Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 5
I did that too, and the lawyer told Dad to:
- Buy a more expensive house, because real estate is excluded from Medicaid eligibility calculations, and
- Give the rest of his money to his grown children, who will of course set it aside and then later spend it on nothing but his care (HA! hahahaha).

We dis-engaged that lawyer.

Yeah, wow, no thankfully nothing that weird!

We are working through the division of assets process, and having her help us do that legally, while preserving as many assets as possible. Back-of-the-envelope calculations, we can preserve about 90K in assets immediately, then an ongoing savings from Medicaid partially paying his care.

Since we could be looking at a decade or more of care, we need that 90K to pay for our portion of his care, and we need Mom to retain as many assets as possible now for her own possible care later.

Meanwhile, besides your lawyer, there should also be a social worker at your dad's memory care facility who can help.

Yep, and on a really cool note* the new director of the memory care unit is a man Mom used to work with, before retirement, and someone she just LOVED working with. That was a pleasant surprise, and she visibly relaxed when we met with him.

* as cool as you can get here, I guess
Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.