My parents sold their house and built an addition on my house 11 years ago and moved in with me. My 91 year old father passed away in January and I am caring for my 89 year old mother who has dementia. She will need to move to an assisted living facility soon. Her investments and income will cover about 2 years of care. She may then be eligible for medicaid. My sister, who is the executor of my father's estate, has his financial documents showing the cost of the improvements my parents made to my house. She has also seen checks my father has written to me throughout the years to cover household expenses. And there was a loan to my business 8 years ago that he forgave. This is not being well received by my siblings. My father anticipated this reaction and drew up a notarized document two months before his death stating that all improvements to the house and financial assistance was a gift as acknowledgement of my role as my parents' caregiver and is not part of the estate. My sisters are telling me when they apply for medicaid on my mother's behalf I will be required to account for all financial assistance from my parents for the last 5 years and it may be viewed by the agency that they were giving away their assets to qualify. They tell me I could be forced to sell my house to repay the funds. Does this sound plausible? After living in a combined household for 11 years do I have any obligation to account for anything? I never wrote checks to myself - my father initiated it all.
springing poa does have its drawbacks . when my mom was hospitalized with a heart attack and delirium , i was instructed to get the springing poa " activated " by hospital ( aps ) social worker . our attorney issued the documents but moms bank wouldnt honor them . our attorney said that the springing poa was so unusual that the bank decided if they were to err it would be on the side of safeguarding their client ( mom ) .
the whole end of life business is rough going . the honest kid leaves a paper trail while the sibs who actually bilk and mooch know to deal only in cash .
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