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His monthly income is a little over $3000. I have power of attorney on his checking account. And the house is in both of our names. I am the executor of estate. My mother passed away in 2009. I am also concerned about his CD in a savings and loan.

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I'm missing a step here. Why would the state take his assets?
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Do you mean he may have to go to a nursing home or a funeral home? If he is going to a funeral home, I assume he is near death. Has he been on Medicaid?
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Was that a freudian slip? Did you mean to say nursing home?
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Mike, find his Will. That will tell you if you are the Executor. Once he dies the Executor takes over. POA ends at death.
It is very important to know how the house is titled and if the CD has named beneficiaries. Then you and a good estate lawyer talk about how to protect the assets.
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I am truly sorry. I guess it is too much stress. I meant nursing home.
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OK MikeH62, let's start over.

Dad is going into a nursing home, and you want to know how to protect his assets, and also how to protect your interest in property you share. Is that right?

Since you are worried about the state taking his assets I assume that he will be Medicaid. Is that right?

Medicaid expects people to way their own way as long as they can, and when they become unable to then they will help out with taxpayer money.

Dad will have to "spend down" his assets until they are under a certain qualifying level. There are several ways he can do this. He can pre-pay his funeral. He can buy things he'll need or would enjoy, such as a deluxe wheelchair or a super television. He can't give anything away, but he can spend for himself. Also, he can pay for the nursing home out of his own pocket until his assets are under the limit, and then Medicaid will take over. (Almost all of Dad's monthly income will go to the NH, too.)

At this point you really need to consult an attorney specializing in Elder Law. Such a specialist will be very knowledgeable about Medicaid rules. If there are any ways to protect some of the money, this lawyer can help you with that. He or she can also advise you about the house.

Yes, a lawyer costs money. But you are looking at some very important issues here and it is important that you have expert advice. Mistakes are costly!
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grrrr ... Medicaid expects people to PAY their own way ...
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