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> The secret is to give your children your assets before you need to ask for help or expect to be told to look for private care. Private care is about $6000-$10
by koolba 5y ago
> The secret is to give your children your assets before you need to ask for help or expect to be told to look for private care. Private care is about $6000-$10000 per month. Once you spend all your money you now qualify for subsidized care.
The Medicaid look back period for assets is five years.
The real “trick” is to have kids, raise them right, and then get old knowing that they’ll do what’s right. Whether that’s taking you in, putting you in a home, or kicking you to the curb is all a matter of what you teach them.
- 14 5y agoIt doesn’t matter how well you raise your children if your health declines they with there best intentions won’t be able to help you. I see it all the time. When all of a sudden the person needs 24/7 care to use a lift to take a poo or can’t physically get out of bed into their wheel chair or a hundred other issues the family can no longer cope. You say do what is right, for me that would be riding myself off assets to my children so they can have a life just a little easier then me. I’ve raised my kids right I know I could at 50 years old put all my assets in their name and it would be fine. Not everyone can do that. Some may say that is cheating the system but it is still following the law and that is good by me.