The "what's On Your Mind?" Thread -2021

Mamanyt1953

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i wasnt laughing everytime i got home from work to find out my nephew wiped out my saved games on the xbox or ps4:rolleyes:
Mine, when he was very young, tried (more than once) to put his Eggo waffle in the video cassette player. Mind you, this was almost 40 years ago, and YES, an Eggo will fit in the port of a video cassette player. It wouldn't have been so bad, but being a very small child, he put the syrup on first. This is what happens when you HAVE to get to the bathroom NOW.

But it appears those days are gone too soon.
This is the time paradox caused by rearing small children...when they are so young, it seems like someone adds 30 seconds to every minute, the days can drag so badly...but at the same time, they take 10 days off of every month, and when you look back, you don't know where the time went.
 

susanm9006

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Just curious, can they still take it away if the homeowner sold it to a family member even for a token amount? So sorry your family had to go through such 💩.
There is a five year rule that says if the property was sold to a family member within five years of the time they need Medicaid they will be disqualified from receiving it until five years from the sale has passed. So, say mom sells her house to you and the following year needs to go into a nursing home. Medicaid wouldn’t pay for it until An additional four years have passed.

Usually when someone goes on to Medicaid a lien is placed on their property so at the time they sell it the lien would need to be paid from the proceeds before it could be sold.
 

Bubblesmom2014

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There is a five year rule that says if the property was sold to a family member within five years of the time they need Medicaid they will be disqualified from receiving it until five years from the sale has passed. So, say mom sells her house to you and the following year needs to go into a nursing home. Medicaid wouldn’t pay for it until An additional four years have passed.

Usually when someone goes on to Medicaid a lien is placed on their property so at the time they sell it the lien would need to be paid from the proceeds before it could be sold.
Every state is different, but I have never heard of this before and I have dealt with an elderly parent but never had any problems with money or medical billing because of his assets. Either way I wish you all the luck getting help. When in doubt call you state medical office
 

Willowy

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Just curious, can they still take it away if the homeowner sold it to a family member even for a token amount? So sorry your family had to go through such 💩.
Yep. Well, they don't technically "take the house"; that's probably a poor way to put it. What it is, is that you have to spend down all your assets before you qualify for Medicaid. You can have $2000 in assets and that's IT. Car, house, bank account, everything, cannot total more than $2000. And so, of course people would simply give all their assets to a family member to get around that, and that's why they have the 5-year rule. Anything you give away or sell in that time will be counted toward your assets. And if you don't meet the qualifications, you just don't get Medicaid.

It worked out ok with my aunt, she had a stroke but recovered, spent a few months in nursing homes and memory care, about a year in assisted living, but now she's fine and back at home. She has a lot of medical debt but she makes monthly payments and has no need for good credit so who cares. She signed the house over to my cousins as soon as she got out, and I think we're coming up on 5 years so if she ends up back in care now she should qualify for Medicaid without any fuss.

But if she had stayed in assisted living any longer, they definitely would have had to sell the house to pay for it.
 

MoonstoneWolf

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I never heard of the 5 year or 10 year thing. Maybe because Mom has enough money to cover being in AL? But I don't think it's a thing in Missouri. My cousin had similar to others here but never had to go through that. So I don't know. What the heck? It's 7:00 am and people are outside shooting off their fireworks? Is there a holiday this week that no one told me about? This gets seriously stupid and of course not having a police department at the moment makes it even more difficult to do something.
 
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AbbysMom

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I never heard of the 5 year or 10 year thing. Maybe because Mom has enough money to cover being in AL? But I don't think it's a thing in Missouri.
From Missouri Medicaid Eligibility: 2021 Income & Asset Limits.

It's important to be aware that Missouri has a 5-year Medicaid Look-Back Period. This is a period in which Medicaid checks to ensure no assets were sold or given away under fair market value in order to meet Medicaid's asset limit.
If you are planning to stay in the house will you be using your own money to pay for all utilities, taxes, insurance, etc? You'd be surprised at how quickly the money disappears. I am talking from experience. I had to have my mother committed to a geriatric psych unit in September and she moved into Memory Care at an Assisted Living facility in October. Dealing with her house, her, etc. has been most of my life since then. You need to speak to lawyer/financial planner that has experience with elderly law issues.
 

MoonstoneWolf

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Mom has never been eligible for Medicaid since she retired in 1985. As soon as she was 15 years old in the 1930s she started stashing away money in the bank for savings. That's what happens when a person grew up during the Depression, they learn and save. Plus her stock is good. I doubt at 98 years old she'll be around in 5 or 10 years, given her current health. She already spoke to a lawyer. And we never had this come up. And that was 2 years ago that she had all of the drawn up.

Also I had a huge fight with my cousin about this. I am not giving up this house ever. I grew up here, I'll die here. Not sure why everyone wants me to give up this beautiful house and lot (whether Mom dies living in this house or elsewhere). I would literally wither up if I have to go to an apartment. I don't do well with noise from other neighbors.

Meanwhile I need to schedule a doctor's appointment for myself for various reasons that I don't want to disclose: Thyroid being one of them. And the back is still giving me issues after 4 months. So something is wrong. Of course the doctors may just lie to me again like they did months ago. But I have to at least try. I'm getting to be a very useless human being in my current health.
 
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Willowy

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There are people who saved their entire lives and still end up on Medicaid. $60,000 a year for assisted living plus whatever other medical expenses aren't covered by insurance means your savings don't last long.

I'm sure nobody WANTS you to give up the house, just wondering if you're prepared for everything involved. If she passes away and leaves you the money you're probably set, but if she's in AL or a nursing home burning through her savings it could be an issue.
 

MoonstoneWolf

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There are people who saved their entire lives and still end up on Medicaid. $60,000 a year for assisted living plus whatever other medical expenses aren't covered by insurance means your savings don't last long.

I'm sure nobody WANTS you to give up the house, just wondering if you're prepared for everything involved. If she passes away and leaves you the money you're probably set, but if she's in AL or a nursing home burning through her savings it could be an issue.
Well my cousin sure wants me to sell the house. That's why we had the mentioned argument and he is no longer welcome in my life. But that's another matter. He's not even blood related (I'm adopted) and he's on my Dad's side not my Mom's. If it's only 60,000 a year she has enough for 10 years or more. She's not Keith Richards. I doubt she'll be here in 10 years AL or at home. That's what I keep saying.
 

Elphaba09

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Well my cousin sure wants me to sell the house. That's why we had the mentioned argument and he is no longer welcome in my life. But that's another matter. He's not even blood related (I'm adopted) and he's on my Dad's side not my Mom's. If it's only 60,000 a year she has enough for 10 years or more. She's not Keith Richards. I doubt she'll be here in 10 years AL or at home. That's what I keep saying.
Maybe I missed it, but has she made arrangements to either sell you the house or will it to you? If so, I am assuming that you have the ability to maintain living there, so why would it matter what other people want you to do?
 

CatladyJan

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I never heard of the 5 year or 10 year thing. Maybe because Mom has enough money to cover being in AL? But I don't think it's a thing in Missouri. My cousin had similar to others here but never had to go through that. So I don't know. What the heck? It's 7:00 am and people are outside shooting off their fireworks? Is there a holiday this week that no one told me about? This gets seriously stupid and of course not having a police department at the moment makes it even more difficult to do something.
It is absolutely a thing in MO it's a 5 year rule I know this because my MIL is in assisted living in Chesterfield as we speak. My DH and I were supposed to be gifted her vehicle and take over payments or get our own loan, but the SIL's who have POA said it wouo yld affect eligibility in the future if she gifted her car to us.

Also, is it in your mothers will that you will actually get the house? Do you have POA? IF NOT, I would suggest you start looking into things as you may find yourself on the street.
 

MoonstoneWolf

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Maybe I missed it, but has she made arrangements to either sell you the house or will it to you? If so, I am assuming that you have the ability to maintain living there, so why would it matter what other people want you to do?
Because my cousin has become an idiot and likes to stick his nose in other people's business. But that kind of strayed, I suppose from the topic of the 5 year or 10 year law which I never heard of til mentioned on here. Not even mentioned in the legal papers that she had drawn up. She willed it to me. I'm still not understanding. Why would I need to make payments on a house or car that are paid off in full. And again the lawyer does not have the 5 year rule. I just talked to him and he never heard of such a thing. Yea what would be different maintaining after she goes then what I'm doing now? I'm used to doing stuff with broken limbs so old age won't slow me down. And broken limbs are from either my clumsiness or tripping over the cat. Not from Mom although I get threatened a lot with her cane
 

CatladyJan

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Because my cousin has become an idiot and likes to stick his nose in other people's business. But that kind of strayed, I suppose from the topic of the 5 year or 10 year law which I never heard of til mentioned on here. Not even mentioned in the legal papers that she had drawn up. She willed it to me. I'm still not understanding. Why would I need to make payments on a house or car that are paid off in full. And again the lawyer does not have the 5 year rule. I just talked to him and he never heard of such a thing. I'm through with this conversation though.
Medicaid 5 year rule wouldn't be in any legal papers you would only find out if you needed to apply for possibly the future. Do you have POA? I would check those legal papers to make sure they are still legit.
 

Willowy

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Why would I need to make payments on a house or car that are paid off in full.
For the house, there are taxes. Usually a few hundred a month, could be more depending on the area and value of the home (I saw a house for sale in Sioux Falls that had taxes of $6,000 a month! More than I make just for house taxes!). Insurance, also a few hundred a month or more. If she has financial people they probably take care of that. Upkeep, emergencies, etc.

Might be inheritance taxes? Depends on the state I think.

For the car, insurance and registration. Maintenance. Cars don't last forever. That kind of thing. A lot of people get blindsided because their parents didn't talk about it beforehand.
 
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