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I. How We Work in Washington. Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services. APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
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Since Medicaid exempts a home when one spouse goes into a nursing home but the other spouse is healthy, it is better to own something rather than rent?
If an Irrevocable Trust is put together within the 5 year look back, Medicaid can still count the transfer of the assets to the Trust as a disqualifying transfer. And if that happens, being its an Irrevocable Trust, nothing can be touched in the Trust if one needs to pull out funds.
This is complex, best to talk to an Elder Law Attorney.
If Medicaid files a lien it would make things more confusing, but on the other hand they would not make you sell the home, ever. Even if you both needed care the house still would not need to be sold. It could be rented to provide additional income for the couple.
I came across this website today, very helpful with Medicaid questions.
https://www.medicaidplanningassistance.org
But you need to see an elder law attorney that specializes in Medicaid planning.
First, great that your thinking ahead but I think having a house would be more of a burden than an advantage.
When it comes to a Community spouse, assets would be split. The spouse on Medicaid will spend down their portion. The CS will not be made impoverished. There's more to this but thats basic.
Really, a house could end up being a burden. Upkeep, taxes, etc. I am 69 and if my DH passed or ended up in LTC, owning a home with all that would be overwhelming. If the Community spouse ends up wanting to sell, it has to be sold at Market Value. Proceeds probably having to be split. If Community spouse needs 24/7 care, her share of assets would be spent down. No SS or pension can be spent on the house. So, family members would have to pay upkeep and/or sell. The proceeds going for care.
I am still trying to sell my Moms house. As it sits, the tax leans increase. Medicaid now has a lean. It would have been so nice if Mom had downsized years ago. Then all I would have had to do was clean out an apartment.
Yes, I am torn about whether owning would be better or worse. Rents are so high these days, that I am afraid that the community spouse would have to live in something, well... kind of crappy. If we bought a townhome, we would have more of a say. I really appreciate everyone's answers. People on these forums are so helpful.
OkieGranny, this is something you need to talk over with an Elder Law attorney who knows how to travel the maze called Medicaid.
Please note each State handles their own Medicaid rules and programs. And what is in force today may be changed next year or ten years from now. It all depends on the State budgets, and if programs need to be cut or more funds are needed for Medicaid. It is us taxpayers who help fund Medicaid.
The best rule of thumb when it comes to renting or buying, use only one income. Thus, if a spouse should pass, the remaining spouse is usually living off of one income. When my Dad passed, so did his social security and his pension.
Thanks for your reply. Since I spent my entire life as either mom at home or granny on call, my Social Security is half what my husband's is, and whoever is left will lose my part. We are getting along OK now, but it's not like we have much left over every month for vacations or anything. I can see from all the replies that I will have to consult with an elder attorney.
Your assets are to be used for your care not to be shielded for inheritances. Medicaid is for those who are poor, not those who have assets to pay for their own care.
I agree that people should pay for their own care and my concern is not about leaving anything to our heirs. My concern is having enough money for the non-institutionalized spouse to live on. Medicaid takes half the couple's assets excepting a home and 1 car. If they took half our assets, the person left on his/her own might not be able to afford rent.
As far as I know, Medicaid will put a lien on the home. The house will need to be sold at market value and the money from the sale will go to them to pay for care.
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington.
Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services.
APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid.
We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour.
APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment.
You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints.
Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights.
APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.
I agree that:
A.
I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information").
B.
APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink.
C.
APFM may send all communications to me electronically via e-mail or by access to an APFM web site.
D.
If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records.
E.
This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year.
F.
You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
This is complex, best to talk to an Elder Law Attorney.
I came across this website today, very helpful with Medicaid questions.
https://www.medicaidplanningassistance.org
But you need to see an elder law attorney that specializes in Medicaid planning.
When it comes to a Community spouse, assets would be split. The spouse on Medicaid will spend down their portion. The CS will not be made impoverished. There's more to this but thats basic.
Really, a house could end up being a burden. Upkeep, taxes, etc. I am 69 and if my DH passed or ended up in LTC, owning a home with all that would be overwhelming. If the Community spouse ends up wanting to sell, it has to be sold at Market Value. Proceeds probably having to be split. If Community spouse needs 24/7 care, her share of assets would be spent down. No SS or pension can be spent on the house. So, family members would have to pay upkeep and/or sell. The proceeds going for care.
I am still trying to sell my Moms house. As it sits, the tax leans increase. Medicaid now has a lean. It would have been so nice if Mom had downsized years ago. Then all I would have had to do was clean out an apartment.
Can you call your local Medicaid office so that they can explain this? Or even better, see an eldercare attorney? It will be money well spent .
Please note each State handles their own Medicaid rules and programs. And what is in force today may be changed next year or ten years from now. It all depends on the State budgets, and if programs need to be cut or more funds are needed for Medicaid. It is us taxpayers who help fund Medicaid.
The best rule of thumb when it comes to renting or buying, use only one income. Thus, if a spouse should pass, the remaining spouse is usually living off of one income. When my Dad passed, so did his social security and his pension.