or checking account. How can that be used? We live in the north and go south and rent in the winter is this something you can do with you're own money or would this disqualify you?
I don't own a home, I currently rent and live alone, less than10,000 in savings and checking. I need to pre-pay for my funeral. Should I take out life insurance to cover the cost, or burial insurance, or should I be making monthly payments to a funeral provider for my funeral? Thank you for any info you can provide.
Laws need to be changed! That also applies to married couples, so it leaves the spouse broke. We had a good lawyer that got my mom all her money back from the nursing home, and left their money intact, after my dad was put in a nursing home.
I'm thinking always keep larger amounts of cash in a safe place like a bank safety deposit. Or in a crypto currency wallet. What are the thoughts on having your home owned by an LLC that someone pays rent to. To avoid being a homeowner??
You wrote a year ago and mentioned possibly keeping large amounts of cash in a safe deposit box. If you did that, remove it now. A "bail in" federal law was passed years ago that allows banks to confiscate all valuables in safe deposit boxes, including cash.
Hello We are living in ct. and I have rental property which is income I need for our living expenses How ever our residential home is almost paid off My rental place is free of mortgage . How can we save our rental and house and our banks accounts How should be the strategy to be safe side . I have heard spelt the properties between my wife , if need it for nursing we should buy medical bond with income awnuty bond what you advise ?
Nursing homes only exist for one purpose make owners rich. So just like slumlords minimal input maximum take out. No cameras no unannounced visits hide hide hide! employees minimum wage often undocumented workers, much of the time a don't care get the shift over with because of least staffing possible, especially on the weekends. They make the menus sound delightful but what actually shows up a lot of dogs would turn up their noses to. Some are better than others some should be have the owners forced to endure. Medical care well what do you think of this. blood sugar levels approaching 350 response "that's okay" blood sugar levels at 400 response "well we will call the resident doctor" And this is when the diabetes IS noted on the medical records and charts. Talk about a legal scam! No wonder nursing home have the rep of "The place you go to DIE!"
Nursing homes are, unfortunately, more likely by FAR, to be expensively horrible places to put a loved one. Regardless of their pamphlets, mission statements and things they “officially state” as their rules. Short staffing, poorly run, and uncaring, unvetted people who are rushed, rough and unable to give the care they would like to give, at best, and harsh, cruel and uncaring, or even abusing at worst, are *the norm.” That you pay through the nose for this type of “care” is flatly disgusting. If you are forced to have a person you love in care, because yes, at times you simply can’t do the care on your own, then visit daily. Be alert, be a pain in the staff’s ass by asking questions and being proactive. I say this as a nurse, working in the field for over 26 years.
as a retired nurse after decades of working, not in a nursing home however, if you want to po the staff just try being a pain in the ass day in and day out.....the patient will be ultimately treated as an iceberg.....better yet, visit often, HELP when you can, like feeding your loved one, or brushing their hair, or their teeth......if you could save the staff even 10 minutes of work they will appreciate you and treat your loved one better....
@@leelaural but the job of the staff is to provide personal care and the family is paying for personal care plus feeding. Family is paying for personal care
@@leelaural If you are a nurse, and state publicly that if a resident’s family is a pain in the ass, that their loved one will suffer for it by staff taking it out on them, then that’s a big problem, and even MORE reason for family to be there daily. . When I say, if you are FORCED to put your loved one in care, then visit daily and ask questions and be a pain in the ass, I mean it, in the way that “some” nurses seem to feel it’s a pain in their ass when family insists on answers, and doesn’t just accept answers that don’t add up, or family who point out care omissions, (like, “mom’s teeth haven’t been brushed today”, or “why is she in the same dirty clothes she was in two days ago?”) Family needs to be alert and to let the staff know that they are looking out for their loved one. No one said for the family to BE asses; one can ask these questions and have a heavy presence without being mean or rude. I DID (and do!) work in some of these places as a nurse traveler , and I always encouraged family to be very proactive and present daily. Sure, they can also be helpful. But they are paying for US to care for their mom, dad, etc, and paying a LOT…. so, we should be doing it right.
Our healthcare system isn’t broken. Allowing insurance companies to run things ruined it. Years ago if you were married and you both worked, the overlapping insurance meant you were covered 100%. You didn’t get money back, between the two policies you just didn’t have a gap out of pocket. This is how evil they are. I worked, my insurance covered 80% of my healthcare and had spousal benefits with the same coverage. Husband worked and his insurance was almost identical….80% paid for both of us. In fact we were over insuredThen they did something I think was illegal (basing that thought on conglomerates like Bell Telephone was doing). They decided that you would both work, and get insurance. The NEW policy is like this. One policy pays 80%, leaving you with the 20%. the 2nd one will pay only part of that remaining cost. This happens so they can take your money
Yes, I remember when we were over insured and they tried this when we had our first and only child. We fought them and got full coverage and got $600.00 cash to buy a crib.
Coordination of benefits is not new. Even in the 1970’s the primary carrier paid first. Then the secondary carrier paid the balance, except for non covered items. Health insurance was never designed for people to make money.
@@lindap.p.1337 sure it was. Have you ever in your entire life seen insurance companies having a bad year? The secondary insurance doesn’t cost less for only paying 20%
@@joshuapk9808 and yet few to none want to do that, people are ALL the same parents are a cash cow, a pile of money, " Mom DO SOMETHING !! or I will lose MY MONEY!! lol good.
My Mom had to go to a nursing home for 'rehabilitation' after a fall. Two months later, we brought her home to find that 'they' had not told us of the bed sores on her back and both of her heals had peeled off from the bone. Never again will we allow her to go into a nursing home; ever. Now, we cannot leave her alone which means someone has to always be here, but better that then to have them kill her off. Not all nursing homes are like that, but there are in this little town. The waiting list in a very long one in this state and no one can choose a nursing home unless, of course, they are wealthy and can pay off those in charge. It's a system to defraud the elderly and their heirs and it needs to be stopped. I've seen what these nursing homes do to people and how people lose all dignity in those places. My father-in-law had to go to one when he had stage four cancer and when we went to visit him, he was so darn sick from a urinary tract infection that we didn't even recognize him. It was caused by the catheter which apparently wasn't properly cleaned. It sickens me to know that people suffer at the hands of others like that. Look what Cuomo did to the elderly in NY - he has blood on his hands as he purposely killed off a lot of Moms and Dads.
Ithere are good homes and bad ones. Sometimes patients that enter should really be in hospice care. Cuomo is a Democrat. Democrats are the party that better with human issues than are Republicans. I thought was not so bad. But I don't live in NY. This atty is essentially telling the audience how to dispose of assets over a required period of 5 years. That accomplishes "maming themselves indigent" so they can avail themselves of Medicaid. I would think with all the taxes these people have paid and how they have spent their lives contributing to society that they are more worthy of some end of life assistance?
@@JaimeGarcia-sg9xj There are botany good nursing homes!!! They are cruel and do not care for the elderly. I have lots of history through my parents and health care. Unless you plan on letting them die a horrible death stay away from nursing homes ! B
I had to leave long term care as a nurse because it kills you not to have the resources and staff to provide the quality of care that these folks deserve. The margins are to tight, with out enoygh regular staff they use travel agency staff, many of whom are wonderful nurses and aides, but they dont know the residents and thays so important. Taking care of my grandfather is why i became a nurse. I think the home i spent 6 years working at was better than most but i was still ftequently frustrated that the residents seemed to be second in priority to profits. And the place still was usually in the red.
Yea, we wanted to buy our mom’s home after she passed away. Medicaid said we had to pay full market value. The home needed a lot of work but that didn’t matter. We let it go and it went into auction and the home was sold for penny’s on the dollar. That was the pits.
Wait, something about this doesn't make sense. If the home sold for pennies on the dollar, then you didn't get market value for it, so were you ALSO penalized by medicaid on top of having to sell the home? Just asking because I'm facing a similar situation albeit with a vehicle not a home.
@@ChadBoss-qr4hl If we had sold it, the money would have been taken by Medicaid so we didn’t pursue that route. There was also a mortgage on it and we couldn’t see any sense in keeping the payments going if we couldn’t sell and keep the equity after doing the repair work or buying it for less than market and then doing the repairs. It became such a hassle with Medicaid that just gave rather than take a chance of getting caught in something really bad. Medicare went back through every financial transaction that occurred for five years before and they questioned everything. So, what happened was the bank foreclosed on the home and then they auctioned it off.
@@susananderson9619 you were lucky to be able to do that I tried, but it was not safe to leave my mother home alone. She actually enjoyed assisted living where she had activities and friends and the sundowners didn’t bother anybody if she was up at 2 AM. Everybody’s situation is different, so please don’t judge others.
24 hour private care, 375 days a year at a meager $15/hr comes to $131,000 per year. I have known dementia patients who need that kind of care for multiples of years. The longest was 11 years. Add to that groceries, utilities, medications, and day to expenses incurred in your own home and pretty soon even the most robust retirement account is wiped out. It usually falls to one child to suspend their life and try to do the impossible for mom or dad for years. There are no easy answers and different diseases have differing levels of cruelty. Estate planning is essential before these times occur. I had a friend with no immediate family who just stopped eating as his disease progressed and finally got admitted to hospice if he would private pay. He smiled the day before he died and said, “if I can die before next week, I’ll save $8000.” He always loved a bargain. He was lucky to have enough in the bank AND a disease that allowed him to do that.
I see a lot of Dementia patients that linger for years as FULL Codes with multiple hospitalizations , low quality of life but their families won't let them go. Last week I had a Resident spend the last month of her life going out for 2 blood transfusions before finally being put on Hospice the last week of her life.
Well, if you go to prison for fraud then you won't have to pay to live in a nursing home will ya? Plus you can leave your home to your kids and have better conditions for living than in a nursing home, 3 square meals a day, a gym, your own room, free healthcare and everything.
When you go into a long term nursing home and the state pays for it a lien goes on the house that person owns and the money that the state paid gets paid back first when the property changes ownership.
Here’s something that is just pure truth and it is unforgivable. If you are white and American and you apply for Medicaid because you are elderly and need to be in a nursing home, the government will do the equivalent of giving you two middle fingers, insulting you, and punishing you financially. Then they will give you impossible or very unrealistic stipulations to complete before denying you three times, then maybe-JUST MAYBE, if the planets align, it’s a leap year and you’re still alive at 90, THEN you can get approved. BUT….. If you’re an illegal, you get an instant check and pre-approval for it all. Your biggest problem is deciding on the amount to make out the blank check they give you. You have one, MAYBE TWO pages of paperwork and that’s only to confirm where your money goes so you don’t get inconvenienced. This makes me vomit.
Work your A - ! Off all your life’s, then you can’t even give things or money to your children!!!!! My late husband and I should of just blew all our money and didn’t give a darn about trying to leave something to our Family. No, we worked hard our whole 42 years of marriage. Now, God forbid it can ALL BE SUCKED UP by a nursing home!!! I will make a plan NOW!!! Thank you for the info. My sister lives in Washington state, says it’s 2 years in her state.?
Paul, I am disappointed you and so many Americans believe that it is unfair to ask all citizens to use all their financial resources before asking for the government (aka THE US TAXPAYER) to pick up their bill. First, I disagree. Most all people I come into contact with have no idea, absolutely no idea what a skilled care nursing facility costs. They also have no idea what an assisted living facility or even an independent senior living facility costs. Most Americans have only a very vague idea what it costs to live in any kind of facility outside their own home or apartment. There’s always “shock” and dismay when the reality hits them. But, it angers me that attorneys like you peddle information on how to game the system, how to get someone else - like ME, the Taxpayer - to pay for their long term care, when in fact, THEY have the resources to do it themselves and simply do NOT want to do so!!! Folks, why should the taxpayer pay for you, when YOU have the resources to pay for your own care. Is there a rule or a law written somewhere that makes it OK to hide money and resources, so you don’t have to pay? Boy, am I on a rant.
I've warched many of your "lessons ". You provide a wealth of information simply for the cost of taking time to watch your videos. I'm sure a person would need an actual in personal attorney to work through the details but you certainly create a fantastic starting point.
Simple equation, work and pay taxes your whole life and at the end the government gets what should belong to your family. Sneak into our country, never put dime one into the system and at the end Uncle Sam pays for everything. No matter what political party you belong to, what sense does that make? Social security is going broke. Simple fix, stop giving social security to people who never paid into it. I never finished college and I was able to figure that out all by myself.
So basically you want the tax payer to pay for your care, so you can keep it to give to your family. In the past the family would be asked to pay for your care after you paid.
I was in special Ed class all my life. I have low syndrome and had a couple of jobs that didn't last. I am not fast in doing anything .having to be fast in anything thing or a job, my mind goes blank on me. Sometimes, I feel so stupid. But I do try so hard to do things . I enjoyed helping people when I can. I have medicaid all my life. They said that when I turned 65, I will get medical with medicaid . There are times when I get confused with all the different paperwork. Thank you for listening to me. Take care, everyone ❤😊
Who wants to go into a nursing home. They are horrible. 2 people per room, in bed and gotten up for meals and then back to your bed, everyone in diapers changed typically every 4 hours, one shower per week done by whoever the shower aide happens to be that day, bad food, smelly, depressing, shelved until death. People end up in nursing homes due to hospitalizations that end with the decision that you need to go into a rehab facility which is just a glorified name for a nursing home because you can no longer care for yourself. The hospital will drain your savings the nursing home will take what is left including your home and then you end up on medicaid which will afford you the worst nursing home experience you don't want to imagine. Better to refuse treatment other than pain management when you get the big diagnosis and passing away at home. The hospital is only going to give you a few months more and a lot of misery.
Or move to a state that has a right to die law. If you are terminal and have less than six months to go, Doctors can give you life ending medication, which you take on your own. You have to be in sound mind for this help.
we have a sick twisted system, middle class folk who "do things right" and skimp and save and are thrifty and build up something for their retirement and their children, get wiped out by this vicious meat grinder of elder care costs. poor people are just as poor before as they are after, rich have armies of lawyers and accountants sheltering their assets. its only working class families that get screwed.
I often do real estate appraisals for Medicaid cases. Medicaid will say their home is worth $300,000 however the elderly sometimes can't maintain the home and it is in poor condition and not worth $300,000. Medicaid never looks at the house. They use online information to value it. I do an actual appraisal so the patient or heirs are not liable for the difference in sales price and what Medicaid says its worth. The appraisal is particularly helpful when an heir wants to keep Granny's house in the family. If you get the appraisal before you transfer the property its pretty easy. If you get an appraisal after you transfer the property you may end up in Administrative law court where you have to hire me as an expert witness and an attorney. Its not a tough case but will probably cost you $3,000-$5,000+/- I am a State Certified General Real Estate Appraiser in NJ.
Currently on NJ Family Care Health Insurance (NJ Medicaid) I`m single, retired and 64. Will apply for SS in 2027 at my FRA. I`ve been on this program for a few years due to a reduction of income. Prior I was on Obamacare that I paid for monthly and prior to that I was employed that included free health insurance. My question is... I own my own home, over 25 years, and will turn 65 in May of 2025 and will sign up for Medicare accordingly. Taking a lump sum pension next year may disqualify me to continue with Medicaid (not sure). If I were to sell my home sometime in the next few years and downsize, and need to use the proceeds of the sale to live off of, will NJ Medicaid "estate recovery" take my money then or when I pass away? Just doing some financial planning in advance. Thanks
Thanks Again! I don't live in Louisiana but I'm still learning really valuable stuff from you. It is a blessing to find someone who is willing to share such knowledge without trying to be a "know-it-all". You clearly warn us we need to pursue further help & WHY! Thanks Again! Patricia in FL
Are donations to non-profit groups considered a transferred resource that would cause the 5-year penalty to be put in place? I tithe to my church and make donations to help support 4 children in other countries, etc. Thank you for all the great info!
We bought long term care insurance when our term life insurance ended. The premiums are reasonable, considering how expensive nursing home care is! We don't want our kids to have to take care of us, or pay for our care if we run out of money.
Very educational. My friends dad just went into a nursing home and my friend now has no inheritance because her dad failed to plan ahead! It happened quick and everyone was like “What!” No clue? I am shocked how people who can afford an attorney just put it off. I guess thinking it can’t happen to them.
Honestly as aging parents with a sizable estate. We did not save it for our kids and they want us to enjoy. 2nd a nursing home for anyone is a death sentence. Yet for you to see only the money as inheritance rather than a cushion to make it as comfortable as possible on our exit. Take care of your loved 🥰 ones. Nursing homes are an easy way to sweep your loving parents out of sight. Pay for home care!!
@@retiredgamblers3517 Sorry I said that the way I did. Of course the inheritance is not a main focus, but most of us would like to leave something for our children. Whatever we do we need to plan ahead.
@@Norm475 As a former Attorney, this is what it always boiled down to - control of assets. Very few people will give up control of their assets until it is too late. Fortunately my parents trusted their children and we were successful in transferring assets about 8 years before they passed. Both fortunately and unfortunately we never had to put them into long term care and therefore Medicaid was not an issue. These are difficult issues for people in their 60's and 70's. Planning becomes so much easier when people are in their 80's because they have plenty of experience to trust their children, but often it is too late.
30 plus years ago, when rehab said my Mother should go into a nursing home, the paperwork asked about the past 10 years of properties,finances,etc at least in Pennsylvania
This is my unpaid therapy. I just went through this with my mother for my dad’s nursing home care. I begged my father to do something with their money after my sister died 14 years ago. He wouldn’t listen, just ranting on about what he had. He’s gone now, but I’m still mad at him. Well daddy, I hope you’re happy that mom spent all of her retirement money on you. She retired from 29 years of nursing and raising 3 girls. The advice I always gave my patients, if you love your family, take care of your business. If you want to destroy your children, do nothing. We are not destroyed, because we are honest people, but most are not. I write my mom’s checks monthly for any bills, plus sending money to my daughter and other sister per the lawyer’s instructions. I need nothing, but to do right. I am dabbing my tears on my dad’s hanky. The only thing destroyed for me is my heart. Thanks for tolerating my rant. 💙
@Kara Fangmeier Thanks, Kara. Another appointment with the Senior Attorney on Thursday. Just wanting to do everything that is instructed by the law. I appreciate your words of understanding.💙
My father did the same thing only he screwed his wife (he was divorced from my mother) who is now stuck with the bills he created. He also screwed his kids because the estate cannot be settled until all the debts are paid. Settling the estate now would mean his kids and wife would be responsible for his debts. So the estate sits in limbo until his wife dies or pays everything off. Before he died I tried many times to talk to him about this and all he did was make fun of me for bringing it up. So I know what you're feeling....Good luck to you.
@@chuckwyble7719 Thanks for sharing your thoughts. Get in touch with a senior attorney to make sure you’re not paying for anything that you shouldn’t. If it doesn’t work out for you, know that you’ve done the best and most legal correct thing you could. 💙
Kids, get a job and start saving, quick spending your money on things that have no lasting value. That money is your parents, not yours, you didn’t work for it. Tax payers shouldn’t have to take care of your parents. Stop walking around with your hand out, get a real job, they shouldn’t have to take care of you the rest of your life.
Good video. Thanks for posting. Only thing additional I wish u would’ve addressed was the quality of nursing homes that accept or don’t accept Medicaid. Clearly there r differences between 6k and 15k monthly retirement facilities. They don’t all accept Medicaid or do they?
nursing homes pick and choose who they allow at their homes...if you are self paid or have nursing home insurance, you will most likely get to pick where you want to go....if you are on Medicaid, you don't get the choice....they could place you 30 miles out of town....also, if you are very obese, or have complicated medical history,or have dementia etc good luck finding a place....there are thousands of people wasting tax dollar money sitting in HOSPITALS because the nursing homes won't take them.....its costing millions of dollars to keep them at acute care facilities and yet that is where they sit......our whole system stinks....we are going to have to take in our elderly whether we like it or not , eventually....
Shouldn't that actually be illegal, since even cops have to have a warrant to look at your financial information? And 5 years ago? Isn't the point of insurance is to cover UNEXPECTED illness?
Cops need a warrant in order to be able to force you to turn over your financial information. It's not illegal for Medicaid to ask for (and require) accurate information when applying, because you have the choice to not apply.
A system designed to extract your last dollar and dignity.
How much dignity is there in cheating the taxpayers?
@@jamesbrust9959 are you assuming someone's diligent savings over decades is taxable? While others spend every dime on credit things they cannot afford? Wait until you are medicare age, or need help due to poor health. Give it to strangers crissing USA borders instead. That is the problem, and legal USA citizens when old, have "rules" like these to pillage when ill unable to work, thus Medicaid help, gers you at the end of your days. What a racket. That is how govt"makes money.
@@jamesbrust9959 Transferring your assets in a manner that _conforms_ to the very laws that will be used to determine your eligibility is not in any way, shape, or form "cheating".
How is making yourself pay for your end of life care unfair?
@@tomasgonzalez4819 exactly and the transfers don’t come without risk. Your just hoping the new names on the titles aren’t sued
Thank God for people like you. I need to start planning for my aging parents. I had no idea how screwed we're going to be.
I am so thankful that we rescued our parents, selling off their assets and having them live with us before their downfall. They lived happy lives with us and had need of nothing. We didn't know about these laws at the time. Now, our Mom is bedridden but otherwise in good health and we aim to keep her that way. When we brought her down to live with us, the doctor had her on 12 medications. Now, she takes only one and wouldn't need that if she would drink more water!
@@millerscorner2 your parents raised good children.
😢 you're better off going to prison!!
While working in a dementia long term care facility a 59 year old man got out and was attempting to commit a crime because he had been in prison and liked that better than the facility he was in. @@fjb6631
If you live in Michigan, look into what's called a." Lady Bird deed which protects the home from Medicaid seizure.
Its quite new and we are only one of 4 states.that have this.
I recently did this
After reading the comments again, I don't think you realize how much you helped people wrap their minds around this. We as a society have to figure out something better than this.
I live in Michigan. The first thing I did after my husband's diagnosis of early cognitive decline was to get our Family Trust updated and a guardianship for him in place. We protected what assets we could. I was aware of the five-year rule. We are a second marriage and between us we raised and educated four children between us in our first marriage. My husband lost all his first marriage assets in his divorce so we basically started over again at age 46 and 50. We are now spending down his assets first (those things in his name - his IRA, his pension, his truck while preserving my assets with the assumption I will live longer.) This is the best we can do.
Donna Allgaier: Ok.
Any questions?
Did you qualify for what you needed?
Sympathy, & Good Luck Wishes to you!
Will a family member (i.e. yourself, kids, etc.) be the guardianship?
@@dlemmon1276 In our case as a second marriage my husband son (from his first marriage) will be his guardian in the event anything happens to me.
Wow I am thankful I saw your comment right away. I have 2 different brain issues found out in April 2023 the week of my birthday. I'm 53 now. I never would have thought of anything to do like that. I hope your husband gets better. There is several different new founded or old just not know about treatments for the delay in progression of detrimental affects. Bless both of you 🫂🙏
When my Mother turned 89 it was time to find a constant care home for her. We tried to take care of her in our home as best we could, but with the onset of dementia we could not provide the care she needed as I worked out of state and my wife was the director of nutritional services at a nursing home. We were able to get her into the facility my wife worked at. My Mother was a resident there for 10 years until she passed at age 99 and 6 months. My wife checked on her daily, I saw her every Sunday, and I made every care conference. Being directly involved with the care your loved one is receiving assures that your loved one receives professional loving care. We will always be grateful to the staff that guided us through the process. It was a God send.
So happy everything turned out nicely for you but to say, " Being directly involved with the care your loved one is receiving assures that your loved one receives professional loving care," is disingenuous and cruel. Your mother received preferential care because your wife worked there, not because you attended care meetings and visited her once per week.
Nothing like trying to wade through 25 pages of legalese when you start your cognitive decline.
Exactly!
I have less and less love for my nation as each day passes.
So glad I found you. You break this gobbledegook down in layman's language so it's comprehendible. Thanks!
It is hard to pay $5,000 a month if you have $3,000 to your name.
Medicaid nursing homes are horrible. I used to go to our county home at Christmases to volunteer. That more than anything has prompted me to save, save, save.
In the early 80s it was a 3 year look back period. A friend of mine’s mother had a very bad stroke and her daughter took care of her at her house but she had 2 school age children and had no choice after 3 years to put her mother in a nursing home where she lived for about 18 years.😢
I think they changed it to 5 in or around 2003. It really sucks, 3 years would have been so much better in my father's case.
@@ChadBoss-qr4hl that’s our government at work to screw the middle class.
Grandmother and Mother lived together in Michigan. My grandmother went into a nursing home my mother passed away in 2003. In Michigan back then it was a 3 year rule. Their home had been in the family since 1963. My Grandma took her name off the house in 2000. My mother had her on her private insurance when she passed away she had to go on to medicaid. I inherited the house from my mom. The state of Michigan did a thorough check and sent me a letter stating that I was able to keep my mother's house by 1 day. Plan ahead, I used to have conversations with my mother about planning her estate. She did not think it necessary due to her being a widow and only having 1 child. My mom also had a life insurance policy with her mother's name on it. We had to prepay her funeral and set up the policy to pay what was not covered by medicaid. The remaining balance came to me after my grandma passed in 2005. I am just happy everything turned out ok.
i was in nursing home few months when my knee was out laying in my on waste for hours never will i go to another
I would love to see an updated video on this subject! Sept 2023 currently so anything for 2024 would be so appreciated!
I'm glad I got my parents on board with taking everything out of their names. They could legally stay in the house for as long as they needed no one could force them to leave . If it weren't for that the state would have got everything. Everything my father worked for his entire life.
Now you get the money, and they are in a second rate nursing home on welfare.
So....might I ask if you or your parents voted for candidates who want to cut Medicaid as a part of "wasteful government spending"? I'm assuming that what remained of your fathers life's work went to you and not the state.
When it gets to the point where I no longer can wipe my own ass it is time to do what needs to be done. Nursing home is not an option. I have no problem with assisted suicide or if that isn't legal take care of it myself. We treat our pets better than we treat people.
100% agree....I'm not going.
The living conditions are ghastly for people at that point in life…..4 people sharing a tiny bathroom in a cinderblock low ceiling room, shared by 2 people. Like the worst dorm room you ever saw!
Have to say, I agree. I don’t want to suffer. I’ll just go simply die.
@@Motherofthedeadi have a plan like you
@@arribaficationwineho32 I'll add to that usually one or more of them poops their pants on the regular. So even worse than the worst dorm room.
It would make a good follow up video to talk about Medicaid having financial rights to a spouses income to offset long term care costs. To plan ahead to avoid that, my husband & I divorced on paper a few years ago & in two more years will be off the hook for the other.
This is why I never married my boyfriend. We were together 9 years when he died. I STILL 2 years later get collection letters. I call them and let them know he's gone.
Is this fraud?
@@joycef8443 No, it is not. We were both in our sixties at the time and in excellent health and with no expectation of needing a 24/7 care facility in the future. We believe each spouse or partner in a relationship is responsible for their own finances and functioned that way from day 1 of our marriage. The laws for married people about their finances never suited us and finding out about the Medicaid regulations was the last straw.
So in summary....there is a 5 year rule of transfer before you apply for Medicaid and we should try to avoid. The transfer includes bank accounts, investment account, stocks, bonds, etc. The way to alleviate the issue is to 1. Have a Revocable Living Trust and 2. Have all of the assets in it?!?? Did I capture that Summary correctly??
Strongly recommend you check with an experienced estate attorney. When I posed your question to mine I was advised it was a no go because in an RT you retain control of assets in the trust.
Very confusing as your not clear you stated 60 months then said 6 months ? I m assuming 60 months is the rule ?
We're going to have to change our health, our health system, and the government!
The sad thing is no nursing home provides that amount care to anyone there. They individuals are not showed on a regular bases usually sponge bath with 1 shower a week the food is not good of quality and the treatment is even worse so why are they allowed to charge so much
I appreciate all of your videos! Thank You!
Very informative. Learned alot. Will pass on to friends and family.
Thanks for spreading the good news JL! 👍
Direct and informative. Thank you.
A relative of a close friend of mine did do that... transferred out all his and his wifes assets to.avoid Medicaid. He knew he was terminal a cardiac patient and was dying of congestive heart failure and was in Hospice care at home with visitng nurses. There was no cure for ailed him. His wife knew SHE had Parkinsons but was not yet in poor health otherwise. She did not need nursing home care for six years..so the family member they gave their assets to was able to keep those assets. It just depends how long the person lasts without nursing home care. One never knows. What was protected was under $100,000 bec they had cashed out their home before either got ill so they didnt have a huge net worth.
One more thing we get screwed on……Iam facing this with my parents…..
Worked 50 hours a week most of my working years and 15 to 20 hours moonlighting to get our modest row house paid off . Even worked a year pass 66 to get my car & crefit card paid off. Only took one cruise and a week vacation down the shore every summer. Never smoked or drank so I have over $250K in my 401K. Was hoping to leave most if our money to my one struggling son & sone money towards grandchildrens college but my wifes dementia us getting worst and appears that all of yhat hard earned money will go to eufes nursing home.
Can they charge $26,000 for a month? My mom's scan bills show these large expenses.
God bless you.
OK, bless you;
God Bless you!
You also provide a wealth of valuable knowledge! Thank you!
So nice of you
My wife has early on dementia. The house was mine before we married. She gets SS. I get SS and city civil service disability . What's up?
If I give all my assets to my children 5 years before the Look Back window starts and just keep my $3K pension will I be subject to a look back period fo the assets and Income I gave away. Again, pre-planing 5 years before the look back period.. it might be longer?
So freaking informative. Who knew. Watching all. Your videos
Heck lets make it 100 years for non government employees. While we're at it let's text the assets that are transferred and pay that directly to congressmen. Might as well tax on a surcharge for all services and drugs provided by government Medicare that has to be paid by the insured. And to show were compassionate will provide every Medicare recipient with two cans of dog food to eat every month.
This was very helpful.
NURSING HOME SUCKS
- thanks to system in USA.( from a well known MD who has seen operation of nursing home. Keep in home , never think of going to nursing home.
Audio problem??
This will not stay the same in the future. The system is criminal now
What if I have a Home and want it to got to my kids and I've been on Medicaid for over 10 years now and I don't go to a Nursing home
If the property is in the kids name to does that still work thank you
What about an ABLE account that is not normall included in net worth and can have up to $100,000?
We have medication these days to almost never let us die! So much suffering for so many more days on this earth that aren't worth it!
I agree 100%!! Why prolong life and not have quality. Do our best to live a healthy life and I have a faith that this is not my eternal home. Thank God!!
We always have the option to not take the life prolonging medicine. At 90 my Mom, while in assisted living, opted to stop taking her congestive heart failure medicine. A year later she was gone.
Bless you..😊
Does adding your children to the deed of the house along with your name on it. Does that constitute a name change
Is there an updated version of this?
What about money in your savings account or checking account. How can that be used? We live in the north and go south and rent in the winter is this something you can do with you're own money or would this disqualify you?
What if they don't go in a nursing home.
Bless you!
I don't own a home, I currently rent and live alone, less than10,000 in savings and checking. I need to pre-pay for my funeral. Should I take out life insurance to cover the cost, or burial insurance, or should I be making monthly payments to a funeral provider for my funeral? Thank you for any info you can provide.
God Bless You! and thank you!
QUESTION... Does transferring from my personal saving to my personal checking to cover an automobile repair get me penalized?
Laws need to be changed! That also applies to married couples, so it leaves the spouse broke. We had a good lawyer that got my mom all her money back from the nursing home, and left their money intact, after my dad was put in a nursing home.
What about dual accounts? 10 years ago my Mother transferred all her accounts to a dual account in her name and mine?
Medicaid Question # 455:
Have you ever watched a UA-cam video, on how to protect your assets from Medicaid ?
I'm thinking always keep larger amounts of cash in a safe place like a bank safety deposit. Or in a crypto currency wallet. What are the thoughts on having your home owned by an LLC that someone pays rent to. To avoid being a homeowner??
You wrote a year ago and mentioned possibly keeping large amounts of cash in a safe deposit box. If you did that, remove it now. A "bail in" federal law was passed years ago that allows banks to confiscate all valuables in safe deposit boxes, including cash.
If you die before taking the contents out, forget about your heirs inheriting the contents of the safe as the banks will confiscate everything.
Thank you .
God Bless You!
Bless you
Hello We are living in ct. and I have rental property which is income I need for our living expenses
How ever our residential home is almost paid off
My rental place is free of mortgage .
How can we save our rental and house and our banks accounts
How should be the strategy to be safe side .
I have heard spelt the properties between my wife , if need it for nursing we should buy medical bond with income awnuty bond what you advise ?
7 years now. changed in 2012
God bless you🙏🏼
Nursing homes only exist for one purpose make owners rich. So just like slumlords minimal input maximum take out. No cameras no unannounced visits hide hide hide! employees minimum wage often undocumented workers, much of the time a don't care get the shift over with because of least staffing possible, especially on the weekends. They make the menus sound delightful but what actually shows up a lot of dogs would turn up their noses to. Some are better than others some should be have the owners forced to endure. Medical care well what do you think of this. blood sugar levels approaching 350 response "that's okay" blood sugar levels at 400 response "well we will call the resident doctor" And this is when the diabetes IS noted on the medical records and charts. Talk about a legal scam! No wonder nursing home have the rep of "The place you go to DIE!"
Does anyone know if this would apply for all medicaid payments or just long term medical. I had cancer in 2018 and im sure jt was expensive
Depends on your state
Bless you......
Nursing homes are, unfortunately, more likely by FAR, to be expensively horrible places to put a loved one. Regardless of their pamphlets, mission statements and things they “officially state” as their rules. Short staffing, poorly run, and uncaring, unvetted people who are rushed, rough and unable to give the care they would like to give, at best, and harsh, cruel and uncaring, or even abusing at worst, are *the norm.”
That you pay through the nose for this type of “care” is flatly disgusting.
If you are forced to have a person you love in care, because yes, at times you simply can’t do the care on your own, then visit daily. Be alert, be a pain in the staff’s ass by asking questions and being proactive. I say this as a nurse, working in the field for over 26 years.
And the owners live in mansions
as a retired nurse after decades of working, not in a nursing home however, if you want to po the staff just try being a pain in the ass day in and day out.....the patient will be ultimately treated as an iceberg.....better yet, visit often, HELP when you can, like feeding your loved one, or brushing their hair, or their teeth......if you could save the staff even 10 minutes of work they will appreciate you and treat your loved one better....
@@leelaural but the job of the staff is to provide personal care and the family is paying for personal care plus feeding. Family is paying for personal care
Thanks. It's time to go hide then. I'd rather suicide than go to one
@@leelaural If you are a nurse, and state publicly that if a resident’s family is a pain in the ass, that their loved one will suffer for it by staff taking it out on them, then that’s a big problem, and even MORE reason for family to be there daily. . When I say, if you are FORCED to put your loved one in care, then visit daily and ask questions and be a pain in the ass, I mean it, in the way that “some” nurses seem to feel it’s a pain in their ass when family insists on answers, and doesn’t just accept answers that don’t add up, or family who point out care omissions, (like, “mom’s teeth haven’t been brushed today”, or “why is she in the same dirty clothes she was in two days ago?”)
Family needs to be alert and to let the staff know that they are looking out for their loved one. No one said for the family to BE asses; one can ask these questions and have a heavy presence without being mean or rude. I DID (and do!) work in some of these places as a nurse traveler , and I always encouraged family to be very proactive and present daily. Sure, they can also be helpful. But they are paying for US to care for their mom, dad, etc, and paying a LOT…. so, we should be doing it right.
Bless you
Our healthcare system isn’t broken. Allowing insurance companies to run things ruined it. Years ago if you were married and you both worked, the overlapping insurance meant you were covered 100%. You didn’t get money back, between the two policies you just didn’t have a gap out of pocket. This is how evil they are. I worked, my insurance covered 80% of my healthcare and had spousal benefits with the same coverage. Husband worked and his insurance was almost identical….80% paid for both of us. In fact we were over insuredThen they did something I think was illegal (basing that thought on conglomerates like Bell Telephone was doing). They decided that you would both work, and get insurance. The NEW policy is like this. One policy pays 80%, leaving you with the 20%. the 2nd one will pay only part of that remaining cost. This happens so they can take your money
Yes, I remember when we were over insured and they tried this when we had our first and only child. We fought them and got full coverage and got $600.00 cash to buy a crib.
😊
Coordination of benefits is not new. Even in the 1970’s the primary carrier paid first. Then the secondary carrier paid the balance, except for non covered items. Health insurance was never designed for people to make money.
@@lindap.p.1337 sure it was. Have you ever in your entire life seen insurance companies having a bad year? The secondary insurance doesn’t cost less for only paying 20%
Our Health Care is Capitalism 101.
Word from an old RN-there is a advantage in taking care of people at home.
And yet, not everyone can do that...
@@joshuapk9808 and yet few to none want to do that, people are ALL the same parents are a cash cow, a pile of money, " Mom DO SOMETHING !! or I will lose MY MONEY!! lol good.
@@joshuapk9808 My ma did that worked Great .HC apartment Then Polish Lady just 12 years. Ma Paid for all of it.
The govt will pay you, if taking care of an elderly patient.
Indeed.
Most people……most people don’t even know this information. I’m getting a crash course learning experience in this mess.
My Mom had to go to a nursing home for 'rehabilitation' after a fall. Two months later, we brought her home to find that 'they' had not told us of the bed sores on her back and both of her heals had peeled off from the bone. Never again will we allow her to go into a nursing home; ever. Now, we cannot leave her alone which means someone has to always be here, but better that then to have them kill her off. Not all nursing homes are like that, but there are in this little town. The waiting list in a very long one in this state and no one can choose a nursing home unless, of course, they are wealthy and can pay off those in charge. It's a system to defraud the elderly and their heirs and it needs to be stopped. I've seen what these nursing homes do to people and how people lose all dignity in those places. My father-in-law had to go to one when he had stage four cancer and when we went to visit him, he was so darn sick from a urinary tract infection that we didn't even recognize him. It was caused by the catheter which apparently wasn't properly cleaned. It sickens me to know that people suffer at the hands of others like that. Look what Cuomo did to the elderly in NY - he has blood on his hands as he purposely killed off a lot of Moms and Dads.
Ithere are good homes and bad ones. Sometimes patients that enter should really be in hospice care. Cuomo is a Democrat. Democrats are the party that better with human issues than are Republicans. I thought was not so bad. But I don't live in NY. This atty is essentially telling the audience how to dispose of assets over a required period of 5 years. That accomplishes "maming themselves indigent" so they can avail themselves of Medicaid. I would think with all the taxes these people have paid and how they have spent their lives contributing to society that they are more worthy of some end of life assistance?
@@JaimeGarcia-sg9xj There are botany good nursing homes!!! They are cruel and do not care for the elderly. I have lots of history through my parents and health care. Unless you plan on letting them die a horrible death stay away from nursing homes ! B
I had to leave long term care as a nurse because it kills you not to have the resources and staff to provide the quality of care that these folks deserve. The margins are to tight, with out enoygh regular staff they use travel agency staff, many of whom are wonderful nurses and aides, but they dont know the residents and thays so important. Taking care of my grandfather is why i became a nurse. I think the home i spent 6 years working at was better than most but i was still ftequently frustrated that the residents seemed to be second in priority to profits. And the place still was usually in the red.
God forbid there’s no family to pop up regularly. The patient will rot.
A lot of Nursing Homes are for profit so they skimp on the care
Yea, we wanted to buy our mom’s home after she passed away. Medicaid said we had to pay full market value. The home needed a lot of work but that didn’t matter.
We let it go and it went into auction and the home was sold for penny’s on the dollar.
That was the pits.
You should have bid on the home at auction.
@@tenabarnes3269there are companies who have cash to buy houses.😢
Wait, something about this doesn't make sense. If the home sold for pennies on the dollar, then you didn't get market value for it, so were you ALSO penalized by medicaid on top of having to sell the home? Just asking because I'm facing a similar situation albeit with a vehicle not a home.
@@ChadBoss-qr4hl If we had sold it, the money would have been taken by Medicaid so we didn’t pursue that route.
There was also a mortgage on it and we couldn’t see any sense in keeping the payments going if we couldn’t sell and keep the equity after doing the repair work or buying it for less than market and then doing the repairs.
It became such a hassle with Medicaid that just gave rather than take a chance of getting caught in something really bad.
Medicare went back through every financial transaction that occurred for five years before and they questioned everything.
So, what happened was the bank foreclosed on the home and then they auctioned it off.
Auctions are to the highest cash bidder. Acrual value is not a consideration. See tax sales info.@@ChadBoss-qr4hl
I’m 63, healthy for now. I’d rather just end it when time comes
I had already decided I'd take my Mom home ,and care for her myself. I did that while nursing a 3 yr old and a 4 month old for 9 plus years.
what if you go before she does?
What are you gonna do if she gets alzeimers and becomes combative that you cant deal with
This was over 35 years ago. It didn't matter to me,she was my Mother.
@@susananderson9619 you were lucky to be able to do that I tried, but it was not safe to leave my mother home alone. She actually enjoyed assisted living where she had activities and friends and the sundowners didn’t bother anybody if she was up at 2 AM. Everybody’s situation is different, so please don’t judge others.
What did I say that made you think I was judging any one else?
24 hour private care, 375 days a year at a meager $15/hr comes to $131,000 per year. I have known dementia patients who need that kind of care for multiples of years. The longest was 11 years. Add to that groceries, utilities, medications, and day to expenses incurred in your own home and pretty soon even the most robust retirement account is wiped out. It usually falls to one child to suspend their life and try to do the impossible for mom or dad for years. There are no easy answers and different diseases have differing levels of cruelty. Estate planning is essential before these times occur. I had a friend with no immediate family who just stopped eating as his disease progressed and finally got admitted to hospice if he would private pay. He smiled the day before he died and said, “if I can die before next week, I’ll save $8000.” He always loved a bargain. He was lucky to have enough in the bank AND a disease that allowed him to do that.
"It usually falls to one child to suspend their life and try to do the impossible for mom or dad for years."
That's me, right now. It really sucks.
The caregiver gets $15/hr but you pay at least double that amount to the agency who provides the caregiver.
I'm always the last to know 😤 when did they add 10 days to the year 🧐
I see a lot of Dementia patients that linger for years as FULL Codes with multiple hospitalizations , low quality of life but their families won't let them go. Last week I had a Resident spend the last month of her life going out for 2 blood transfusions before finally being put on Hospice the last week of her life.
Well, if you go to prison for fraud then you won't have to pay to live in a nursing home will ya? Plus you can leave your home to your kids and have better conditions for living than in a nursing home, 3 square meals a day, a gym, your own room, free healthcare and everything.
Wow.
When you go into a long term nursing home and the state pays for it a lien goes on the house that person owns and the money that the state paid gets paid back first when the property changes ownership.
They can't go after your primary home?
But you may become someone’s girlfriend by force, so pick your struggle wisely.
@@DocZoidberg549They can and they will.
My plan is to walk the Appalachian Trail at that time
Ah. Excellent idea. It starts or ends in my state.
That's a great plan unless you have a stroke or something and you can't wipe your own ass let alone take a walk in the woods.
@@jimbull6630 If you're going there to die, it doesn't really matter if you can wipe your own ass.
@@mrsd1095 If your senile do you know or care when you have a dump in your diapers?
Why does Medicaid have so much power over an old person.?
Here’s something that is just pure truth and it is unforgivable.
If you are white and American and you apply for Medicaid because you are elderly and need to be in a nursing home, the government will do the equivalent of giving you two middle fingers, insulting you, and punishing you financially. Then they will give you impossible or very unrealistic stipulations to complete before denying you three times, then maybe-JUST MAYBE, if the planets align, it’s a leap year and you’re still alive at 90, THEN you can get approved.
BUT…..
If you’re an illegal, you get an instant check and pre-approval for it all. Your biggest problem is deciding on the amount to make out the blank check they give you. You have one, MAYBE TWO pages of paperwork and that’s only to confirm where your money goes so you don’t get inconvenienced.
This makes me vomit.
You should touch on the gifting rules and how they impact Medicaid.
Work your A - ! Off all your life’s, then you can’t even give things or money to your children!!!!! My late husband and I should of just blew all our money and didn’t give a darn about trying to leave something to our Family. No, we worked hard our whole 42 years of marriage. Now, God forbid it can ALL BE SUCKED UP by a nursing home!!! I will make a plan NOW!!! Thank you for the info. My sister lives in Washington state, says it’s 2 years in her state.?
Those in charge of 'us' have found and made laws to make certain that all we have is given or taken by them. It's what evil does.
As a taxpayer why should I have to pay for your care, if you have money ?
Look into long term care insurance. Don’t depend on anyone to step up if need be
@@SandfordSmythe sometimes the money that people have is not quite enough
Dont you want to pay your way? Did you want the rest of us to pay it for you?
Paul, I am disappointed you and so many Americans believe that it is unfair to ask all citizens to use all their financial resources before asking for the government (aka THE US TAXPAYER) to pick up their bill.
First, I disagree. Most all people I come into contact with have no idea, absolutely no idea what a skilled care nursing facility costs. They also have no idea what an assisted living facility or even an independent senior living facility costs. Most Americans have only a very vague idea what it costs to live in any kind of facility outside their own home or apartment. There’s always “shock” and dismay when the reality hits them.
But, it angers me that attorneys like you peddle information on how to game the system, how to get someone else - like ME, the Taxpayer - to pay for their long term care, when in fact, THEY have the resources to do it themselves and simply do NOT want to do so!!! Folks, why should the taxpayer pay for you, when YOU have the resources to pay for your own care. Is there a rule or a law written somewhere that makes it OK to hide money and resources, so you don’t have to pay?
Boy, am I on a rant.
I've warched many of your "lessons ". You provide a wealth of information simply for the cost of taking time to watch your videos. I'm sure a person would need an actual in personal attorney to work through the details but you certainly create a fantastic starting point.
Thank you for your time and expertise. I'm in ct , so 5 years before total wipeout good to know. Donate all to a good cause
Simple equation, work and pay taxes your whole life and at the end the government gets what should belong to your family. Sneak into our country, never put dime one into the system and at the end Uncle Sam pays for everything. No matter what political party you belong to, what sense does that make? Social security is going broke. Simple fix, stop giving social security to people who never paid into it. I never finished college and I was able to figure that out all by myself.
So basically you want the tax payer to pay for your care, so you can keep it to give to your family. In the past the family would be asked to pay for your care after you paid.
I was in special Ed class all my life. I have low syndrome and had a couple of jobs that didn't last. I am not fast in doing anything .having to be fast in anything thing or a job, my mind goes blank on me. Sometimes, I feel so stupid. But I do try so hard to do things . I enjoyed helping people when I can. I have medicaid all my life. They said that when I turned 65, I will get medical with medicaid . There are times when I get confused with all the different paperwork. Thank you for listening to me. Take care, everyone ❤😊
Who wants to go into a nursing home. They are horrible. 2 people per room, in bed and gotten up for meals and then back to your bed, everyone in diapers changed typically every 4 hours, one shower per week done by whoever the shower aide happens to be that day, bad food, smelly, depressing, shelved until death. People end up in nursing homes due to hospitalizations that end with the decision that you need to go into a rehab facility which is just a glorified name for a nursing home because you can no longer care for yourself. The hospital will drain your savings the nursing home will take what is left including your home and then you end up on medicaid which will afford you the worst nursing home experience you don't want to imagine. Better to refuse treatment other than pain management when you get the big diagnosis and passing away at home. The hospital is only going to give you a few months more and a lot of misery.
Or move to a state that has a right to die law. If you are terminal and have less than six months to go, Doctors can give you life ending medication, which you take on your own. You have to be in sound mind for this help.
we have a sick twisted system, middle class folk who "do things right" and skimp and save and are thrifty and build up something for their retirement and their children, get wiped out by this vicious meat grinder of elder care costs. poor people are just as poor before as they are after, rich have armies of lawyers and accountants sheltering their assets. its only working class families that get screwed.
It’s this horrible ……..
I often do real estate appraisals for Medicaid cases. Medicaid will say their home is worth $300,000 however the elderly sometimes can't maintain the home and it is in poor condition and not worth $300,000. Medicaid never looks at the house. They use online information to value it.
I do an actual appraisal so the patient or heirs are not liable for the difference in sales price and what Medicaid says its worth. The appraisal is particularly helpful when an heir wants to keep Granny's house in the family.
If you get the appraisal before you transfer the property its pretty easy. If you get an appraisal after you transfer the property you may end up in Administrative law court where you have to hire me as an expert witness and an attorney. Its not a tough case but will probably cost you $3,000-$5,000+/-
I am a State Certified General Real Estate Appraiser in NJ.
Currently on NJ Family Care Health Insurance (NJ Medicaid) I`m single, retired and 64. Will apply for SS in 2027 at my FRA. I`ve been on this program for a few years due to a reduction of income. Prior I was on Obamacare that I paid for monthly and prior to that I was employed that included free health insurance. My question is... I own my own home, over 25 years, and will turn 65 in May of 2025 and will sign up for Medicare accordingly. Taking a lump sum pension next year may disqualify me to continue with Medicaid (not sure). If I were to sell my home sometime in the next few years and downsize, and need to use the proceeds of the sale to live off of, will NJ Medicaid "estate recovery" take my money then or when I pass away? Just doing some financial planning in advance. Thanks
Another great program to educate the public on the need to plan ahead early.
Thanks Again! I don't live in Louisiana but I'm still learning really valuable stuff from you. It is a blessing to find someone who is willing to share such knowledge without trying to be a "know-it-all". You clearly warn us we need to pursue further help & WHY! Thanks Again! Patricia in FL
Maine is going to 7 year look back soon 😢
Are donations to non-profit groups considered a transferred resource that would cause the 5-year penalty to be put in place? I tithe to my church and make donations to help support 4 children in other countries, etc. Thank you for all the great info!
You will be penalized for all of those contributions. They are not exempt from the lookback rule.
My mom got long term care insurance years before she needed it and she did wind up needing it.
We bought long term care insurance when our term life insurance ended. The premiums are reasonable, considering how expensive nursing home care is! We don't want our kids to have to take care of us, or pay for our care if we run out of money.
If your estate planner gives you a blank stare when you ask if the plan accounts for Medicaid....
Very educational. My friends dad just went into a nursing home and my friend now has no inheritance because her dad failed to plan ahead! It happened quick and everyone was like “What!” No clue? I am shocked how people who can afford an attorney just put it off. I guess thinking it can’t happen to them.
I think sometimes the parent doesn't trust their child or trust their childs spouse so they don't want to give away the money in case they need it.
Honestly as aging parents with a sizable estate.
We did not save it for our kids and they want us to enjoy.
2nd a nursing home for anyone is a death sentence. Yet for you to see only the money as inheritance rather than a cushion to make it as comfortable as possible on our exit.
Take care of your loved 🥰 ones. Nursing homes are an easy way to sweep your loving parents out of sight.
Pay for home care!!
@@retiredgamblers3517 Sorry I said that the way I did. Of course the inheritance is not a main focus, but most of us would like to leave something for our children. Whatever we do we need to plan ahead.
@@janicescott7338 no apologies needed. it's why this is such a difficult conversation to have.
@@Norm475 As a former Attorney, this is what it always boiled down to - control of assets. Very few people will give up control of their assets until it is too late. Fortunately my parents trusted their children and we were successful in transferring assets about 8 years before they passed. Both fortunately and unfortunately we never had to put them into long term care and therefore Medicaid was not an issue. These are difficult issues for people in their 60's and 70's. Planning becomes so much easier when people are in their 80's because they have plenty of experience to trust their children, but often it is too late.
30 plus years ago, when rehab said my Mother should go into a nursing home, the paperwork asked about the past 10 years of properties,finances,etc at least in Pennsylvania
🎉Pennsylvania, don't live there. That state requires children to pay a parents nursing home bills. NY State does not.
This is my unpaid therapy.
I just went through this with my mother for my dad’s nursing home care. I begged my father to do something with their money after my sister died 14 years ago. He wouldn’t listen, just ranting on about what he had.
He’s gone now, but I’m still mad at him. Well daddy, I hope you’re happy that mom spent all of her retirement money on you. She retired from 29 years of nursing and raising 3 girls.
The advice I always gave my patients, if you love your family, take care of your business. If you want to destroy your children, do nothing. We are not destroyed, because we are honest people, but most are not. I write my mom’s checks monthly for any bills, plus sending money to my daughter and other sister per the lawyer’s instructions. I need nothing, but to do right. I am dabbing my tears on my dad’s hanky. The only thing destroyed for me is my heart.
Thanks for tolerating my rant. 💙
B
@Kara Fangmeier Thanks, Kara. Another appointment with the Senior Attorney on Thursday. Just wanting to do everything that is instructed by the law. I appreciate your words of understanding.💙
My father did the same thing only he screwed his wife (he was divorced from my mother) who is now stuck with the bills he created. He also screwed his kids because the estate cannot be settled until all the debts are paid. Settling the estate now would mean his kids and wife would be responsible for his debts. So the estate sits in limbo until his wife dies or pays everything off. Before he died I tried many times to talk to him about this and all he did was make fun of me for bringing it up. So I know what you're feeling....Good luck to you.
@@chuckwyble7719 Thanks for sharing your thoughts. Get in touch with a senior attorney to make sure you’re not paying for anything that you shouldn’t. If it doesn’t work out for you, know that you’ve done the best and most legal correct thing you could. 💙
What are you talking about? Makes no sense.
Sorry, I understand now.
Kids, get a job and start saving, quick spending your money on things that have no lasting value.
That money is your parents, not yours, you didn’t work for it. Tax payers shouldn’t have to take care of your parents. Stop walking around with your hand out, get a real job, they shouldn’t have to take care of you the rest of your life.
Only kidding,just found your channel today and have been on it for two hours. Great info. I’m in my early 70s and it’s very informative.
😂 Gesundheit! Thanks for this very important information. New subscriber.
Good video. Thanks for posting. Only thing additional I wish u would’ve addressed was the quality of nursing homes that accept or don’t accept Medicaid. Clearly there r differences between 6k and 15k monthly retirement facilities. They don’t all accept Medicaid or do they?
nursing homes pick and choose who they allow at their homes...if you are self paid or have nursing home insurance, you will most likely get to pick where you want to go....if you are on Medicaid, you don't get the choice....they could place you 30 miles out of town....also, if you are very obese, or have complicated medical history,or have dementia etc good luck finding a place....there are thousands of people wasting tax dollar money sitting in HOSPITALS because the nursing homes won't take them.....its costing millions of dollars to keep them at acute care facilities and yet that is where they sit......our whole system stinks....we are going to have to take in our elderly whether we like it or not , eventually....
Shouldn't that actually be illegal, since even cops have to have a warrant to look at your financial information? And 5 years ago? Isn't the point of insurance is to cover UNEXPECTED illness?
Cops need a warrant in order to be able to force you to turn over your financial information. It's not illegal for Medicaid to ask for (and require) accurate information when applying, because you have the choice to not apply.