Domestic Violence situation. Elderly aunt called the police and 2 years later her only son was put in a Nursing home due to dementia. My aunt who is 92 now is wondering what is going to happen to her home when she dies. She wants to leave it to her son. I told her she can't do that because he is on Medicaid and he can't have more that $2000 in assests. He is currently in a small room with 3 other men. Could he be eligible to be upgraded to a semi private room with his inheritance and then go back on Medicaid when the money runs out? His mother's home is probably worth $100,000. I told her she probably needs a power of attorney because her son won't be able to conduct any financial business. Am I correct? Any advice that I can give to my aunt on how to proceed?
THIS IS IMPORTANT, your Aunt may need her own Assisting Living later on. Unless she has other financial means, she would need to sell her house and use what equity there was in the house, to fund for HER own care being self-pay.
I can understand her wanting to leave her house to her son, and she can still do that in case she never needs to use an Assisted Living or Nursing Home, but if she has to sell the house for her own care, the house will be gone when the Will is read.
Oh, as for Power of Attorney, does your cousin has his own Power of Attorney? If not, he needs to get one as long as he can still think clearly. If he can't, it's too late. Or is there a Guardianship for your cousin?
My aunt is rethinking about her own care and how her home would be that solution.
I appreciate your honesty, and giving me some clarity.