How do you keep a nursing home from taking all of a loved ones assests without power of Attorney?

Answer 1

You need to go see a lawyer.

Answer 2

Evonda, the sad answer is... you can't.

In order to qualify for Medcaid assistance to pay for nursing home care for a person with some chronic dementia (Alzheimer's etc.), a person has to be essentially totally broke. All they can own is a house (which of course they can't live in), a car (which they can't drive), a burial plot of a small value and (depending on the state you live in) about $1000 to $2000. A married couple with only one spouse in the nursing home can keep a little more (between about $60,000 and $120,000 in assets again depending on the applicable state law).

Powers of attorney are great for other things for a loved one who can no longer make decisions for themselves (i.e., taking care of their property, paying their bills, filing their taxes, authorizing medical decisions, etc.) But they do nothing in terms of keeping the nursing home from requiring private pay for care until the money runs out. You can't give the money to someone else because Medicaid "looks back" five years at any gifts the person made (or his agent under power of attorney) and penalizes you if you file for Medcaid before you can actually qualify.

It's the way of world nowadays, I'm afraid...

Answer 3

Seems to me there's a paper the person signs in which they agree for admittance that they will give up their assets. Some people transfer assets to a family member a year before they have to go to the nursing home, to prevent this. I think there is an IRS rule that mentions "one year"...but, check with your CPA if you have any further questions. Of course you could also ask that question of an "elder law" attorney.

Answer 4

The nursing home is paid a fee for their services - they do not have the right to take a person's assets unless the person is in debt, and even then they can't just take it directly, they'd have to go through a debt collection agency.

Talk with your loved one, and have them discuss their will and trust with a lawyer. Talk with the nursing home, and be sure you're clear on the exact arrangement between the home and the client.

Answer 5

I worked at a bank and the only way to keep them from doing this is to remove all the assets from the person's name. You need to get a POA immeadeatly and then sell the house (or re-fi it in your name) and empty the bank accounts. These homes are ruthless and the people who are answering...I have never heard of this...are in for a big wake up call when one of their loved ones winds up in one.

I have had customers who have had 100's of thousands of dollars taken by the homes...they bleed them until they are dry. I have also had customers who have gotten wise and had everything emptied from their accounts and put into a responsible loved one's account so the assets are safe.

If you follow the tax laws you can get arround the look back by structuring the money removed from the account as "one time gifts" to a few immediate relitives!

Answer 6

Never heard of a nursing home doing this . However medicaid will once the patient has passed away .

Answer 7

Your question is a little vague. Do you mean someone is coercing the patient to give them money, or that the nursing home charges are eventually going to take all their money?

Answer 8

I do not know the answer to that but do know that they keep changing the law to allow Medicaid to go back further and further to check asset transfers. I think it is now 5 years.

Answer 9

Nursing homes need to be paid for the services they render. Either your "loved one" pays, or they/you find a way to hide/transfer their money so that all the rest of us pay. That is called Medicaid. (welfare)

Answer 10

I never heard such a thing! I would be in there raising so much cane they would give it all to me including more! Where is your voice sweetie!!! You own this stuff NOT them!