No. of Recommendations: 2
StockGoddess asks

My elderly mother (78) just sold some real estate to a commercial developer and banked maybe $500K.

is there any way to "shelter" that amount of cash from being eaten up by the old folks home if she ever needs to go to one?

It depends on how soon she ends up in a home.

Taxpayers have gotten wise to paying the nursing home bills for people of means. Most states have "look-back" provisions that go back five years and will disqualify you for Medicaid if you've made any transactions designed to make you look poor enough to get aid.

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