My father recently turned 65, then suffered a massive stroke and is paralyzed. He started receiving Medicaid a few months after the stroke. He also qualifies for disability from his insurance company. Will he lose his Medicaid if he gets disability?
answered:
Your father's disability income must be applied to the nursing home bill before Medicaid will pick up the difference.
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If my mother is caring for my father and they are divorced, is she still eligible for compensation through his Veterans benefits?
K. Gabriel Heiser answered:
The law states that a court can give a percentage of the vet's pension to a former spouse.
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My mother has Alzheimer's and her Long Term Health Care benefits have run out. Can they kick her out of the Assisted Living facility she lives in?
K. Gabriel Heiser answered:
A nursing home or assisted living can evict an elderly parent who doesn't pay.
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How can I protect my family’s assets, but not disqualify my elderly mother from Medicaid benefits?
K. Gabriel Heiser answered:
Caregivers often want to know how to protect family assets, but ensure their elderly parents still qualify for public assistance benefts such as Medicaid.
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Mom has Alzheimer’s and lives in a facility. My sister has power of attorney. Mom wants to gift $150,000 to grandkids rather than using it to pay for care. She worked all her life paying for Medicare. Shouldn't she be able to use it instead of her savings
Jon P. Beyrer answered:
This is a difficult dilemma, and one that many families are facing. The dilemma can often be avoided or mitigated with advance planning, but that doesn’t help in your case.
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Is a Reverse Mortgage a good choice for seniors, or are there other options?
Jon P. Beyrer answered:
For some homeowners, a reverse mortgage may be the best way to provide income or pay off debts. However, senior homeowners do have other alternatives, which may make more sense than a reverse mortgage. Read Jon Beyrer's full answer.
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How do I go about finding a financial advisor for my parent?
Jon P. Beyrer answered:
Personal finance is a broad, complex, and ever-changing field, yet just about anyone can call themselves a financial advisor. The advisor you choose must be competent, well-informed, and experienced in the areas of investment management and financial counseling. Read Jon Beyrer's full answer.
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How can I help my parent manage her financial information?
Jon P. Beyrer answered:
For many caregivers, the resistance you get and the feeling that you are invading your relative’s privacy may leave you less than completely aware of your elder’s finances. But, if you wait until the elder becomes incapacitated to broach the subject of paperwork, locating important documents can be a much more difficult process.
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How do I balance my responsibilities as caregiver with the long term financial goals of the senior?
Jon P. Beyrer answered:
Your primary responsibility is to make sure your relative’s needs are being met. This includes physical needs, health needs, safety and security, and emotional needs, any of which may involve spending money.
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What do I need to know to best manage the cost of care?
Jon P. Beyrer answered:
If the time, energy, and medical necessities of care make doing it yourself difficult or impossible, you will need to get help -- and help in this area can be expensive.
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