I have no money, just a house. Trying to get my mom into assisted living and dont know how we wil pay for it.

Follow
Share

My Mom is 78 has dementia and she lives in NJ I was running from Phila to NJ for 3years. My daughter is 23 started living with my Dad and Mom about 2years ago my Dad passed last April and since then my Mom has been getting worse. Im trying to get her into an assisted living place but all she has is a house. I don't think I should sell it becouse 1) it will take to long and 2 she won't get what it is worth and I need every penny. I think if I put my name on the deed. I dont know Im so confused!

This discussion has been closed for comment. Start a New Discussion.
22

Comments

Show:
1 2 3
Curious, you need a certified Eldercare attorney on the legal team for MIL, one who understands Medicaid eligibility in her state. Make sure that all the stakeholders and the Trusts attorney are in the room for the discussion.
(1)
Report

My mother in law ( MIL) has been in a board and care (B&C) for several months due to falls and she can't walk ( bad knees). I have spent several months rehabing her paid off house for rental to support MIL.
My wife's' sister ( who favors selling the house, instead of renting for support income) contacted MIL estate lawyer who said the daughters could not rent or sell the house , but had to leave it vacant. Lawyer also said my wife should not have sold the cabin owned 50/50 by wife and MIL.

MIL needs cash flow for the B&C...
Seems it is in best interest of MIL to rent house for income ( and to pay for the approximate $ 15,000.00 in rehab costs I put up..

Any ideas on these matters? The legality of renting for MIL support? MIL has a Living trust, and daughters are the assigned trustees, if needed. MIL is 'slightly' slowing down, but is aware off most stuff, but does sometimes forget recent events, though long ago stuff is very clear in her mind.
Bob
(0)
Report

Chris
Your message sounds like a scam. How does Your program provide multiple medical professionals just for her as well as an income?
(0)
Report

Chris, steady stream of income? Sounds like a Reversed Mortgage, correct?

If yes, curious how a reversed mortgage would pay for the high cost of professional caregivers at home around the clock, or even the cost of the monthly payment for Assisted Living. Just wondering.
(1)
Report

The problem you face with care for your mother with no money unfortunately is not uncommon. However, your mom has a house. DO NOT SELL THE HOUSE! Your mom is going to be happier if she stays in her own home. If you are interested, we have a program that allows her to stay in her home, have multiple medical professionals who are dedicated just to her care and a steady stream of income.
(0)
Report

@DMP: I'm working on exact same thing right now . . . ran into a Medicaid Consulting firm that offered a free consultation so I went and they are walking me through how to do it . . . my mom had a little money in a life insurance policy that we are going to use to get her into the Assisted Living facility. . . then get house ready to sell . . . then spend that down until we can qualify her for Medicaid . . . that way the money from her house is being used entirely for her care ... the Medicaid consultant told me at what point we would then apply for Medicaid . . . it doesn't really matter what you would get for the house at that point, you would have to spend it down anyway . . . you might look in your area for someone offering Medicaid consultations for free and lay out your particular situation . . . it was good advice for us . . .
(0)
Report

I'm working on exact same thing right now . . . ran into a Medicaid Consulting firm . . . they are walking me through how to do it . . . not necessarily Medicaid right now but gave several options on which way to go with the asset we have . . . I am in Colorado, this is a local guy but you could check your state for someone in your area who does the same thing . . . Medicaid consulting
(0)
Report

Madka - so it sounds like your mom is looking at a facility that has a required buy-in, is it a CCRC - continuing care retirement community? How much is the total buy-in? I would highly suggest that you look at the fine print on the contact. Most good ones are 200K+ buy-in's but all will have to limit the degree of skilled care covered under the buy-in. They may not provide the level of care that a 90 year old would need in the next few years and she likely will not be able to get her funds back or will have to private pay for the additional services she needs. If this is the type of place that she "buys" a unit, realize that you cannot sell it, only the facility can sell it and can wait till an appropriate buyer appears. For the advanced elderly - like anyone over 90 - a CCRC probably isn't the best use of their funds.
(2)
Report

So, along these same lines,our mother, in Florida, has a modest condo( paid off) and about $30k in the bank. Her SS check would cover the monthly fee. Her condo value cover the would the assisted living facility entry fee. However the assisted living facility says she needs about $30k more to qualify to get in. If we put an additional 30k in her acct, can we take it out at a Later date, if it seems she doesn't need it for her month to month expenses? We just want her to get in to one of these facilities while she still might enjoy what is has to offer for her. Mom is 90. Any ideas?
(0)
Report

We worked with a company that provided a free service to help us understand all the options available to us. I cannot remember their name but their number is 888-228-4500. They asked several questions then explained my grandfather may be eligible for a special pension because he was in the military. They got us to a very nice man who did all the work for us to apply. It took a long time to get his home sold and to get the military pension but when we did it made all the difference. While we were waiting we used some of their other services to pay for his care. Call them. It does not cost you anything and knowledge is power. Good luck, I know it is hard.
(0)
Report

1 2 3
This discussion has been closed for comment. Start a New Discussion.
Related
Questions