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02-04-2012, 05:28 PM
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#31 |
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Donating 4WT Yakker
Join Date: Jan 2007
Location: Denver, NY
Posts: 8,097
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It's not the taxes as much as going to pay for nursing home care, or whatever. If I don't have anything in my name, Medicare will pay. If I do, they will take my money first, then go into Medicare. I would much rather Jessie got the house than the nursing home.
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02-04-2012, 06:22 PM
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#32 |
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Donating 4WT Yakker
Join Date: Sep 2006
Location: Central Texas
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Judy is right. If she has to go into a nursing home and doesnt have enough money to pay the monthly nursing home bill, Medicaid (not Medicare) will pay for it, if she doesn't have any other assets that could be sold to pay for nursing home care. If Judy still owned her home, then it would have to be sold and the money used to pay for the nursing home. When that money ran out, then Medicaid would pay. In order to keep the home, Judy would have to put the home in Jesse's name 5 years before money would be needed for a nursing home.
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 Gayle
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02-04-2012, 06:51 PM
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#33 |
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Moderator
Donating 4WT 18K Club Member 
Join Date: Sep 2006
Location: INDIANA
Posts: 21,625
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oh yes....I knew that...duh me. There has to be away around all that...there is for just about everything else it seems.
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To every thing there is a season, and a time to every purpose under the heaven. ECCLESIASTES 3:1 |
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02-04-2012, 07:14 PM
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#34 |
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Donating 4WT Yakker
Join Date: Sep 2006
Location: Central Texas
Posts: 5,717
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You would think there is a way around that, but other than giving the house to Jesse right now, I don't know of any - but there might be.
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Gayle
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02-07-2012, 11:52 AM
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#35 |
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Moderator
Donating 4WT 13K Club Member 
Join Date: Sep 2006
Location: Kansas
Posts: 16,069
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That's the way it is here too. I know that it stinks but before people are put on the state they should have to use their assets first. I don't like that idea especially if it were my Mom or family member but that is fair. I think that deeding over your house and assets ahead of time is a good idea if you want to leave things to your kids.
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*´¨) ¸.•´¸.•*´¨) ¸.•*¨) (¸.•´ (¸.•` ¤ Diana Baker ✞ You and I are friends.......
Always remember that if you fall I will pick you up...... After I stop laughing!!! |
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02-07-2012, 02:13 PM
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#36 |
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Moderator
Donating 4WT 18K Club Member
Join Date: Sep 2006
Location: INDIANA
Posts: 21,625
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I wonder if you could deed a house or whatever to your child/children and then have them sign some kind of legal agreement that you could live there until your death or placement in a nursing home? There has to be some way to do it. Yes...I'm still trying to figure out a way...lol
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To every thing there is a season, and a time to every purpose under the heaven. ECCLESIASTES 3:1 Last edited by Janet; 02-07-2012 at 02:16 PM. |
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02-08-2012, 09:00 AM
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#37 |
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Moderator
Donating 4WT 13K Club Member
Join Date: Sep 2006
Location: Kansas
Posts: 16,069
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It's something to ask a lawyer. I don't know how it works.
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*´¨) ¸.•´¸.•*´¨) ¸.•*¨) (¸.•´ (¸.•` ¤ Diana Baker ✞ You and I are friends.......
Always remember that if you fall I will pick you up...... After I stop laughing!!! |
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