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Who are you caring for?
Which best describes their mobility?
How well are they maintaining their hygiene?
How are they managing their medications?
Does their living environment pose any safety concerns?
Fall risks, spoiled food, or other threats to wellbeing
Are they experiencing any memory loss?
Which best describes your loved one's social life?
Acknowledgment of Disclosures and Authorization
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington. Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services. APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid. We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour. APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment. You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints. Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights. APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.I agree that: A.I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information"). B.APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink. C.APFM may send all communications to me electronically via e-mail or by access to an APFM web site. D.If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records. E.This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year. F.You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
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Mostly Independent
Your loved one may not require home care or assisted living services at this time. However, continue to monitor their condition for changes and consider occasional in-home care services for help as needed.
Remember, this assessment is not a substitute for professional advice.
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In many states, the state can only recoup Medicaid outlays from the deceased's probate estate. Such "in trust for" or POD accounts avoid this, since the account balance bypasses probate and goes directly to the named beneficiary. Also, many states have a de minimis amount, below which they do not bother to go after a deceased's money for repayment.
If what Attorney Heiser and Lifespan say is correct, the funds belong to your mother until she dies, then Medicaid will take the money. The way it is set up, the money belongs to her until she dies, therefore the CD's are her assets and will become Medicaid's upon her death.
You ask if an "In trust Account" is safe from Medicaid. The answer given by K. Gabriel Heiser, is the correct answer. Payable on Death accounts, or "in trust for " accounts are deemed the funds of the owner.
The bank can certainly tell you who has the present ability to withdraw the funds. Whoever has that power is considered the owner, for Medicaid eligibility purposes.
I believe it depends on the social security number associated with each CD. If your Mom's, then it would be considered her asset & Medicaid would want it. That is a danger never considered when money earmarked for someone's far-off-in-the-future tuition is put in a grandparent's name (in the hope of getting better financial aid). It is considered the grandparent's asset, regardless of who put the money into that particular account. An elder-care lawyer would be the best person to ask. If affording one isn't an option, then even perhaps contacting your local or county department of aging. Good question!
An account set up by a person "in trust for" another person is the same as a POD ("Pay On Death") account, i.e., the person who set up the account and put the money in the account continues to be the owner of the money with full control, but upon their death the remaining funds in the account pass automatically to the named beneficiary. So, as far as Medicaid is concerned, such an account is considered to be 100% the funds of the person who set up the account and funded it.
I believe that anything gifted over 5 years back before the Medicare application is safe to begin with. I don't know about CDs if these were done less than 5 yrs. My parents had the living trust and had certain things written in their will re: disbursement of their estate, but except for an insurance policy where I am named beneficiary (was told that beneficiaries are safe from Medicaid) that is way older than 5 years....every other asset doesn't get paid out until Medicaid gets paid back....so only left over funds will be in the estate in the end. We actually just finished moving all assets into my Mom's name, to qualify my Dad for Medicaid, and now I am beneficiary on all the accounts instead of my Dad. And I don't know that secures a thing for me, if my Mom needs to go on Medicaid in 5 yrs or less. She's 88 now and frail, so I don't think she will last another 5 years, but who knows. My husband has early Parkinson's the doctors think, so we are considering talking with our trust attorney about doing all this gifting stuff right away to try to safeguard assets for our daughters. I don't really know how it works, but we need to 'plan' for what could be coming!
Well are they CD's naming heirs, or did she establish a Living Trust with the help of a lawyer? While her intentions are good, Medicaid will want precise details on any funds. If she bought CD's with her name and made the child a joint owner, yes they inherit them BUT the Executor of her estate has to first pay all her bills, including Medicare. Get the exact details, asking someone to hold something "in trust" does not mean an actual TRUST even exists.
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington.
Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services.
APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid.
We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour.
APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment.
You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints.
Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights.
APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.
I agree that:
A.
I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information").
B.
APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink.
C.
APFM may send all communications to me electronically via e-mail or by access to an APFM web site.
D.
If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records.
E.
This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year.
F.
You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.