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Loren, Attorney
Category: Estate Law
Satisfied Customers: 28537
Experience:  30 years experience in the practice of estate law.
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my mom(86 yrs. old) is probably headed for some kind of care

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my mom(86 yrs. old) is probably headed for some kind of care facility soon. i bought a house($92,000) for her in 2001. both of our names are XXXXX XXXXX title. she lives in iowa.

she has about $40,000 in savings. this week she sent me a check for $30,000 as a gift, but i'm not sure if i should cash it.

i don't want to lose her assets to the state, i'd rather keep it in the family. i have two brothers and two sisters.

should i see a lawyer about this and could he help me?
Thank you for using JustAnswer. I am JudgeLaw and I will do whatever I can to answer your question and provide you excellent service.

I am sorry to hear of your dilemma. I can understand how this can be very frustrating for you, but I believe I have information you will find helpful.

If you will be seeking medicaid benefits to pay for your mother's long term care, there are spend down requirements regarding her own assets. Additionally, there is a 5 year look back, as far as any gifts she makes, which could delay eligibility.

I do strongly recommend you speak with an attorney experienced in elder care and estate planning. There are mechanisms to protect assets, such as income trusts and enhanced life estate deeds. However, it is important to set these up with counsel. It is complicated and a mistake could be very expensive.

It has been my privilege to assist you. Let me know if you need further assistance.  I hope I have helped you beyond your expectations in the service I have provided to you.  I am here for you.

Please remember to rate my answer when our communication is completed so I will be compensated for my time in providing you with the information you requested.

If you feel the need to provide a low rating, please stop and reply to me via the REPLY button with whatever issue or clarification you may need. I will happily answer your follow-up questions and assist you until I am able to explain the answer to your satisfaction. Please also remember that I cannot control whether the law is favorable to your situation, so please do not penalize me for having to deliver bad news.

Thank you.

Loren and other Estate Law Specialists are ready to help you
Hello Don,

I'm just following up with you to see how everything is going.
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