what steps need to be taken, financially, before entering mother into nursing home?

we have to put her in soon and don't want her assests to be used to pay for the nursing home. should we go ahead and try to sell her home, automobile, etc? or put assets in my name? she can pay for awhile, but who knows how long? not trying to get out of it for free, just don't want her to lose everything. please help! thanks.

Update:

hey people, you're assuming the worst w/o knowing any facts. her doctor tells us she has to have 24hr care that me or my sister cannot provide. i'm trying to find out this info. because she wants to get her financial affairs in order, she wants to take care of funeral expense, etc. we're doing everything we can do to help her and ease her mind. gaining anything financially from this has not entered our mind. she doesn't have any money, she has a trailor and a older car. that's it. jeez, not everyone has an agenda. we are devastated by this and until you go thru this, do not judge and keep your negetave comments to yourself.

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  • 1 decade ago
    Favorite Answer

    This will be a lengthy answer so bear with me and I hope this helps you.

    First, the answer you were given by the funeral director is partially correct. Medicaid will do a lookback of 3, 5, and 7 years depending on the assets and how your state runs its Medicaid program. Each state has minor differences in how they administer the medicaid program.

    If assets are simply transferred to someone elses name, bought for a dollar, etc... this could penalize your mother. They may require those monies to be provided. Any money she has in bank accounts and monies from the sale of assets MUST BE USED FOR HER. This can be for paying medical bills, burial funds, etc... This money can also be used to buy things for her benefit that DO NOT cause her to gain another asset. These can be clothing, bedding, things she needs for essential care. Do not simply make withdrawals from her account. They may require a record of where this money went to.

    Any insurance policies cannot be revocable. Any stocks, bonds, CD's, insurance with cash values, must be liquidated.

    Medicaid will usually give you a reasonable amount of time to sell property, like her trailer. Once it is sold, the monies from this sale will have to be used to pay her stay at the home.

    Each state has a limit on the amount she can have EACH MONTH in assets. This amount cannot go over that amount. For example, in West Virginia it's $2000. To give you a simple way to show how this works. She has a savings account with $500. She gets a total of $1000 per month in retirement or other monetary compensation. Medicaid will consider this $1500.00 in assets which are calculated each month.

    Medicaid requires that her monetary gain in retirement or other sources be paid to the nursing home. There is usually an amount she can keep which is considered "personal needs" money. This is usually kept in an interest bearing acount in her name at the nursing home (or it can be kept by the family but Medicaid will require annual to semi-annual records to show the balance and spenditures). Another example: Her monthly income from whatever source is $1000. Medicaid will require you pay the nursing home everything except the personal needs amount (which is usually $100 or less depending what state you are in). You would pay the nursing home $900. The balance for her care is MUCH greater than that and Medicaid usually pays an average of $5,000.00 per resident per month.

    The nursing home makes very little when medicaid is paying for someones care. Please don't make the assumption that the nursing home is making money on your mother. There are numerous ways a nursing home has to make money, and I can assure you it is not on Medicaid residents.

    There is an incerdible amount of information that you will most likely need and what I have told you is only the tip of the iceberg. Make an appointment with a Medicaid worker in your county. They can help guide you on what needs to be done. They are not out to take everything your mother has. It may seem this way but it isnt.

    A Medicaid resident is paid approx $5,000.00 to the nursing home each month for their care. If you consider that a resident may be in a nursing home for 5 years, the state has paid in excess of $300,000.00. All the state is trying to do is offset the amount of money they are spending. Most Medicaid programs work in the RED, and the ones that are in the black are very close to barely breaking even.

    Source(s): Director of Social Services for a Long Term Care / Skilled Nursing Facility
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  • Reagan
    Lv 6
    1 decade ago

    I feel bad that these people read so much into your question, goodness! You are just trying to do whats best for her financially!! And yes, all of her assets should be transferred to you and your siblings as soon as possible. The nursing home can look back 3 years to find out if any assets were indeed transferred, and then they can attempt to revoke them to pay for her care. I would also strongly recommend that you set up a burial account or name a funeral home as the beneficiary of her life insurance policy (if any) because the state cannot take the monies set aside for burial purposes. It is perfectly acceptable and smart on your part to plan ahead and make sure she doesn't lose everything she worked for all her life to a government funded agency. This tends to be a lengthy process turning things over, so I would suggest you get started immediately. Hope this helps and take care!

    Source(s): Licensed Funeral Director
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  • Anonymous
    1 decade ago

    I hate to tell you this but putting any of your parents in a nursing home is like giving them a death sentence. I have witnessed myself first hand that they are treated like sh#t! I saw a man shoved off his bed so the CNA's could make it. I saw a young CNA man hitting a senile old man trying to pick a fight, and I saw CNA's helping themselves to the residents personal properties. If you are thinking about it I would make sure I witness the workers first hand, then financially it can be paid by your parents medicaid or medicare. You must talk to the administrator of the nursing home for payment.

    • I have worked at the same nursing home since i was 16 and I am now pushing 50, so what does that say for itself. Yes there are nursing homes out there that do not have quality care. So my big suggestion is before putting any family member into a home, you need to do your homework.

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  • 4 years ago

    the two way the valuables could be taken in the experience that your mom relies upon upon Medicaid for the nursing homestead fees., assuming that she transferred it to you decrease than 5 years in basic terms before her wanting public help. Failing to record the deed would not effect that. The state can and in all risk will connect the valuables to assist pay for her care. If the circulate happened extra effective than 5 years in basic terms before the desire for public money, failing to checklist the deed may be a serious blunders on your section. The state would effectively argue that no certainly circulate develop into meant as evidenced by potential of your no longer recording the deed and that it develop into nonetheless your mom's materials and subsequently situation to attachment for the charges of her care. short answer is this: you would be able to desire to debate this with an lawyer.

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  • 1 decade ago

    i had this problem working with my mother, we had to spend down [to receive state aid], transfer title to house and spend down $$ or transfer it to a account with family's name.......state medical insurance will not pay a dime unless person has under $5,000 to their name. a good idea is to talk with a lawyer to do it with no problems in the future. [i know you care about your mother] please walk though this nursing home [before you place her there]

    walk though it at different times, and glance in the rooms, the patients, are they laying in bed alot and sitting in chairs dazed, what condition are the rooms, any strong smells[that will tell you how good the care for patients are, good or bad....if possible talk to some that are active and get their suggestions, and ask what type of recreation and activity available for them

    [i say this because some nursing homes are good and some are not.........

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  • 1 decade ago

    It sounds like she already lost everything. Why can't someone in her family take care of her. You people just don't want all of her assets gone because you want to fight over them after she is gone. You people have to live with yourselves... She made sacrifices and changed your sh!tty diapers. Learn to care about those who cared about you.

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  • 1 decade ago

    she raised you gave you a home when ever you needed it feed you stayed up all night with you when you were sick and now that she needs you what you do shove her in to a dark corner and leave her shame on you here is your info even if i think you should keep her with you just use the link below

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  • 1 decade ago

    idk

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