Senior Care Money Matters
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3 months ago
I am in the process of applying for Medicaid for my father, for whom I hold Power of Attorney, and trying to get a handle on his finances (he is no longer able to do so himself due to Alzheimer's). There is a bank account belonging to the estate of his sister, who died 10 years ago. My father was POA for her and the sole beneficiary in her will. I sent the bank my POA forms for him, and they told me that because the account is listed as belonging to her estate, I will have to get the POA that he held for her transferred to me via a local court in order to access it or receive any information. Does this make any sense? I was under the impression POAs were no longer valid once a person is deceased. Thanks so much for any insights.
5 months ago
Omg! I am freaking out. We are on our way across country to fetch my 95 year old grandmother, because my aunt suddenly passed away. My grandmother has nothing, she just gets $800 for social sec.
We just filed bankruptcy, we have to find a new home to rent because our current home is all upstairs bedrooms and bathrooms. The downstairs isn't really safe either, for her. Lots of steps up and down. What if no one will rent to us? We have been perfect in our current rental for 7 years, a new rental will cost too much!
My husband and I both work all day the kids are both in high school all day. She is in good health, but we couldn't leave her all alone living on the east coast when we are her only family left and we live in California! My husband and I only earn about $70k combined, which barely pays for us to live!
She also had Medicaid but we have to reapply for her in California and won't they say she won't qualify because of our income?
Hopelessly confused, lost, and too young to handle this....
8 months ago
My grandmother is in a nursing home in Florida. We are considering moving her back to her old home which her adult children own. Will her social security checks be available to use for her care or will they be taken to pay back Medicaid for the past Nursing home bills?
about 1 year ago
My mother in law struggles with finances. She is 60 yrs old and still is working and struggling. My deceased father in law was a Vietnam Vet (died Oct 2014) and drew 100% VA benefits ($3000 a month) They were divorced about 10 yrs prior to him passing. Is she eligible for some of his VA benefits. She was married to him for many years.
over 1 year ago
I work in a Development officer at a university. I am female, 61, single, no children. My boss wants me to donate my retirment account to the university. He feels that since I don't have children no one else matters. I have a brother and sister who provide me with a lot of emotional support and they are the only two people in the world who care about me. I don't know how to get my boss from pursuing me. I went to HR and they spoke with my boss and he is still doing it. I only have a small amount of money and my brother and sister can't help me financially. Any ideas?
over 1 year ago
I am a second wife. I have 2 adult stepchildren and 2 minor children, and we have a sizable estate. We are in the process of creating a will in Wisconsin, which is a marital property estate. The estate will be divided thusly: upon my husband's death, I retain half of our estate as "mine" separate from the will. Of the remaining half, I will keep 25% of the estate to raise our minor children. The remaining 25% will be divided equally among the kids. Complicating the issue is the one of my stepchildren is disabled and has a sizable trust, so that last 25% will be divided among my 2 kids and my stepdaughter; they will each inherit 1/12 of our estate upon my husband's death. He is older than I am and in poor health, so I worry quite a bit that he will pass away while my sons are still quite young.
We have plenty of wealth and I bear no one ill will. No one wants anyone to walk away with nothing.
However, I have questions about what will be divided among the 3 kids. Specifically: 1. Our home: if we end up cash-poor (which is possible, as my husband spends money with amazing speed), is there a chance I'll need to sell my home quickly in order to write my stepdaughter a large check upon his death? 2. Our 529s for the minor children: my husband and I paid for my stepdaughter's college and grad school, totalling $200,000. Will she inherit 1/12 of these accounts? Might I need to liquidate one of them to pay her? 3. Our 401(k) and IRA accounts that we established during our marriage: I have not signed away rights to these and I am listed as his beneficiary, but will the will, leaving each child 1/12 of the estate, trump those documents? 4. My 401(k) that precedes our marriage: it's worth well over 100k: does my stepdaughter inherit 1/12 of that? How about my IRAs?
I can certainly ask our estate atty these questions, but it sounds like I'm being petty, so I'd rather not do that in front of my husband. Blended families are complicated and I just want to keep the peace.
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