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Old 05-15-2019, 09:56 PM
Ann Hedonia's Avatar
Ann Hedonia is offline
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Quote:
Originally Posted by Saintly Loser View Post
Yep. My father is in one. He needs to be there -- they specialize in "memory care," and his dementia makes it impossible for him to live on his own.

But $4,500? Wow. Here in NYC, it costs $18,500 per month. And that's at the lowest level of accomodation -- more luxurious quarters are available in the same facility.

It's a real concern of mine that at this rate he'll outlive his money. Then what? I have no idea.
Medicaid will generally pick it up once the assets are completely depleted. It’s important that he not gift or transfer anything, if that has happened in the last several years he may be ineligible for Medicaid. They can and will try to take the primary residence if he lives alone, there are restrictions if he doesn’t but that doesn’t necessarily mean it’s safe. I’ve kept these comments general because the specifics may vary from state to state. I recommend contacting a lawyer that specializes in Elder Law, you can do things like set up an exempt trust for funeral expenses.

I’m dealing with this very issue with my Mom right now. I’ve spent my day digging through her papers and trying to access her online accounts in order to get the papers the lawyer needs.

Last edited by Ann Hedonia; 05-15-2019 at 09:58 PM.