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My mother in law has been living on $1500 month for the last 12 years, prior to that the income was a bit higher because her husband (veteran) was alive. They never knew about VA pension so never applied for it. She is starting to need care at home, we have been spending money we don't really have on fixing her house up so she can remain in there as long as possible. She complains about the cost of her pills, hearing aids, teeth etc. etc. and I understand why. I have looked at what was out there for assistance and came across VA assistance. I reviewed her income with her and found out that a portion of the $1500 monthly income is interest on money that she has in the bank. When her father died she inherited his property and sold it ... she has in excess of $80,000. My suggestion was to start using that money for the home care she needs. The way I see it, the government is going to get it anyways. She won't though, it is like a psychological security blanket for her. Is there a place where she could put those funds so that they are still available to her but they are not deemed an asset? That way she maintains her security (in her mind), she gets the care she needs and she gets to leave something to her kids (her goal). With the look back period I don't like the idea of her giving it to her kids now because if she ends up needing a nursing home I know which kid will end up paying for her care until she would qualify. If she doesn't get help ie VA, I know she won't dip into her savings, then we are going to feel negligent if we don't help her but, we don't really have the means either. Any info would be appreciated.

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Thanks for everyones reply, greatly appreciated. Her income is $1500 a month but when you deduct her unreimbursed medical expenses she easily qualifies. VA does not have a look back period yet but that seems to be in the works. Thanks again.
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If you look in the yellow pages, elder care attorneys have a separate section...I'm going to contact one for planning purposes for my wife & I...It's to late for my Mother, already in a Nursing Home...How do you know when to protect your assets?? A 5 year look back is a long time!!!
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If your mother makes 1500 a month then she can't qualify because she needs to make around 7K. However if most is coming from interest then she must have a lot of money beyond the 80K at the present interest rates at banks.

The best thing may be to investigate whether the VA has the same 5 year look back period as Medicaid. I'm not sure it does. Normally you can have a car and a house without that counting in your money. This may be far fetched but if she could buy into getting a classic car that appreciates and keeping it garaged, then its the same as money but it doesn't count. It will likely appreciate more than the interest she is getting. The spousal A&A is not that high compared to the couples of $2,000 a month. She also has to be someone that needs help to two of three basic functions (dress, go to the bathroom and bath). If she doesn't qualify for this then it doesn't make sense to even think about this.
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Consult a VA Accredited Attorney. Be careful talking to financial planners like Heritage who will suggest an Annuity. Putting all of the funds in an annuity will tie up the money and it will not be available to use to pay the costs of care without incurring penalties. Feel free to me privately for more info.
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How do you know an attorney is a certified Elder Care Attorney? We just went to one that was referred by another attorney and I get the feeling he is not a certified Elder Care Attorney by what he completed for us.
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disregard, I will post under financial ... tks
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