If my parents are getting older and I worry that if they go into a nursing home they will lose their home and camp, is there anything or any way to prevent this?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If my parents are getting older and I worry that if they go into a nursing home they will lose their home and camp, is there anything or any way to prevent this?
Ways to avoid the state taking parents property in case of going into a nursing home? They are 83 and 85.
Asked on August 23, 2012 under Estate Planning, Maine
Answers:
Catherine Blackburn / Blackburn Law Firm
Answered 12 years ago | Contributor
The answer to your question is "yes, there are ways to prevent your parents from losing their home and camp." This is an area known as "Medicaid planning" and Elder Law attorneys deal with it every day. The exact ways to protect your parents' assets differ somewhat from state to state. Your parents should consult an Elder Law attorney now so that all the documents are ready if one or both of them needs to go to a nursing home.
Although you did not ask, it is important that I raise this issue. Seniors should not give substantial assets (money or property) away. This may not only keep them from qualifying for Medicaid, it may leave them without Medicaid at the same time they are without personal funds to pay for their care. Medicaid "looks back" five years and will deny Medicaid to someone if they find "unqualified" gifts within those five years. This is a complicated area, and I strongly encourage seniors and their families to consult an Elder Law attorney before disposing of any assets.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.