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Also, realize that one or both parents may eventually need nursing home care which could put the parents on Medicaid.
You should all go together to see an elder law attorney to work out any glitches that could arise should other relatives, Medicaid or personality issues cause problems.
Good luck. I hope this works out well for you all.
Carol
Also consider, that if they will need Medicaid for a nursing home, the house is an asset that Medicaid will include during their five-year look back. They WILL put a lien on the house.
When a Medicaid beneficiary dies, the state files a claim with the probate court against the beneficiary's estate to recover amounts paid by Medicaid for the deceased beneficiary's medical care. An estate is all real and personal property and other assets of the deceased person (recipient) as defined in South Carolina State Law. See scdhhs.gov for more information.
Having said the cynical/realistic things, it's true that you do get Naomi-Ruth type relationships. It's not impossible. It's just very, very rare.
Explain this a little more, and let us try again!
Me. I wouldn't do it for all the tea in China.
Both were addressed, including cautions about transfer of real property if an eventual Medicaid application is ever required.
Posters typically also offer advice on peripherally related issues, such as the combination of two generations of families. They do that to be helpful and share the benefit of their experience.
So I'm just not clear what you mean when you write that we're not getting the point. Could you clarify?
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