Disabled In Effects Of Will

Financial Planning - Financial planning in general. (Moderated) 

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Subject Author Date Disabled In Effects Of Will rog350 06-11-2008  Re: Disabled In Effects Of Will Dave Dodson 06-11-2008  Re: Disabled In Effects Of Will rog350 06-12-2008  Re: Disabled In Effects Of Will Dave Dodson 06-12-2008  Re: Disabled In Effects Of Will HW \"Skip\" Wel... 06-12-2008  Re: Disabled In Effects Of Will kastnna 06-12-2008  Re: Disabled In Effects Of Will Tad Borek 06-12-2008  Re: Disabled In Effects Of Will Elizabeth Richa... 06-12-2008
Posted by on June 11, 2008, 6:29 pm I have been disabled since childhood and live on approx. $700. a month SS. My parents are in the early 90's and live in Florida. The have a 50-100 K valued condo and less than 20 K in savings. My parents have a will that leaves the other all at either of their passing and then to my sister and myself when they both pass. My concern is if either of my parents should need Medicad to pay for their long term care later (I hope not). I have read online that since I am disabled the state of Florida would not come after my parents homestead at their passing to repay Medicaid. What concerns me is if my parents will leaves their homestead to my sister and I equally how would this effect this situation ? or would it effect it at all ? Thanks For Reading My Post -------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup. Posted by Dave Dodson on June 11, 2008, 8:30 pm On Jun 11, 5:29 pm, rog...@webtv.net wrote: > I have read online that since I am disabled the state of Florida would > not come after my parents homestead at their passing to repay Medicaid. > What concerns me is if my parents will leaves their homestead to my > sister and I equally how would this effect this situation ?   > or would it effect it at all ? Try asking your question at misc.legal.moderated. Dave -------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup. Posted by on June 12, 2008, 6:45 am Dave I take it your the moderator of this group ? I mean why did'nt my question post as a whole ? I don't think it was a legal question anymore than the rich that post here ? You have no idea what effort it took to write what I did and its not even posted ? ======================================= MODERATOR'S COMMENT: Your original post was posted to the newsgroup when received on June 11. -------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup. Posted by Dave Dodson on June 12, 2008, 9:44 am On Jun 12, 5:45 am, rog...@webtv.net wrote: > Dave I take it your the moderator of this group ? > I mean why did'nt my question post as a whole ?  I don't think it was a > legal question anymore than the rich that post here ?  You have no idea > what effort it took to write what I did and its not even posted ? > > ======================================= MODERATOR'S COMMENT: >  Your original post was posted to the newsgroup when received on June 11. No, I am not the moderator of the group. For my response, I trimmed your post as per the policy of the newsgroup, which you can find in the moderator's monthly postings, and even briefly at the end of every posting. I suggested that you ask another newsgroup because your question doesn't sound like financial planning to me. The lack of answers so far in misc.invest.financial-plan tends to back up my assertion that it isn't a financial planning question. I'm sure that this kind of question is dealt with all the time by attorneys specializing in the field of entitlements. That's why I suggested misc.legal.moderated. Good luck. Dave -------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup. Posted by HW \"Skip\" Weldon on June 12, 2008, 9:10 am On Wed, 11 Jun 2008 17:29:26 -0500, rog350@webtv.net wrote: >I have read online that since I am disabled the state of Florida would >not come after my parents homestead at their passing to repay Medicaid. >What concerns me is if my parents will leaves their homestead to my >sister and I equally how would this effect this situation ? >or would it effect it at all ? States administer Medicaid and have differing procedures. I am not familiar with Florida procedures. But where a beneficiary is receiving needs-based benefits and an inheritance/gift would impact their qualifying for those benefits, it is somewhat common to see trusts used. There is a specific trust that would receive inheritances, etc., be able to benefit the beneficiary, and yet not disqualify the beneficiary for other benefits. Strongly suggest you contact your local Bar Association and ask for the names of a few attorneys in your area who specialize in "Elder care" and pay for an hour or so for their time. They would be familiar with Florida rules and able to help you with a trust or whatever. They could also help explain the recovery rules Florida Medicaid will use in your parent's situation. Good luck. -HW "Skip" Weldon Columbia, SC -------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup. 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