Q: In nys can a nursing home take a life insurance payout to the nursing home resident if the spouse still thier home dies
My mom is in a nursing home. They are asking me to become her power of attorney. Her husband he still lives home is not doing well and will probably pass soon. The nursing home is trying to put my mom on medicaid to pay for her long term treatment. When her husband dies, will the nursing home get the money or will she get to keep it for things she needs and funeral costs for him and then eventually her.
A: This has to be thoroughly examined and analyzed. Who is the beneficiary of the policy? What is the cash value (not benefit) of it? Whose house is her spouse living now? Medicaid application must be well cultivated and planned in advance because there is a cap for both income and assets of the applicant for the determination of eligibility. People often get ill advised by their surrounding people including some attorneys and end up losing their assets/income associated with or wastefully spending their life-saved assets just for the wrong reasons/purposes. You should consult with an experienced attorney to discuss options and plan for your mother.
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