Grandma had to go into a nursing home.  Now she wants family to be able to obtain her life estate. Can she still make this choice?

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This is in WI.

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lawrence91, when comes to financial issues when one starts to age is a whole different ballgame compared to when one was younger. As we age, we need to make sure [if possible] that we don't outlive our savings. It can become complex.

I can understand Grandmother's wishes, as she want to see her family enjoy their inheritance now. Unfortunately that can cause a major road block.

Most of us never realize the cost of getting older, it is a huge sticker shock. Assisted Living facilities can cost $4k to $8k per month. When my Mom was in long-term-care [nursing home], it was $12k per month. Thus your Grandmother needs to make sure that the money she has goes to paying for her care... that's only fair.

As Katie mentioned above, if your Grandmother needs to go into Medicaid [which is different from Medicare] it will pay for her care in a nursing home, Medicaid will want to make sure Grandmother didn't distribute her savings already.
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No. Any assets or money she gives away now could result in those family members who receive this money having to pay it back in the coming years.

Is Grandma wealthy enough to pay the full cost on her own? If she runs out of money and has to apply to Medicaid..Medicaid will demand the money back that she gave away.
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