No. of Recommendations: 8
I've never fully understood the give away my assets so the government will pay for my nursing home concept.

First, you have to worry about 3 or 5 year rules.

Then there is the fact that you no longer have any assets, or hardly any. A nursing home is a pretty bare bones existence, it would be nice to be able to afford a few extras. Perhaps Christmas presents for your grandchildren. Perhaps your children will give you the money for these things, but that "dependence" is depressing to me.

I would also worry about the recepients of all my worldly assets getting sued, divorced, or dying. Better have a lot of trust in your son-in-laws and daughter-in-laws.

Another concern is that most of the facilities where Medicaid or other aid would pay the total bill would be not be the facilities where I would want me or mine to be.

For that matter I don't see any reason that I would want to leave any great amount of money to a family that would stick me into any such type of facility.

For those that choose this route I would like to say that as a taxpayer I see even less reason that I should be expected to essentially pay for anyone else's inheritance.
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