My mom has Parkinsons Disease and live s with my sister & her family.Mom needs care 24/7.She has assets over $100,000 in CD's and a trust fund.She also owns a home that is rental income.If she has to go into a nursing home,what happens to her assets?
1 Answer from Attorneys
In the general situation you have described, the assets of your mother will be used to pay for her nursing home care until her assets are almost depleted; then she is eligible for medicaid. Rules differ depending on the state of residency. Certain exemptions apply to homestead property but a home used for rental income is not a homestead. You may need to research the medicaid eligibility rules in her state of residency; then, consult with an lawyer experienced in elder law to consider options for use of assets.
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