What is a living trust for?

Grace - you are probably very overwhelmed. It is fortunate that they have CD's to cash in and draw from to pay for their care. Your banker will be very important right now to make calling-in those CD's early to be easier. Decision making right now will probably be very hard for you (or for anyone!) to do right now. Try to remember to take time for just you when you can, ok!

If your folks are in a hospital, right now their care is being paid for by Medicare & their secondary insurance. If they are discharged for rehab into a facility, it is being covered by at least 20/21 day by Medicare. It can extend to 100 days if they are each progressing in their care. I'd try to find out where each of your parents are within being and staying on Medicare. You should ask that if things don't improve, to have them evaluated for hospice. Hospice is a Medicare benefit and although it does not pay for the room & board aspect of their continued stay in a LTC facility / a NH, it does augment for services and often NH welcome hospice residents as its extra hands to help with care. The room & board part will be private pay, LTC insurance or Medicaid - yeah the choices are stark. This is why if they can stay on Medicare paid rehab beyond the first 20/21 days it is good as it gives you time to work out finances if need be. Both admissions and the SW at the facility can be helpful if its a well-run facility.

About doing the living trust, if they are on ventilators it may be too late to do estate planning as they may not be competent or cognitive to do understand and make decisions. If the living trust is already done, then I'd suggest you schedule an appt with the atty. who drew it up to go over what it means for PA.

Again remember to take a break for yourself too.

Grace, a Living Trust is established many years before you apply to Medicaid to pay for a Nursing Home. It protects assets outside of probate. Now is too late for your parents, as their needs are imminent. Please consult an attorney.