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I suggest you contact that Elder Law attorney now and find out what to do.
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I came across a article, with a quote from attorney Ruth Phelps Elder law in Pasadena. In addition to one’s home, many states exclude IRA assets from the Medicaid-eligibility test if you are taking required minimum distributions each year. You will, however, be expected to use those withdrawals toward nursing-home expenses. In California, "it’s possible to have a million-dollar home and $800,000 in an IRA and still qualify for Medicaid," says Ruth Phelps, an elder-law attorney in Pasadena.
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I live in Orange county California and am going into assisted living I am 69 years old and only have enough money for 5 years. What will happen when my money runs out I have been told by social security that because I get 2100.00 a month I will never qualify for medical. Will I be put out on the street to die?
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In New Jersey, we have to apply for Medicaid when mom's savings are depleted. There are stringent requirements and I believe the forms are pretty long, asking for financial information looking back 5 years to make sure we didn't transfer any of her assets to hide them. You may need a lawyer to explain all the details for your state.
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