what are the laws concerning preserving assets of elderly parent.(nursing home expenses, etc.)?
442048
I don't know the laws but I went to see an elder-care lawyer and he was very helpful. He explained that what you always hear is not always true. He can truly help in conserving your parents assets.
1118358
Look in the phone book for elderly social services in your area.  Keep a notebook of all related things, especially expenses and people you deal with.   Go visit all the care homes near you.  Expect the care home to rapidly and methodicaly clean out any assets your mother has.  Make a will leaving each sister $1.   Good luck.
403216
the executor of the estate is supposed to divie up the remains equally, i think; and that means for everything that is sold you get an equal share.  if they sold it, it doesnt matter if they already spent their portion of what they got, they still owe you your share.  you can sue them.  its a shame people act so selfishly and unethical towards each other when their parent dies.
1184595
That's the way SSI is. They count your assets. If you go over the limit, they force you off the program.. It does count against the $2000. asset limit. If your parents or other trustworthy relative are still alive have them buy it for you so that it counts as their property instead of yours with the understanding that they will let you use it when you need it.
988001
She will have to go through the court process to distribute the assets he has left.  Everything has to go through the state if there is no will.  I would suggest she call an attorney and a certified public accountant.  The attorney will be able to tell her how and where to file papers to the state.  The CPA will tell her what she needs to do to file his final tax return and the Estate Tax Return (if needed).  If he doesn't have much say maybe a house and a car or something small then she shouldn't have to do much.  If he has a lot of stocks, bonds, savings accounts, retirement, etc.  she should definately hire an attorney.  Check your state laws for more specific details of forms and steps to take.  I'm sorry to hear about her loss.  You are a good friend to help her anyway you can.
370783
The only kind of estate purchase I've ever heard of is when someone dies and the person who has power of attorney over the deceased person's belongings sells them off to private buyers or holds an auction.  You could try checking your local newspaper for estate auctions.
741417
Not community property: any asset or debt that the individual had before the marriage.\n\nCommunity property: any asset or debt by EITHER PARTY that has accumulated during the marriage.\n\nThat means that, under California law,  everything gets split down the middle, regardless of whether you kept "separate accounts" or not. All the furniture, services, etc. and any bank accounts , though you think are "yours" or "his", technically you each own half of each other's stuff.\n\nAs for the debt, he's on the hook for half of it. It was a debt incurred while you were married.\n\nLikewise, you are entitled to half his retirement money accumulated during the marriage, he is entitled to half of what you've accumulated.\n\nHence, the need of an attorney for you two to negotiate who gets what.\n\nMy parents got divorced in Wisconsin, also a community property state. My mom would have had to give half her IRA to my dad, the deadbeat that he was, if the attorney hadn't worked out a compromise.\n\nThe reason behind community property law was that women frequently got scr_wed at the time of the divorce. The man usually made more money, including retirement money, and the wife wouldn't get at it unless successful in suing the husband in court. Since the man had deeper pockets, he could get a better attorney, putting the wife at a disadvantage.
241265
Well depending on where you live....In Canada we have a law which revolves around Grandparents rights. Just type Grandparents rights into a search engine or call your nearest lawyer.
689425
It is very hard. I am on that road too. Father is in the same boat. You have 2 basic choices, you take guardianship and to heck with their wishes and make the decisions for them. Not the nicest way to go. Or you find out who deals with the seniors in their area and you have them set up things that make life more manageable, if not perfect for them. Hire helpers, volunteer drivers and visitor. Can you get nursing aid to visit for medical checks and medication management? It a long and winding road at best, but  really all they want is as much independence and dignity as they can  muster at their ages. Here we have a commission on aging that will help you review your options, they can asses your parents and see what the underlying reasons are for missed medication (lack of money, forgetfulness, too cheap to buy it, difficulty taking it) When the send out a worker list here i know that background checks have been made and references are checked, it is still a hard match to get personalities to mesh. In reality I make the drive myself several times a week, do shopping, get meds, do heavy cleaning, fix televisions ( remotes baffle him he keeps locking the features out). Life would be far easier if he would move into a assisted living or agree to live here, but alas he has rights to stay where he is and be independent as long as he is mentally fit and not a lear danger to himself and others. You have to realize a large portion of their life was in that house, it marks their history, accomplishments and memories. You may just have to dig in and make it as safe as you can for them. Talk to  a senior center, social worker, aging speialist and know what options are there and what rights they have and what benefit they get from not moving. Its complex, do a lot of asking and research. And talk to them plainly about how much stress and worry you have about them, but listen to them too. Good luck.
994475
You should speak with an Estate Planning Attorney:\n" to preserve your  estate in a manner that allows you, your surviving spouse and their children to have the use and benefit of their property and at the same time, protect it from creditors and estate taxes."
1069683
I am a Medical worker and know this much.  It would not be considered income, but could possibly be considered property.  There is a 2000.00 property limit, but you could invest her income in an annuity or something like that and that would be considered property.  You could also use the money to pay off old debts, purchase a home, car, etc....just save the receipts.  There is a time she has to spend down the money.  If it is just Medicare she is on and not Medicaid, there may be no property limit, and she may be fine.  I would contact the social security office and ask or check out the website.  Also, alot of people dont know, if she is below the 2000.00 property limit, Medicaid or Medical will pay her "buy in" premium for Medicare, thus meaning she would be taking home the 88.50 that she spends for Medicare.  All kinda confusing, but worth it.  Good luck.
845271
The estate will be responsible for the bill.  But the debt cannot legally transfer to you.  If you parent had a $100,000 hospital bill, the hospital will basically be put into queue behind all other creditors.  As the estate is liquidated, the creditors will be paid off in turn.  Generally secured debt (mortgages and car notes) are paid first, followed by unsecured debt (credit cards and medical bills.)  Also - depending on the age your parent, Medicare/Medicaid wil help as well as Social Security.  But, No, you can't be held responsible for the debt.  Although your inheritance might take a serious hit.
19907
Try looking here for info: http://www.smartmoney.com/estate/
976153
You need to speak to an attorney about your rights and obligations.  Also, why not speak with her financial advisor to find out what, if any, plans are in place concerning your mother's death.
294639
Upon your mothers death you would inherit the house tax free with a stepped up basis equal to its current market value. At that point you could sell it with little or no tax consequence. If her estate is under the threshold in the year she died, the estate would not have a tax either. Since I don't know the value of her estate, I can't answer that ??. If you sell now, she might have a taxable event if the house appreciated more than $250K since 1999 basis she got when your dad died. \n\nThere are a few wrinkles based upon the info above. If it were my own situation, I know enough to make the decision, in your case you should spend an hours time with a CPA who knows estates & trusts.\n\nIf you want, post your moms basis on DOD in 1999, current value and size of estate and we could hash it out a bit more. However it is still wise to see a CPA.
801570
75% of all seniors will need either in-home care or nursing home care.\nWithout Long Term Care Insurance in place, when seniors need long term care, they could easily go through spend down of their assets prior to qualifying for Medicaid. This “spend down” often leaves little to nothing for the senior’s heirs. \nLong Term Care Insurance provides seniors choices giving them the opportunity to receive care at home rather than being forced to receive care in a nursing home prematurely. Both Long Term Care Insurance and Life Insurance can be purchased with the proceeds from a Reverse Mortgage. For more information email me at reversemortgagesforseniors@yahoo.com
477501
You can purchase will documents, I imagine it would have to be notarized at least once written, I don't know the legalitites here. \nIf they feel so strongly the brother doesn't have anything ..ask them to please state this as to not cause ill feelings between you and your brother after they have passed, if they are not in fact already this way. However there would be enough for his "other grandchild" to have something left as well. You stated before this is big money so thier is plenty. Just make sure you open an savings acct for the other child and have co-ownership to the acct. (If you open It I would think you could do this.)The same thing goes for your mom, I'd ask that she have written to whom goes what after her passing so you don't have to worry about it after her passing and while she is in good and sound mind. Anyone of us could get in an auto accident and pass tomorrow.  Its a good thing for everyone to have and update when need be.