nursing home and assets
my mom is going into a nursing home, she has 25,000 in money market. how much can she keep for burial expenses etc? can she give any of her money away as a gift? she is now in an assisted living in new york, her account is in PA.
Asked on 4/14/07, 4:26 pm
1 Answer from Attorneys
Michael Moberg
Moberg & Associates
Re: nursing home and assets
You should seek the advice of legal counsel. She can only retain a nominal amount (approx $ 3,000.00 in her name). She can establish an irrevocable burial trust fund but any monies being gifted will result in a period of ineligibility for Medicaid purposes. Good luck!
Answered on 4/17/07, 10:34 am
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