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Author: 2gifts Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 5748  
Subject: Re: Gifting Date: 4/5/2005 7:56 AM
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I also don't understand what you are trying to do. If you are worried about having to use her assets to pay for her potential nursing home care, well, that's why she has assets so that she can get good care and not just whatever Medicaid will provide. If you want to give away her assets now because you want to preserve those for the family and have Medicaid support her, then I'd say you're too late for that due to the look-back period, and I'd say that this isn't something that I'd consider ethical since she does have the assets to pay for her own care.

I don't understand why you feel the need to distribute her assets now according to her will. She's not dead, and though her family probably wants to get their hands on the cash and house, it still belongs to her and should not be distributed til she's gone. That's why she has it spelled out in her will.

Even if the vacation house is worth close to a million dollars, she's still under the threshold for having to pay estate taxes.

So my question is what is your real issue? Are you worried about having to actually use her assets to provide her with a good life until the end so there's nothing left for the heirs? The heirs are not entitled to an inheritance, and your mom is entitled to have her assets spent on her to make her life comfortable. If you are worried about lowering the value of the estate to avoid estate taxes, that doesn't look like it will be an issue.

So what's the real question?
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