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Is there anything else I need. We live in Colorado. All proceeds will go to pay for my moms care. Also will be selling her car.

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Yeah, I agree that I will need to back to the lawyer who drafted the paperwork with my questions. No way do I want to get caught up doing something wrong because I was uninformed.
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Depends on the state. Some states require specific powers to transact business (sign a deed) for a specifically-referenced parcel of real estate. Also, in FL, deeds have to be witnessed by two people, so if you are signing a deed using a POA there, then the POA must also be witnessed by two people. The closing attorney will record the original POA at the registry of deeds. You will probably be required to sign an affidavit stating that your mother has not revoked the POA. However, ALL closing attorneys prefer a deed signed by the person and not by the POA. This raises the question of whether the sale is something she is aware of and agrees to. You're not supposed to use the POA to do something she does not want you to do. You are HER agent, not a free agent.

That said, I agree with everyone else who said consult an attorney. You may be making assumptions about your lack of planning opportunities.
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It becomes recognized as an asset of my mothers once it sold. Va has limits as to how much assets a person can have under the a&d benefits. There will be no probate everything is in a will. By my calculations mom will be close to being out of money to pay for where she lives by the nov. of this year if I do not sell the house.
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I meant you could sell the home without probate with a proper trust.
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First of all, what state do you live in? Some states have homestead exemption laws for homes, such as Florida. Many states have different laws. If the home is in the trust, when you mother dies, you will be able to see the home WITHOUT GOING THROUGH PROBATE COURT if the trust was prepared correctly by the lawyer. You are not responsible for paying for overnight care. If Mom has assets, she can pay for that care. If she has no assets, she probably qualifies for Medicaid.
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I need to sell my mothers house which is in a Family Trust. My understanding is that she is the head of the trust and that the proceeds will become her assets s says the VA. Moms monthly cost for The Alzheimer care home that she lives has nearly doubled because I now have to pay for overnight wake staff for her. My guestions are 1. Do I need to tell the VA that I sold the home, are the proceeds still tax exempt since this was where she lived for 51 years. Due to the condition of the home we will only get about half of the value of it if we use one of the places that buys homes quickly. Her cost of care has gone up by $36,000 a year.
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It's simple. If the people needing care have assets, "the government" wants those assets to be used for their care. Many immigrants and refugees have none, but with help, will be able to get jobs, pay taxes and eventually be in the same position where, as elders, they may need to do just what we need to do now and use their assets to help pay for their care. As children, if our parents needed care, we would want to see to it that they get it somehow. Some may just need someone to manage their care, financial and otherwise. Others may need a lot more personal attention until it is too big to handle and more help is needed. How that is paid for will vary depending upon what assets are available. From my perspective, the government part is the safety net for when all else is exhausted--that same safety net for immigrants and refugees when they came here to try to have a life. Seems pretty fair to me.
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Our POA states specifically that we can make investments and real estate transactions on behalf of my in-laws. Do consult with an estate attorney who specializes in elder care law, due to the five year rule for Medicaid. We had no idea of this rule, and it's a real burden now that one of them needs a nursing home. I have no idea why anyone will want to help their parents in the future due to all the tangled legal webs involved. The government will feed, house and provide medical care for illegal immigrants and refugees, but to hell with our own elders and their families, right?! 😤😩😭
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their whole tax situation has always been messy anyway, so they probably don't care; know she just told hub that their daughter's the one who got mom's money, just not sure when she got the last of it; 5 yrs. is the kicker, right?
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Deb daughter, the NET rents are supposed to go to Medicaid. So if the house rents for $800, you deduct taxes, insurance, repairs and the net amount is what Medicaid wants. Usually rent income goes on a Schedule E with the income tax return. Failure to report the income can get very messy.
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or maybe even less than the assessed value if there have been years of neglected maintenance, as has been mentioned on here. But my question is 1) re the life estate but also re the rental - my sil has mil's house that has the life estate on it that she's been renting out; if mil needs care was it being said that Medicaid could come back on the rental income from the house and want those proceeds?
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I gather Mom is in a LTC facility. I agree that you should read your POA to verify that you have authority to sell Moms house, and then yes, the sales $$ minus any realtor fees goes towards her care. Many NHs will wait for payment until the house is sold and mom will be medicaid pending on the NH census. I think the only lawyer you need is the one who draws up the sale of the house papers once it is determined that your POA covers it. A realtor, not a lawyer, or the business office at the home should be able to answer most of your concerns. I am in Massachusetts and the bottom line is Medicaid wants their money from the house sale before they start paying for Moms room and board. Also, your local tax assessor can tell you the value. I am going thru probate now and the figure I gave the court was the assessed value, not hiring 3 real estate appraisers. Usually when you sell a house, you want it valuated as the highest amount possible, but if it is all going to Medicaid, then the assessed value is sufficient. Almost as if you want the least possible sale price as opposed to the highest. I hope you know what I mean. Best wishes.
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Two words=estate attorney
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Read the POA. It should have a clause granting you the rights to buy and sell property. If you don't see that clause, you don't have that power.
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If anybody cares, in our family's case it was necessary to petition the court to sell her home against her wishes. It was approved, but the legal costs were indeed very high (certainly more than $10,000 total paid from her assets as is legal). Her assets paid for everyones lawyer bills. That would be your attorney, her attorney, maybe your sister's attorney...........If she does not object to the sale and is competent you can carry out the business of such a sale together.
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Garden this person is getting just what they want conflict on the forum. I say we stop posting on their threads perhaps they will go somewhere else with their nonsense.
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And BTW, your "advice" on authority under a DPOA is WRONG!
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"Good thing I understand all our laws very well. The better you understand the laws, the easier it is to break the corrupt ones and never get caught"

"All the laws" - including every single state and federal statute? This is a clue to me that you don't know what you're talking about.

And knowing how to break laws and never get caught?

Pam called you out on another post; I agree. I've worked as a paralegal and known many who were qualified, some who were just average. Not one of them would brag as you did in another post and here about knowing how to "break the laws."

Your attitude is disgusting. If I knew who your employer is or was (if you really are employed and I'm not convinced of that), I'd notify that that you're posting online about knowing how to break the laws.

And though I doubt you work in the legal field, if you did, you're a discredit to the profession. And a LIABILITY to any employer.
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Just because you have a document appointing you DPOA, if the person who signed the DPOA has not been declared incapacitated or voluntarily gives you access to his bank account, there is nothing you can do legally to pay that person's bills. Good thing I understand all our laws very well. The better you understand the laws, the easier it is to break the corrupt ones and never get caught. Apparently all the people who post answers here are thinking about everything much differently than I am. I am going to do what I think it best, not what the law tells me is best. Nursing homes do not take good care of people. Private CNAs, HHA, and nurses take good care of people. Why give your money to a nursing home if you have assets? Spend the assets for good care and let the government stick you in one of those Medicaid facilities that care only about the patient's money, not the patient's well being AFTER you are impoverished. Pay for private care....when you can't then it is time to apply for Medicaid, because with no assets left, your application won't get help up.
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I have POA for a friend of mine who is now in a memory care apartment. I intend to sell his condo and use the proceeds for his care. The POA form he filled out a couple of years ago gave me authority to handle everything financial and everything with his health care. I am also the executor of his estate and know what he wants done with any remaining assets. So, depending on what was marked on the POA form, you can have the authority to do this. I have used no attorneys and don't know why I would need to. If he runs out of money, he will have access to VA benefits, too. His AL facility will accept public financing after 18 months of being paid at his current higher rate. Any money I raise in disposing of his furniture and condo goes into his bank account to be used for his care. This does not seem complicated to me--no trusts, no trying preserve assets for others to have, no trying to get hide money for some other purpose.
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I think a lot depends on the state you live in and your situation. Is there a family trust or do you have POA or both? As others have mentioned, a POA should spell out your rights. I just sold my parents' house. I am named Successor Trustee in their trust but I had to provide doctors' letters (2 for each parent) and notarized POA due to both of their financial incapacity. The title company required two letters for each and the rest of the documentation supported my ability to sign on their behalf. I did not consult an attorney although we do have a trust attorney who is handling the details of making me sole trustee. Interestingly my Dad never questioned how the house sold without his signature on anything (he has a brain tumor). Mom (dementia) just focuses on all the furniture that she hasn't had a chance to get (!).
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First and foremost - It depends upon the wording of the POA.
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Depending on the state where the POA was granted and verbiage in the POA you most probably will be able to execute sale of both assets.
You DO need an attorney and investment counselor if Mom doesn't have one. The monies and tax implications need to have accounts in place need to be addressed up front. You most likely have something in place if you are paying her bills.
Go to the attorney who did the POA if possible. You also need to be sure healthcare proxy is in place and that you know about the Will filing so you don't have private issues later in CO.
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What?
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I don't need any help. please LEAVE US ALONE, this is r issues and we will deal with them... I could get into a family dispute over all this, we r going to let the POA deal with this. thanks for your advice, but now we will adle it.. please do not call private numbers and email me again..HellBeiL
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I sold my mom's home with a POA. If we had waited it would have gone to pricey probate when she passed away a few months ago.
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In Florida, you can keep the house (homestead exemption) and still qualify for Medicaid. Check with a CO attorney to see if there is any way to keep the home. If Mom has assets, I strongly suggest using those assets to pay for a private CNA or HHA who will give your Mom lots of attention (1 on 1 care) because in nursing homes, they have 12 to 13 patients for each nurse. Diapers do not get changed right away. Hungry patients are ignored if they don't like the food or cannot chew. Transportation to and from doctor appointments is NOT covered by Medicaid, so you have to save enough money to cover what Mom might need -- hearing aid, eye glasses, transportation, etc. If you go the Medicaid route....they leave the patient with so little money that the patient cannot get a hearing aid or new glasses or even get their hair colored. I have POA for my Mom in Florida and I can do anything I want with her money -- keeping in mind that I have a fiduciary duty to do what is best for her. If I spend the money on a vacation for myself and leave her home alone, they will charge me with neglect and fraud. If Mom's income is too high, an elder care attorney will have to set up a qualified interest trust before she will qualify for Medicaid and that costs a few thousand dollars.....so unless you have the money for that make sure Mom does. Because of the 5 year look back period, assets cannot be gifted to children without disqualifying the parent from Medicaid. I am a paralegal in FL and I had to put my Dad in a nursing home, where he was ignored most of the time and served food that was not fresh and luke warm. I spent a lot of money bringing him kleenex (which nursing homes do not provide) and his favorite foods. Also had to buy a TV, hearing aid, mouth guard, new eyeglasses, and lots of medicine. He was not on Medicaid and could afford these things but since he refused to give anyone in the family POA....setting up an apartment for him to live in with a full time private nurse was not an option. So he suffered for 2 years and then had only 1 week of palliative care through hospice at the end. I will NEVER put my mother in a nursing home, even after the 5 year look back period is over (it has been 2 years since she transferred ALL her assets into my name). I live with her and do my best to care for her, and I have hired a private nurse to come work with her once a week to strengthen her legs and do the housework that I cannot do because of my own health problems. Medicaid should always be the last resort. If I am killed, my brother will put her in a home because he has no interest in being a caretaker. It all depends how much you love your parents. I love my mother more than I loved my father and for her, I am willing to do anything to make her life better. If my father had been less stubborn, did not exclude me completely from his LWT, and had given me POA he would have had a much better last 2 years of life.
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I just want to note, as above, although you may be able to sell, be careful. Once the owner of the property dies the vultures come out for their share $
This is why our attorney, and my mothers trust, stated 3 appraisals to make sure no one was cutting a deal to anyone . Just fyi.
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I live in PA and my POS specifically said buy or sell any real property. I sold my uncles house and the deed was titled in his name. I did not get an attorney involved.
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I live in NJ. I have spoken to Medicaid regarding my Moms house. Nothing was said about 3 appraisals or having it appraised separately. My realtor did a search on house like Moms to see what they sold for. I live in a depressed county so will be lucky if I sell with the work needed. Medicaid told me as long as I get a reasonable amount, they will except. Call Medicaid in ur area and run things by them.
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