wabmester
Thinks s/he gets paid by the post
- Joined
- Dec 6, 2003
- Messages
- 4,459
chinaco said:Here is a story for you. Just keep this in mind. Hiring a lawyer and using a trust is probably the way to do this. Anyway. I heard a story where someone was getting up there in years and tranferred their house to the son to shield the asset. They did it early on. In this case, the son was trustworthy. A few years later, the son got a divorce and the asset was split with the ex-wife. The parent was forced to move out.
Ugh. I've researched this issue for a relative. Medicaid lets you own a house without counting it as an asset. However, if you use LTC benefits some states will go after your estate for payback once you pass. Frankly, I think this is a pretty good deal. I don't mind paying for stuff once I'm dead, and I like the idea of using my home to shield some assets while I'm alive. I've heard they're thinking of changing the rules to force you to "consume" your house to pay for LTC on the fly.
(a bit of levity) on a serious subject... On euthansia. Remember the move Soylent Green http://www.scifi.com/sfw/issue55/classic.html You may be on to something if global warming keeps up.
I liked the scene in which the old guy opted for euthanasia. They asked him his favorite color, favorite music, favorite wine, then he watched an IMAX movie as he sipped the poisoned wine. And then we get to eat him!