Mom has some assests.

Question

Mom has some assets, and uses interest every month to supplement. If she had to go to nursing home or such, the money would be gone in a year or less. Can she gift her trust to me now, I can stay with her for awhile and then she won't lose everything. The money is for my daughter's education. One lawyer told us no that "they" would find out. It's her money and was designed to educate my daughter. We live in Oregon. What to do?

looney · Accepted Answer

Hi, I believe there is a 3 year look back period they would make you pay it back if money is transfered in a lesser time.  They cant make your mom sell her home, car and a couple thousand in the bank.  But if your mom has only liquid assets they will make her use that up before they pay for her care.  If your moms estate is worth protecting you might have to bite the bullet and care for her and let me tell you it is a BIG job.  Good luck to you.  Many of us have some real tough decisions to make. Hope you can find the strength to do what needs to be done.

Mom has some assests.

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