Anyone know of loop holes to keep inheritance when mother goes into full time care?

Wondering if anyone can help me. My mother in Australia needs full time care soon for dementia. She has money, but will have near nothing left after the greedy care establishment finishes with us. Yesteryear you could set up a trust, put the money in, like many a business person wanting to avoid tax etc and no one could touch it.
So far I have established that if we put the money into a house, the care co will sell it to take more than needed.
I don't know of an accountant I can trust in Aus. My family there can't think straight caring for mum...
Would any one be able to help. I would really appreciate it. We are all stressed out of our minds. Thanks in advance.

 

i was in the same position as you. first of all let me say i am sorry for your mom's situation and yours. don't know if the States are the same as Australia, as far as medicare/medicaid guidlines go. but, if they are similar, i must tell you if you put her into a home, the home will make her pay for it with her assests ..all of them. unfortunately. And, they do do a 5 year look back. so, there is no chance now of diverting funds or giving money to family members to hold. trust me, THEY will find out that fact and make you pay it back. once she is down to, i believe, about two thousand dollars, then she may sign up for medicaid. but, she must have no assests left anywhere, that includes, stocks, land, jewelry. i am sorry to have to tell you this. i hope it is different for you in Australia. I wish you good luck. and, love to your mom.

 

my mom is in a retirement place...nearly 4000 a month

difference is that we want mom to be as comfortable as possible and dont give a shit about an inheritance

i think it is horrible that you want her money and are blaming the home ...go make your own fucking money

 

To be fair, I don't think Thing one is talking about that. I think Thing one is talking about putting the money somewhere so the most can be used for care.

 

i get it...thats what we did...but we did it so the money will last her life...not so there is some left over for us

thing one used the word inheritance...thats money left over when she dies,no?

he's in canada...we have lots of financial advisers here that have experience in other countries...

if this poor womanis at risk of being bilked then the time to act has passed...hire a lawyer

 

True. I did read that bit. It's just the post didn't seem to suggest that. I was careful to say: 'I don't think ...'

 

move her in with you and take care of her then you don't have to pay anyone.

 

i agree with you.


and, for mr. Rat icon guy, my dad is in a home for 6000.00 a month. take about comfortable. my point is no nursing home is comfortable. folks would rather remain in their own home. unfortunately, it can't always be like that.

 

yeah, that works, too, until your own health suffers and you become sick and can't take care of yourself or mom or dad. case scenario for me.

 

not true...lots of people choose a retirement home over staying in their own homes...my mom didnt want to cook any more...she approached us

ok..the op may have used poor wording...i give them the benefit of my doubt

however...when people cant handle their affairs in a competent way there is a ''power of attorney'' option in australia....if this woman has dementia then someone already has that right..jus not the op

Office of the Public Advocate
5/436 Lonsdale St
Melbourne VIC 3000
Tel: 1300 309 337
Web: http://www.publicadvocate.vic.gov.au
Email: publicadvocate@justice.vic.gov.au

 

The title of this thread asks about loopholes to keep inheritance. The fact is the parent earned that money and it is their's for their care. If there is money left after the person dies, their will would determine where funds would go. I agree with Rolling, I don't think that it is legal for a person with dementia to sign any legal forms such as wills or trusts. Did your Mom designate someone to have power of attorney?

 

I'm not familiar with Australian law, but in the U.S. unless an estate is set up in a trust (and it is funded) any hospital or long-term care facility can place a lien on any property owned. A will doesn't cut it, because all assets are subject to probate, and any debts owed can be collected via the probate process (within a certain, limited amount of time after a notice is published in a legal newspaper), posthumously. My guess is, if she's already in a longterm care facility, she's or the POA as already signed an agreement to pay with whatever resources she has remaining as a condition of her admission, but it's definitely worth checking into and I would strongly advise her and/or POA to contact a reputable estate lawyer. Every day I see personal estates being sold at auction under this exact same scenario.

 

Thankyou all very much for your imput. Both nice and nasty. I appreciate all feedback very much. Yes it sounds like we are greedy and only thinking of the funds. In reality this is not at all the case. I have only come to canada for work and will be returning home soon to Australia where I have been previoulsy caring for mum 2 days a week, whilst my sister is living with her full time.
Unfortunately, or fortunately we are not at all money hungry, and in fact only one of us out of 3 is a home owner. No not the agenda to become one. We just didn't want to be idiots about it. Mum worked all her life and has been a high tax payer. When she was "with it" and made out a will she told us to buy a house with her money. (then and there) We did not buy a house , which I have just established would have not been asset tested if owned more than 2 years, because what we could have bought would have been a bit rundown without all the mod cons to make mum comfortable. We have done ourselves in thro not thinking about the inheritance! Now mum gets up in the middle of the night and gets dressed for work (she thinks she works) She takes off when my sister is in the shower....She is incontenent, she cannot relax, she is abusive, she is having psychotic episodes, so forgive us for being greedy heartless monsters wanting to put her into care before someone suggests it.
I am going back home asap when contract up here to be with mum and hand over all she has to the home. The care home who will look after those who have bludged and never paid tax, while a woman who has paid half a million in tax can't have her final wish to leave a house to her pathetic anti materialistic kids.
This is the reality. Thankyou again for your help. We have screwed up by not being informed earlier. Our fault. Mum has always been priority, we just thought it just that she get some tax back and my 2 single mum sisters might be able to live in a non rental, just as mum wished. We thought it was fair, that's all.
Again thanks for the feedback. I'll try to find out all the possibilities back in Aus. Not looking good tho.
I don't wish Alzhiemers on my worst enemy. My heart goes out to all those in a similar situation. It's just heartbreaking.

 

good luck to you. kiss you mom, she needs a hug and kiss. it's probably pretty hard on her, too. my heart goes out to you guys.

 

maybe you can learn how to word a thread on a social forum a little clearer to avoid people like me taking it literal...not fair to elaborate into an entirely different subject

..i understand how hard it is for you and your family now that you explained better...very sorry that your mom is struggling with dementia

if it is any consolation i now feel like shit

i would of course only offered my support had you elaborated in the op

i really think a clever lawyer could help greatly...my sister is a lawyer so i know first hand that there are many solicitors out there that arent sharks after only your money

 

Our Mom had Alzheimer's too. It is an incredibly cruel disease. Dad private paid for the 2 1/2 years she was in the care home. Mom went in there for physical therapy to get her back on her feet but she could not retain the instructions. Within less than a year she was bed bound and she needed skilled nursing 24/7. She died December 5, 2008 from dementia and COPD.

I used to hang out on the message forum for the Alzheimer's Association. I remember reading that in the US that if a caregiver was a live-in care giver for a certain amount of time (I forget now if it was 2 or 4 years) that the home would not be taken away if the patient had to move to a care facility. I don't know if Australia has any law/rule like this but it might be something to look into if your sisters were doing that for your Mom and living in her home. I don't remember the details since it was not something that applied to us.