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P. Simmons
P. Simmons, Lawyer
Category: Family Law
Satisfied Customers: 34304
Experience:  16 yrs. of experience including family law.
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My father is starting to present many signs of Alzheimer's.

Customer Question

My father is starting to present many signs of Alzheimer's. My fear is he will need to be looked after in a facility at some point in the near future. He has a home with a very low balance of a mortgage. He has money in his savings and wants to protect
his assets for his grandchildren's college etc. I fear I have waited too long because recently I learned that there has to be more then 5 years from the time we sign over his assets till the time he needs a facility. If this is true is there anything I can
do at this point? I thought if he paid his mortgage off and sold his house to someone that might be sufficient regarding the home. Regarding the savings is an annuity a way to do protect that?
Submitted: 2 years ago.
Category: Family Law
Expert:  P. Simmons replied 2 years ago.
My name is***** have over 16 years experience in the law. Should you like to chat on the phone I am happy to for a nominal cost. Let me know at any time during our question and answer session if you are interested I am happy to give you more details.There is, indeed, a "5 year lookback" for receipt of MEDICAID. MEDICAID is a needs based program that provides help for low income seniors who need medical care. Because this is a needs based program, Congress instituted a 5 year lookback to help prevent wealthy folks from transferring their assets to their heirs and then taking money from the government to pay for their health care expenses. For your father, he can absolutely sell the home. Just understand that he will need to use the proceeds from the sale to pay for his medical care. If that money runs out? Then he would qualify for MEDICAID.Alternatively, he can keep the home and apply for MEDICAID. But understand that if he does, when he passes, the state would have a claim on the equity in the home to help pay for medical costs.Bot***** *****ne: Your father will be able to enter the home. And MEDICAID can help with the costs. But he will need to use the equity in the home to help pay the costs of care IF he enters the home within the next 5 years.Please let me know if you have more questions. I am happy to help if I can. Otherwise, please rate the answer so I may get credit for my work.
Customer: replied 2 years ago.
I need to know a strategy to avoid losing all of his assets in this situation. Who can help me with that?
Expert:  P. Simmons replied 2 years ago.
The best strategy is wait 5 years. There are few exceptions to the look back. They involve transfer to a spouse or disabled child. Can you tell me, is father married or does he have a disabled child?
Customer: replied 2 years ago.
He is divorced. He has a disabled grand daughter.
Expert:  P. Simmons replied 2 years ago.
Thank you. I do not have any further recommendations. But I will opt out and allow other experts to weigh in. If some can assist they will reply here

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