sandsys Posted September 9, 2019 Report Share Posted September 9, 2019 58 minutes ago, Barbaraok said: My grandfather put everything in my mom’s name when his colon cancer returned in 1959. He came to live with us for a year and then into a nursing home for the last 6 months. My father put everything in mom’s name about a year before he died while they were RVing in the California desert, and mom has done the same with my sister and I when she moved in with my sister 6 years ago. Even though there’s a will, it makes things go faster. I'm pretty sure the timeline for transferring assets to qualify for Medicaid is longer than one year. Yes, transferring assets helps with processing an estate but Medicaid has specific requirements if you think the need may be there. If it's simply ease of transferring an estate you want, Dave's father made his accounts joint with his daughter so those were not considered part of his estate for inheritance purposes. Our own retirement fund accounts are not part of our estates, either, since they have beneficiaries instead but I think they would be considered assets by Medicaid. I am not qualified to give legal advice concerning these things, I am just reporting what we and our families have done, so you do need to find out what applies to your exact circumstances. Linda Quote Blog: http://sandcastle.sandsys.org/ Former Rigs: Liesure Travel van, Winnebago View 24H, Winnebago Journey 34Y, Sportsmobile Sprinter conversion van Link to comment Share on other sites More sharing options...
Barbaraok Posted September 9, 2019 Report Share Posted September 9, 2019 Yes, but that was never a reason for transferring then. When grandpa died there was no Medicare/Medicaid, and dad died in 1995. I think it is something more families should talk about, though there are many people who would feel threatened by lost of control. It’s like the almost 80 yr old snowbirdswe meet saying they need to head north because the kids can’t get the planting straight, and you know the ‘kids’ are in their late 50s! 😄 Quote Barb & Dave O'Keeffe 2002 Alpine 36 MDDS (Figment II), 2018 Ford C-Max HYBRID Blog: http://www.barbanddave.net SPK# 90761 FMCA #F337834 Link to comment Share on other sites More sharing options...
packnrat Posted September 10, 2019 Author Report Share Posted September 10, 2019 no "estate" to worry about here. both mom and i are broke. she has nothing of any real value. a ten year old ford focus has no resale value. guess i could run it till it dies, then just leave on the side of the rd. (kept in her name after she dies), as that way the tow company, dmv, state, etc goes after her not me. till then dmv, and insurance company's just happy the checks get there in time, and do not bounce. Quote Link to comment Share on other sites More sharing options...
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