My dad has been in the hospital twice and 3 rehab/nursing facilities since September. He's in each 30 days and he gets shuffled to another facility. He is almost 90. He has a Stage 4 Wound on his lower back and is having periods of dementia and not wanting to eat. We have had Hospice assess him and they feel he can be rehabilitated. I was told today that he needs to be in a long-term nursing facility and that Medicaid would need to be applied.
My dad has a small amount of money in a money market and his car. He has more money than Medicaid allows and we need to figure out best way to protect that money. My brother is POA and I am Surrogate POA. We have 2 other siblings and wondered if we created a family trust made up of the 4 of us with the POA overseeing it would that protect the money or is there another way?