I am on a joint bank account with my Dad who will be applying for Medicaid in a couple of years. He has been in a NH for 5 years. Can I pay myself a small salary for handling his financial affairs or will that count as a tranfer for the look back period. One caseworker I talked to actually told me that I could spend the money on myself since its my account too as long as the item was for me personally and I had a receipt. Can this be correct? I'm in Texas.
It's time to cut the apron strings...
My parents chose to have me.. They also wanted me to grow up and support myself not them! How do I support myself when I am caring for my Mom 24/7..
You better be saving for your Elder years because you'll need the money for a nursing home..
I don't know if you have children but do you really expect them to give up their career and own family to financially support you?
I would never expect my children to financially support me it's humiliating and demoralizing...Have some respect...
Life's not about what you get when their dead.. It's about what you give while they're still alive...
Second – I so wish people would bite their tongues when they feel compelled to rant on the subject of "your parent(s) raised you and sacrificed for you all your life and how dare you...."
Considering that you haven't "walked a mile in the shoes" of the person you're scolding, it is really insensitive. You have no idea what kind of parenting they enjoyed (or survived) during their childhood and, as is pointed out EVERY TIME the comment arises, children aren't born with obligation to their parents. Their parents choose to have them.
Some adult children can't or choose not to be their parent's direct caregiver. The idea that they are "not as good" as adult children who do take up that role is offensive.
If he needs to Qualify for Medicaid in the next 5 years, you will give it back.
I started gifting in 2009 and put it all in an account that I could't spend so if the five year lookback ever kicked in I could put it back.
As far as paying yourself for handing expenses......really?
If he was living with you that's one thing, but in a NH and all you do is review expenses and write some checks? shake it off.
If your loved one has the finances to afford it don't feel guilty about taking an income. I'm sure they'd rather see you get the money than some agency.
I don't know anyone that can work all day and then, work on this stuff all night.
You are not asking for anything more than reimbursement for time spent. An attorney or accountant would not do this work for free. Pay yourself.
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