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I have very little money for long term care giving. About $30,000. My husband has Alzheimer's. I am prepared to care for him as long as I can, but he is healthy otherwise. When and if he becomes violent or really unable to care for himself I will have to put him in a home. He is bigger than me and I would not be able to lift him. So I am imagining that I will qualify for Medicaid early on after he goes into a long term care facility. I own my own house and right now my biggest problem is paying the taxes every year! I know they can not throw me out of my house. They have to let me live here. And I also assumed that my house would be taken after I die. Bit I have a life insurance policy on Bill that I was counting for to take care of me in my old age. I recently read that they can take that too for services rendered. Is that really true? I was thinking that I will need that money to take care of myself at the end of my life. If I don't have that life insurance which I have been counting on, I will have nothing but Social Security to live on. And that is not enough. Can anyone enlighten me about this situation. I have a lawyer but I think he is just after as much money as he can take and not looking out for me!

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I thought that a reverse mortgage is only half of what your house is worth! And what happens when you run out of that reverse mortgage money. I have been very resistant to that idea. Also I heard that you don't qualify for it unless you are making a minimal income. Even less than SS.
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My folks got a reverse mortgage years ago, and that's what my dad lives on now. My dad was self employed for all his life, so no pension or anything like that. He is however a WWII veteran, so all his health care is thru the Vets. which has saved his bacon financially. But other than the reverse mortgage and SSI there is NO money coming in.
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