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4ren6, Expert Criminal Witness
Category: Family Law
Satisfied Customers: 4794
Experience:  Retired Law Enforcement.
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parents (90 & 88) no will, dad ok at present, mother

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parents (90 & 88) no will, dad ok at present, mother has memory loss, live at home, we care for them. has 30-50,000 cash, house probably 70,000. old school, won''t sign over house to me(son) and my son. if he dies first mother will get but all will go for care prior to state taking over. can he make a cash gift to me an son prior to death? he doesn''t understand about what state will do about mother and that they will have cash/house gone through before they will assist. im trying to find a way that my benefit him and us also. suggestions
how soon do you expect either to pass away or go into a nursing home...........have you even checked the cost of nursing homes to show your dad.
Customer: replied 8 years ago.
dad still can get around, could go on for few more years with no problem. if he dies first mother will immediately require 24/7 care. yes he knows that cost will be about 37,000/yr. he is of opinion that i and my son will get everything if he goes so its hard to get that through to him that state will take all she has been left and house before they will them take over. i have thought about option(legal?) to make cash give to me and son. ive heard that you can make a one time cash gift and maybe tax write off also? is difficult situation & im somewhat resigned that state may end up with everything unless i can come up with vivable option that he might agree to
What state are they in. What state do you expect to place your mom in any family care or nursing home care.
Customer: replied 8 years ago.
rolla, missouri is answer to both questions
Ok, bear with me while I post this info and then go back to type an answer. This is a complex situation and I just wanted to let you know that I am typing.......give me about 10 mins to finsh up. I have not left you and you can reply. I can not reply back until i have finished typing. BTW. Does your father have a large amount of cash assets........what about your mom. Go ahead and let me know only if they are high..........say 100k or above......I will then post back.
Customer: replied 8 years ago.
30-40,000 checking, maybe 5-10,000 life insurance, house probably 65-70,000 value
Thanks for being patient..............typing out now and will post in just a few.
Customer: replied 8 years ago.
tks, no problem, its not easy
Ok, worse case situation is that your dad goes first. You stand to loose everything with no valid will. Get one made asap and have him appoint a personal representative. They both need POA for medical decisions as well.

If your dad should die then your mother go into nursing care they can not approve her due to assets and all assets would have to be "spent down" before she could qualify for medicaid. If your father is deceased at that time then the house counts as a possible asset. They can come back after admitting her and claim the house if titled to her.

So your dad needs to go ahead and quit deed the home over to someone now. He needs to draw up the deed and clearly state that he and your mother have "life rights" to the home. So at the death of both the home then goes to you in full.

The catch is there is a 5 year look back period for transfer of assets. The home, the money, anything that is done has a 5 year look back. Your dad can gift small amounts of money for you to hold. 5k, 10k, but larger sums catch attention.

If all the property and assets are transferred in time then they can not take them. If not then your mother or dad must qualify on their income if both are living. In this case the home and one car and the spouses assets are protected. And the one parent would be approved or not approved on their income alone from SSA or other retirement.

This brochure will assist some.

I suggest that you sit down and attempt to explain to your dad the ramifications of not doing an "estate plan". I susgest that you find a local chapter of Elderlaw and take him there for a meeting for free legal advice on such planning.

But your dad needs to plan things now. At a minimum the home should be taken out of both names and quit deeded and giving them life rights.

Please reply if needed as I have typed this fast. If confused and need more info then let me know as i will be more then glad to continue.

I have replied with an answer above and also am adding the link for your states Elderlaw locater...........they can assist you and your dad..........and help convince him of the need to do this.
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