A Place for Mom's Family

Hi all My widowed 86 yo FIL lives in Tucson. My husband (his son) and I live in Phoenix. His other kids live in Seattle and Connecticut. We are at the point where we don't believe he can continue to live alone. My BIL bought a condo 5 yr ago for my FIL to live in as my FIL has no assets. He has SS and a small annuity. His car is worth $1500 on a good day, really meant for scrap heap. Any gifts he gave his kids were more than 7 yr ago. So here we are looking for options. I hope he'd qualify for Medicaid but my hubby thinks his SS and annuity total $2000/mo. The annuity comes due in the next 1-3 yr (we have to check on that). My concerns are (1) If he qualifies for Medicaid what happens when the annuity is due to pay out $75,000? Options to re-annuities (2) With his current monthly income around $2000/mo will he qualify for Medicaid? (3) How to find the best options for Assisted Living that will accept Medicaid (4) He may have metastasis of prostate cancer treated in the 1980's. I feel Assisted Living won't take him if ill from effects of radiation, so maybe he starts in a Nursing Home? I should mention that none of us have the income to provide him with better level care. We could take him into our home and retro fit the bathroom but I can't be his caretaker as I myself am on SSDI for spine problems. And I fear the stress of care in our home will really be too much for my husband and for myself.

Well, as for his qualification on Medicaid based on income, there's the General Medicaid Income Levels based on family size and medical needs. Depending on his net income too, Medicaid can provide full benefits or in some case, he will shoulder a portion of the bills also known as recipient liability. If you don't know where to begin, contact your state's health or social welfare department.

For medicaid, there is something called a spend down.  Basically, you can be covered if you make over the alloted sum, but then you pay for the difference in service.  We have that with my dad.

 i agree with JKnick. You should consult an estate planning attorney, preferably one with a geriatric care manager on staff. These firms, when set up properly can help you with your options for his assets. There will be a period of spend-down of his assets, but they can also advise you on what parts can be protected via things like Miller trusts, gifting, etc. Most of the time there is a 5-year lookback though, and this is why it's important to consult a lawyer who specializes in this field. Good luck to you!