No. of Recommendations: 4

In essence its this;
a) create a properly designed trust which will take your assets out of your name and control, but feed them back to subsidize your lifestyle costs,
b) gift all non-exempt assets to a trusted person,
c) that person then funds the trust (this "one off" step is apparently a necessary dance.)

But what about that pesky 5-year look-back period?

As far as item B, I am sure there are lots of folks who tried that, and then ended up without the assets at all because the recipient wasn't as trustworthy as they thought, or something outside of their control happened that put those assets at risk like some sort of debt needing to be repaid or a lawsuit, just to name a few.

Personally, I have a real problem with someone doing all those gyrations so that we, the tax payers, can pay for their care while they leave their assets to someone else to inherit. And yes, I realize that if it is beyond the look-back period, it is legal, but I still think there is a lot of risk here for the OPs mom, and I'm not so sure she realizes it in trying to be greedy about keeping her assets.

As far as the nursing home care she is fearing, that one is easy. Just don't go to a nursing home, and there is nothing to be paying for, but she'll need someone (OP?) to take care of her instead in her own house or in their house. Or she ends up spending her assets to provide the level of care that she wants in the place of her choosing.

It's that part about having her cake and eating it too that I am finding challenging.

BTW, I have lots of recent experience with Medicaid-funded nursing homes as that's where FIL spent his last couple of years, but this is a man that had absolutely nothing, and he is the sort of person that these programs were designed to help. Not someone with assets, and yes, everything counts including those land contracts.
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