Unique situation with parents

I am in the midst of a unique situation with my
parents. Dad is 85 and Mom is 84. Both are in
pretty good health, although dad has had some
issues in the past. Both have their minds,
thankfully. They are able to live by themselves.
Mom was thinking that they needed to do something
with the farm/ranch since they don't do any work
on it. My brother and I do it for them. Their
accountant agreed and he came up with a plan. The
plan is to give everything (cows, machinery, land,
even their house) to my brother and I. There is a
stipulation that they are able to receive a small
amount of rent from the land to live on. My folks
struggled for years to make the farm and ranch
work and after working their entire lives, it is
paid for and they are able to enjoy life and maybe
buy some things for themselves. My dad's dad died
when he was 14 years old, so he had to work like a
man since then. They had many, many lean years in
their married life. Even lost a 3 year old son in
a farm accident. They sacrificed and gladly
helped all four of us kids through college. That
is just the way they are. Now, I am having a
really hard time "taking" their farm away from
them. I know most people would kill for this
opportunity, and I am very grateful for it, but it
just doesn't feel right to do it. Mom says she
feels guilty because they don't do anything, but I
feel it is our way of paying them back for what
they did for us years ago. My brother and I both
have our own land, cattle and machinery and we
each help each other. He has the sprayer and I
have the combines, and it has been working fine.
Anybody else been in this situation? If so, how
did you get past the horrible feeling of your
parents having got to the point of their lives
that they have been looking forward to forever
only to have the rug yanked out from underneath
them? Maybe I shouldn't be so emotional, but I
can't help it. We are talking about probably a $4
million operation. Small to some, but big to
others.

The reality of their situation is just fine. They need to have the freedom they seek, and you and your brother are already doing the work. Nothing really changes. Go with the situation with gracefulness. Make sure that a good lawyer is in the construction of the paper work to keep it crisply clear what is happening, and who pays what tax Etc.
Also write up (formalize the relationship with your brother to keep irritation to a near zero level. Jim

You need to consult an attorney who specializes in "elder law". This is an area where the law is constantly changing and you can get burned by advice from someone who doesn't deal with it on a daily basis.

Do it NOW before something happens and the state,or the lawyers get all!That happens far too often,it can happen again.That very thing happened to a neighboring farmer.He died,she went to a nunsing home.The state siezed the property to pay for her care.Accept their offer,but get a lawyewr to do it right.Good luck to you...

OK there is some stuff left unsaid. You mention 4 kids. What about the other 2? Perhaps your parents talked to the accountant and found out that if they don't do something and the other 2 contest a will the whole place could be forced into a sale by a probate court? Maybe they want to keep the place in the family? Don't want to mean mouth the other two by saying that they may decide they want "their fair share" of an estate? My mother signed over the farm to me because my sister told her that she planned to fight her will. You may not have the full story and may never have it. I wouldn't feel bad about it.

Rick

If your parents are agreeable to the arrangement, do it now. When people reach that age, anything can happen at anytime. As has already been said, get everything legalized, as well as an agreement between you and your brother. If you don't act now, you may not get anything.

As far as you and the bro taking over the property, you need to get together with ma and pa and get with a lawyer and do it right and according to what all 4 of you want. If other siblings are comeing in on this, I hate to say it but they are going to have to be involved too. Word of advice, all of ya leave your spouses out of it. 9 times out of 10, thats only going to stir up a hornets nest, if its not a mess already. As for ma and pa slowing down, thats not a bad thing. Retirement years are for taking it easy and enjoying yourself. If I was them, I'd lease the farm out to you 2 and I'd be sitting on the beach with an umbrella drink watching the waves come in without a care in the world. LOL. My grandma lost here spouse early on. She did rent here place out, but she sat right there in that farm house for years. Right tell her mind started to slip. Didn't go anywhere or really enjoy herself at all. Then she had to move to town so other people could take care of her. She only lived a couple years after that, but I really think she enjoyed those last couple years more so than she did the almost 20 years on the farm by herself. You only get to live once, I guess its each there own if they want to really enjoy retirement.

This may sound cold, but.......Could they sell the whole thing and get a pile of money. Then live in comfort, make you and your brother co-heirs in the estate.
Many, Many people sell there business and then use that for retirement. My parents neighbor sold his printing business 15 years ago for $1 million. ----walked away, live the good life.

Nothing would make me more proud then see the next generation take over. if you dont belive me put grandpa on tractor with grandson and see who has the biggest smile. it sounds like a good deal live in the house you have always been in have help nearby somebody to push snow in winter mow grass in summer. but yes get a lawyer to many people see dollar signs but look at the smiles on grandpa and grandma they are the generation that worked for family thats what is important

Clearly giving you and your brother the ranch is more important to them than money. Then want to pass on to you what they spent their life building. Just be thankful they are wise enough to make that decision. I have been trying to buy the farm that has been in my family for 150 years from my parents. They refuse to sell, and its come to the point that I need to "move on" with my life. Be thankful for the position you are in...

I'm a few years younger than your dad, but I can see their point of view.

They want to be shed of the responsibility of owning the property - and they want to know that the land will be in the control of those they know and respect. For them, it's a "Peace Of Mind" thing.

Do them a favor and go with what they want to do. And don't forget to be generous with favors for them whenever an opportunity comes up. There are many ways to return favors: garden produce, meat in the freezer, bags of groceries, household repairs (at your expense), day trips, etc., etc. Even just giving them some time and attention will be very meaningful to them - probably more meaningful to them than owning the land.

As an Attorney who practices in small estate planning and probate etc., I see this often and give advice which most people take to heart. I tell people if mom and dad have worked hard all their lives and if they would like to pass the fruits of that labor to their children versus bill collectors or the government getting it (upon their disability etc) THEY NEED AN ESTATE PLAN PREPARED BY A TRAINED COMPETENT TRUSTWORTHY PROFESSIONAL (NOT Billy Bob and Bubba or how the brother in law did it lol)

Also, a plan that"s perfect for Billy Bob may be just the opposite of what"s best for Bubba. I have planned estates AND NO TWO HAVE BEEN ALIKE. Be leary of any one size fits all plan or what a neighbor down the road may have done as again, no two plans should be the same, they should be tailored FOR THE PERSONS SPECIFIC SITUATION AND DESIRES, nottttttttttt what the know it all brother in law or someone on a tractor forum (including me) says is best, and that determination requires the facts and situation and desires AND THE STATES LAWS after a thorough professional review and study.

As far as guilt feelings, determine what your parents want do with all they have worked hard for all their life. if they want it to go to charity fine, or church fine, or if they want it to go to their children fine AND RESPECT THEIR WISHES ITS NOTTTTTTTTTTTT YOUR CALL

My best advice is to consult a trained professional and don"t hang your hat on what lay persons or even professionals may think absent a thorough consultation, review and study. This is just too much money and too important of a decision to risk doing it on your own or letting the brother in law decide how it should be done THATS MY STOTY AND IMA STICKIN TO IT LOL

John T Country Lawyer

Would that trigger Gift Taxes?

Get down on your knees and thank the Lord you have parents who want to see their children reap the benifts of their labor and want you and your brother to continue.

I paid full market value for everything I got from my parents estate right down to the small tools. Two of my sons worked for YEARs on Pops farm for mothing allowing my father to keep farming for many years after he couldn't do it himself. They should have inherited the farm and got nothing! I'll never live long enough to see the rest of my "family" paid off.

Thats exactly what my parents did and what i have done to pass my property along to my kids.

my dad and my uncle went threw the sane situation parents gave the farm to the sons and when it came time for parent to go into nursing home, it was private pay because social services medicare and medicade said that they gave away there property away, so it ended up private pay. better go seek legal advice.

Your parents need an estate plan. Well, actually, they have one, but their State wrote it! Now it"s their turn. Consult with estate attorneys to establish a plan that meets their needs and wants. We set up a trust for our six kids. Each has responsibilities and equal benefits. We had 3 sources of information and impacts, and all 3 came up with the same independent recommendations. An estate of your parent"s size definitely has tax issues. Ours is a revocable trust, so we have control over it as long as one of us is alive. All income is ours and all assets are in our control until they pass to the kids. Trust plan cost under 2 grand. Saves way more in taxes and personal relief, for us and the kids. Our accountant is a certified estate planner, not all of them are. Our plan was done by others.

Its a shame that you couldn't do what my folks did for us. But you can no longer do it because Feds weren't getting any tax money. My folks sold us the farm for $2.00 with the stiulation they get to live in the home till they passed away. The only other stipulation was one of them had to live at least 30 months and after the 30 months we would not have to pay any taxes. Folks gave us the farm equipment seven years before that. I would say you are going to have to find a good estate lawyer and see what your options are.

You do understand that 98% of kids in an ag background encounter very much difficulty in this area.

Meanwhile, your family - parents - are in the few 2% that they care enough about the farm to set things up ahead of time and take care of business and care enough about the farm to be able to let go?

Jeez, suck it up and get over yourself and count your blessed stars!

Ok, that was my initial reaction.

Here's the deal. Your folks worked very hard for what they have. You kids probably did also along the way.

Your folks are not having the rug yanked out from under them. They want dearly to see the farm continue on with you guys, and they are trying to see that happens.

In the current govt and tax and medical world we live in, a trust is the only logical or possible way to do this. Let someone very qualified in these matters set up that trust. It does -not- yank any rugs out from under your folks, that is some silliness you got in your head.

It provides your parents to own and control their farm as long as they are able to, and more important it gives them the piece of mind to know what will happen to their life long work. It gives them comfort and control, not yanking a rug out from under them!

It might be structured as payments, or rent, or whatever, but rest assured the farm will be theirs as long as they are around.

This is a good thing for your parents.

It is Tuesday, man I would be at the lawyers door urging him to get the paperwork done and signed by all parties before the end of the week!

Then in 3-5 years everyone can get a good nights sleep, and your parents can sleep easy knowing their life's work is taken care of. Realize the govt can claw back and change these documents for several years, so it needs to be done yesterday, so it is in effect when it is actually needed. You can not put this off until some other day!

You, you are not the point of all this.

The point is your parents and their piece of mind. The point is the farm, they care about the farm and want to continue control and success of it.

So I kinda come back to, get over yourself, either way, and get this done so your parents can finally take it easy, can finally get a good nights sleep, and can continue with control of their wonderful farm.

This was written with some sarcastic humor and a bit of a grin on my face, but if you need the kick in the rear then take it any way you want, whatever helps you.

Paul

Sis & I were fortunate that folks sold the farm to us for $2.00. Mom went into nursing home first and Dad had to use up all of their savings ( mom passed away just before dad ran out of saving). Dad got sick 5 years latter and went into nursing home and his insurance and medicare took care of bills. The nursing home did ask about his home but since it was over seven years when the transaction was done they couldn't touch it.

We just went thru setting up an irrevocable trust for our parents that are the same age. They too live on the farm. They only own39 acres but its location makes it worth a small fortune. Dad just sold 2.2 acres this spring to the county for a new road and he got $132K for the 2.2 acres. I don't know where you live but in Illinois our great governor has made some changes to long term care. My parents have their funeral all paid for. But without an irrevocable trust if they would need long term care the state can come in and get the money mom and dad paid to the funeral home to pay for long term care. Dad is a veteran and is entitled up to $2,000 a month for medical expenses, which is nice. Assisted living in Illinois is now considered a medical expense so dad's veteran's benefit would help there if they would decide to move into one. Us four kids are trustees of the trust, my one brother pays the bills for the trust. The law firm that set this up for them only does Elder Law Care. They didn't recommend an even number of trustees because it can cause a hung jury type situation on making decisions. But we did it anyway. The cost to set this up was $7500 but we can go there and talk to them any time we want free of charge. They also applied for dad's veteran's benefits. They do 2-3 veteran's benefit applications a week and are more likely to get results compared to a veteran doing it themself and being turned down. If my mom and dad would move to assisted living (out of their home) the house could not be rented because that would be considered income and count against their medicaid. Illinois is treating us right (Not). Anyway this was our situation and I know everyones' is different. I hope you the best of luck.

We have all been to a very competent accountant, (he has been our accountant for 40+ years, so he knows our operation and situation) and have a competent attorney. Mom and dad went into this knowing something needed to be done to protect the farm. I think when we went the first meeting, they wee expecting to just be able to rent the place back to us boys, and things would go on pretty much like always. The second meeting the accountant tells them that they are basically giving away EVERYTHING they have, minus their car and personal items. Now that the "ball is rolling" in getting things finalized, I think the finality of it is sinking in with them. There is a different feeling when we visit them in the mornings. We transferred the cattle brand from them to us the other day, and when they signed the paper giving their cows away, it hurt me SO BAD. I cannot imagine what must have been going through their minds. I know we are lucky to be receiving this opportunity, but it just doesn't feel right. They have a long term care policy. Of course it isn't quite big enough, but it is pretty adequate. Other two siblings are 100% on board with what is happening. Neither one of them has any desire for any part of the farm or ranch, nor need the money. Parents have told them since we have helped them keep the farm, we are going to get it. Parents need to take care of some carry over income from last year, so we are getting a beautiful growing wheat crop and a fully calved out calf crop, with most of the expenses paid for. I know it should be a dream come true, but the feeling I have is similar to when my best friend from high school was killed in a car crash a year after getting out of high school. Seeing mom and dad giving away their life's work is just really painful to me. I suppose it would seem like a huge relief to them to not have to worry about if it is going to rain enough to finish out the wheat crop or if there is going to be enough grass to last the rest of the summer for the cows, but they will worry for us. That is just the way they are. They have NO desire to do any traveling, don't want to move to town and join the coffee club at the local cafe. They were very content to look out the window and watch the heifers growing in the corral and going out to look at the water tanks in the pastures and drive past the growing crops. Don't know if they will still enjoy doing that now or not. Thanks for letting me vent on this situation. I know it is their decision, but I'm not sure if they REALLY want to do it or not.

Ok, that makes a little more sense.

Everyone is having some buyers remorse to put it in a nutshell.

That is normal.

It sounds like you kids were pretty much taking care of things, and the folks enjoy living there and seeing the farm working and helping a bit here and there.

In a few months, everyone will realize you kids are taking care of things, and the folks are living there and watch the farm working, and pitch in a little here and there.

And all that has changed is some paperwork in a safe somewhere, and things are still good and normal down on the farm.

It will come around.

Yes it feels a little strange for a week or month or so.

But that passes, and it is much better for everyone.

It does pass, things will be fine.

Back in the day when dad passed 1/3 of the farm on to me the way we did it, it seemed strange too. A month later he was bossing me around just like always, and he had all his normal say on what a knot head I was running his land like always every year in the past. . Mom planted the garden and raked the leaves just like always.

It was good.

Mom got sick that late summer, and passed on a few later, dad never could handle household stuff on his own and was fading as it was, and had to be assisted living. Those are the tough times....

I think I can relate to where you are pretty well.

Enjoy what you have, it is good now. Not every day is sunshine, but its pretty good.... Take some time with them, and enjoy what is there. Don't look back, don't look forward. Just enjoy today.

Paul

I feel for you and know what you are going thru. We are currently liquidating my mother-n-laws (89) place.

It's just a house on a lot kinda in the country. But it was home for her, and for my wife growing up. Father-n-law (90) passed in Feb and we've been having to help out financially since. Got down to where it we have to sell out to make it work. She moves to our house where we can watch out for her. Working on a in-laws room for her.

It's a big transition going from what she knows to uncertainty. A lot of emotions all around.

If your folks can stay there and your siblings are on-board, your doing better than most.

That's a good idea if you want to give external_link 40% of everything you own. I'm sure he'll spend that money as wisely as you would.

I scrolled down far enough to read John T's post.

What he offered up was pretty good advice in my book. First thing is get a good attorney and tax preparer. Sounds like that is already done and what you describe is their recommendation.

What the professionals are trying to avoid is a huge estate tax bill when your parents pass away.

Some of my family experiences. When my Grandpa died my folks had to borrow money to keep the Govt happy. This was due in part cause Grandpa wouldn't talk about estate planning until he was pretty much on his death bed (to late) (also of note dad was a only child). After my dad passed mom signed off on every acre she could and passed it on to us kids. We three were worried about Mom giving us to much but this was done to take advantage of the estate tax climate at that time and divide things up to avoid a huge bill when mom dies.

The last paragraph is only my family experience and is told just to relay the whys of what your parents are doing. You are paying for legal and tax advice and in my book you would do well to heed it. Also as John T said it is your parents farm to do with as they please, if they please to transfer it to you and your brother and if all siblings are on board you should go along. I understand how you feel obligated, one way to help alleviate your feelings is to go above and beyond the call for your parents, keep the house they are in up to par etc.

jm2cw

jt

Can't add much to this as I have no personal experience, both sets of our parents are still alive, mine are fading as is her dad, but her mother is still thriving and driving a 30' motor home to Florida and back every year (from Central Ohio), among other things.

It sounds like you should be very greatful for what your parents are giving to you and your brother and that your other siblings are going along with it. My family just had a small hobby type farm that Dad had to sell when he retired from his city job many years ago. We only owned six acres but farmed about 300. He sold it out to a friend who built a mega nursing home on it. Had Dad waited the land alone might be worth a $1 million or so today but he wanted the money out of it then. Now my sister is taking care of the folks, living with them for the past several years. I expect they will leave the house to her, and they probably should (although she's lived rent and board free for all that time). Actually she should be in jail as she stole a considerable sum from our brother when she worked for him in a heating/cooling business and fled the state (long story I won't go into). Upshot is I don't expect much from their estate, not much will be left by the time they pass. Besides, there are six kids so even divided up evenly there won't be much.

My wife's mother talked about setting up a trust, to minimize the taxes and shield their assets from the nursing home should it come to that (her dad is probably a few years from the point of needing it), but I fear it may be too late to be valid. She's not brought it up again and I've urged the wife to at least talk to them about their estate and what they have planned for it. She's very reluctant to talk about it, I guess I understand, but hope someone knows what to do should they suddenly pass on.

You are in a very good situation, be happy for yourself and your family and your parents. Best wishes!

CPA Dave here. First...listen to John T. You need a good attorney and there are those who specialize in this. Then a good CPA...not just a "tax preparer". Don't feel bad for your folks, there are ways to structure this that keeps them in control.

The way we have done this in the past is to put the farm into a limited partnership. Parents are set up as general partners with 100% control but only 2% interest...1% each. They are also set up with 98% limited partnership interest. Over the next several years they "gift" you portions of their limited partnership interest each year using the maximum allowed without paying gift tax. Once the partnership is all set up by the attorney, it is generally turned over to me to administer. At year end I have an appraiser give me a value on the farm. We do this every other year and have the appraiser give two letters, one dated 12/31 and the other 1/01. I confirm value and have the attorney do gift letters for the correct % of ownership to transfer. The rest is handled on the tax return. Some folks have abused this in the past "discounting" the property so it is best to make sure it is done formally with appropriate experts and paper trail...in case the IRS questions the valuation. In the end, you and bro own 98% of the place but have absolutely no control. Folks own 1% each and control everything. You each get the last little bit in the will/trust. So don't feel bad because it will make the folks feel REAL good. They worked hard and they want YOU to have it without a lot of tax implications.

Research "Family Limited Partnerships"

HTH

I AM very grateful for what is transpiring, but like
I have said on my other posts, it doesn't feel right
doing it. Am afraid of what it may do to dad.
Wonder if he is just going to kinda give up. Really
no reason to get up in the morning. No hobbies,
lives in the country so no morning coffee talk with
the boys in town. Most of his friends have died.
Happy days ahead for us, but it is bittersweet.

Dave, we DO have a CPA who is very knowledgeable and good at what he does, so he is trying to make this as painless, tax wise, as possible and is going to succeed. It is going to be a good deal in the long run, just really, really hard at this time. Guess I have to big of a heart. I'm thinking with my heart here instead of with my head.

Paul, thanks for understanding what I was saying. Hope it works out like you said it will!!!

PLEASE do not wast time. My sister and I are going through this Right now in New Jersey. Get EVERYTHING into you and siblings names NOW NOW NOW!!! Just hope you get in before that "five year" garbage. The government will take their half your half and another half just to #$%^& with you. What makes it worse is my old man with out even asking us put the farm into that $%^& prezzzervation garbage cause he thought it would be NICE!!! Now the value of the land is no better than a toxic waste super fund sight!!!! HE screwed his own kids. PLEASE PLEASE get your rump in gear and take as much away from the government as possible! We already went with $29,ooo lawers fees and the state bill is still on it's way. BEEN THER PLEASE do not feel like you are bad. You are watching out for YOU.

Before going blind into this check out how much the gift taxes are then the inheritance taxes. You will be surprised as they are both quite high. To get around this we put the land into a trust to our friend when he gets it's he cannot sell it but he can leave it to his children and they can do what they want. It's working for us and would be another way to look into.
Ol John T is a lawyer he won't tell you anything without being payed for it. Although I like some of what he says I don't like the beating around the Bush as he does in these cases.
Walt
PS sorry John.

It is going to happen. Accept it. Now you can do it the right way and legally, or you can let your head rule and fretter away your parents life time efforts because you are too soft hearted to do it properly and quickly. Would your parents really be happier if their estate lost half of it's value, just so they could keep full control a few more years?



3 years ago my mother was dieing with cancer. She wanted to do proper transfer planning. My dad drug his feet but finally went along. We fired the nice guy neighbor lawyer that practiced in his garage. Then we found a top notch estate atty. Lots of talk, what if-ing and forward thinking. They finalized it all about 6 months before mom died. All the estate easily transfered to my dad and it is all set up to be distributed according to his will and trust. Recently I heard him bragging to one of his friends about the very fine and sophisticated estate plan he had put in place.

Well, might look into an attorney that specializes in real estate and such. Your parents want to leave it to their children, God love them and God bless them, and no one wants the government to take it away through inheritance tax, just so some corrupt politician can take the dough or land, direct it to some crony that will funnel part of the goods back to them. Get yourself and your folks an attorney, and maybe question him, her, them about a "living trust". I have a cousin, whose grandfather on the other side left her his farm, through a "living trust" so that she doesn't officially own it, so no inheritance taxes going to corrupt politicians or the IRS, same difference, and she must pass it down to someone else, her children or whoever, and generation after generation, the living trust keeps the farm in the family, not in the hands of some low down, no good, snake in the grass, corrupt...

Anyway, get yourself an attorney to protect your parents and yourself. I need to do the same thing, because after working for what I have, there is no way that I want some no account, slimey...

Love your parents and take good care of them while you can. They did the same for you.

Mark

(quoted from post at 11:18:37 05/13/14) I AM very grateful for what is transpiring, but like
I have said on my other posts, it doesn't feel right
doing it. Am afraid of what it may do to dad.
Wonder if he is just going to kinda give up. Really
no reason to get up in the morning. No hobbies,
lives in the country so no morning coffee talk with
the boys in town. Most of his friends have died.
Happy days ahead for us, but it is bittersweet.

Click to expand...

Well then, give him something to do. Ask him for advice, have him check the cows, service the equipment, whatever needs to be done. Just keep an eye out in case he misses something. Keep him as busy as he wants to be.

Currently there is no Federal estate tax on estates under $5.34 million, so that should not be a concern. Look backs on long term care may be a concern.
BankRate.com

Dad passed 14 years ago and I had moved but was still a partner in the farm. We had a falling out . Ten years ago I moved back and built a house on a section of rail road bed that was mine . Mom wanted to leave the place to me since I worked here from the time I was 13 or so. We did a revocable trust which gives her control and she can change if needed. When she passes it transfers to me . Simple deed change . She has lifetime use of course. I maintain everything and it works out well . I feel no guilt as this is what she wants and I have put my time in.

Glad to hear it. This is a time when truly good professional help is really worth it. I understand about your folks. I see it all the time. It is one of the hardest times of your life because no matter how old or infirm, you draw security from them just being around. From what you are saying they could be around a good bit longer too. Just remember that you come from different perspectives. While yours is painful, theirs is only a little sadness coupled with a great relief knowing they have taken care of the one thing they love above all else...their farm.

OK...comic relief....THEIR CHILDREN. That's what I really meant to say.

I agree with the others: you and your parents need to consult an attorney who specializes in elder law.

No one knows just what will happen in the future. Your parents may pass quickly and normally, or they might linger on for years.

It is incredibly expensive for people to live in nursing homes!!! And the way things are set up with Government laws and regulations, if a person has assets, they are FORCED to sell those assets to pay for the nursing home.

While the guy in the next room gets his nursing home costs paid for by Medicaid. He gets EXACTLY the same care as the person who is paying for the care themselves until they too have no assets or nearly no assets.

My parents worked hard all their lives and accumulated a fair amount of money. Dad died at age 80, and Mom had to go into a nursing home with dementia and Parkinson"s Disease about 5 years ago. We had invested in Long Term Care Insurance and she gets a decent pension and social security, but the LTC insurance will max out next year and stop. I believe that then it will take about a year to go through her remaining money and after that she will be eligible for Medicaid. At over $10K per month, the money goes fast.

I have decided that the way things are now, it is STUPID to not handle your finances in such a way that you can become eligible for Medicaid as soon as possible. This goes against everything I was taught growing up: that you saved money so you had some when you were old and needed it.

It seems much better to transfer assets to heirs earlier, to preserve them, than to end up having to sell off everything.

And the guy in the next room on Medicaid gets exactly the same care as you do, with no financial impact on his family.

A fine state of affairs this Country is in!!! Good luck.