That may work very well, but consider how well you all get along now. How much privacy do people need vs. how much is realistically available? This could be a long road.
Also, realize that one or both parents may eventually need nursing home care which could put the parents on Medicaid.
You should all go together to see an elder law attorney to work out any glitches that could arise should other relatives, Medicaid or personality issues cause problems.
Good luck. I hope this works out well for you all. Carol
You will encounter "Queen Bee Syndrome". Women are highly territorial. You never find two queen bees in a hive, so if your wife will be happy with just being a worker bee (and she won't) go for it. Also consider, that if they will need Medicaid for a nursing home, the house is an asset that Medicaid will include during their five-year look back. They WILL put a lien on the house. When a Medicaid beneficiary dies, the state files a claim with the probate court against the beneficiary's estate to recover amounts paid by Medicaid for the deceased beneficiary's medical care. An estate is all real and personal property and other assets of the deceased person (recipient) as defined in South Carolina State Law. See scdhhs.gov for more information.
Well, if it the parents' home, the reigning queen bee will remain the alpha female. Guaranteed. And she will sting any drone who tries to take over. To put this in perspective would, hubby allow someone to waltz in and take possession of the TV remote from then on?
I'm trying to say - which woman is going to be "in charge"? Your mom or your wife? Will your mom be willing to become a guest in her own home? Talk to other women of your acquaintance. I've found that many men are clueless about this kind of thing.
Rather your wife than me. What does she think about this idea? No, I mean, what does she really think about it? - what is she saying about it to her girlfriends, for example?
Having said the cynical/realistic things, it's true that you do get Naomi-Ruth type relationships. It's not impossible. It's just very, very rare.
plsmith1, what is your question? What "legal" options are you asking about? You've already decided on the move. You don't want our cautions about that. But it is kind of hard to tell what you are asking.
By the way, do you know anyone who's successfully managed this arrangement? If so, you should talk to them. It may work out, but real life isn't like "The Waltons," where three generations co-existed more or less peacefully in the same house. There's bound to be tensions, and differences of opinions. If you and your parents are good at conflict resolution, and the lawyer and your siblings (if any) give you the green light, then go for it. Me. I wouldn't do it for all the tea in China.
PLSmith, I'm confused by your last post. Just looking at the title, it would appear that your "legal options" arise from moving in with your parents, and expectations of inheriting the house.
Both were addressed, including cautions about transfer of real property if an eventual Medicaid application is ever required.
Posters typically also offer advice on peripherally related issues, such as the combination of two generations of families. They do that to be helpful and share the benefit of their experience.
So I'm just not clear what you mean when you write that we're not getting the point. Could you clarify?
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Also, realize that one or both parents may eventually need nursing home care which could put the parents on Medicaid.
You should all go together to see an elder law attorney to work out any glitches that could arise should other relatives, Medicaid or personality issues cause problems.
Good luck. I hope this works out well for you all.
Carol
Also consider, that if they will need Medicaid for a nursing home, the house is an asset that Medicaid will include during their five-year look back. They WILL put a lien on the house.
When a Medicaid beneficiary dies, the state files a claim with the probate court against the beneficiary's estate to recover amounts paid by Medicaid for the deceased beneficiary's medical care. An estate is all real and personal property and other assets of the deceased person (recipient) as defined in South Carolina State Law. See scdhhs.gov for more information.
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Having said the cynical/realistic things, it's true that you do get Naomi-Ruth type relationships. It's not impossible. It's just very, very rare.
Explain this a little more, and let us try again!
Me. I wouldn't do it for all the tea in China.
Both were addressed, including cautions about transfer of real property if an eventual Medicaid application is ever required.
Posters typically also offer advice on peripherally related issues, such as the combination of two generations of families. They do that to be helpful and share the benefit of their experience.
So I'm just not clear what you mean when you write that we're not getting the point. Could you clarify?
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