Posted on: 06th Apr, 2009 02:37 pm
Please hold back the daggers.
As mom's POA, I did this to protect the asset fom medicade and from another family member who was draining her bank account without my knowledge, but am trying to figure out this:
1. Her house is rented. Do they pay the rent to me or her
2. Do the repairs and taxes come out of mine or her money? I have heard both.
For medicade purposes, what state does she apply when she needs to as she lives four months of the year with myself, my aunt and my brother in three different states. I have researched the "look back periods" for medicade in each, but cannot figure out what state she should apply in.
Also, if you will indulge me. Once she passes, can I "gift" the proceeds back to my siblings under the $13,000 per year rule without having to pay the capital gains or am I stuck non the less.
Any help you can give will be most helpful. Also, if you want to suggest I get a lawyer, i'd love to, but what state?
Thanks so much!
As mom's POA, I did this to protect the asset fom medicade and from another family member who was draining her bank account without my knowledge, but am trying to figure out this:
1. Her house is rented. Do they pay the rent to me or her
2. Do the repairs and taxes come out of mine or her money? I have heard both.
For medicade purposes, what state does she apply when she needs to as she lives four months of the year with myself, my aunt and my brother in three different states. I have researched the "look back periods" for medicade in each, but cannot figure out what state she should apply in.
Also, if you will indulge me. Once she passes, can I "gift" the proceeds back to my siblings under the $13,000 per year rule without having to pay the capital gains or am I stuck non the less.
Any help you can give will be most helpful. Also, if you want to suggest I get a lawyer, i'd love to, but what state?
Thanks so much!
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Hi metinabong
As you have the power of attorney, you can collect the rent from the tenants on your mother's behalf. You have the rights to pay the property taxes and repair the property.
As far as I know, she will have to visit the local department of social services of the state where she lives in order to apply for medicaid. In my opinion, she should decide which state she wants to live in and then accordingly apply for it. It is always better to consult a lawyer. You can hire a lawyer of the state where your mother decides to live in.
Thanks.
As you have the power of attorney, you can collect the rent from the tenants on your mother's behalf. You have the rights to pay the property taxes and repair the property.
As far as I know, she will have to visit the local department of social services of the state where she lives in order to apply for medicaid. In my opinion, she should decide which state she wants to live in and then accordingly apply for it. It is always better to consult a lawyer. You can hire a lawyer of the state where your mother decides to live in.
Thanks.
I know I can collect the rent, but should the check be made out to me or my mom since it is now in my name. I have heard it both ways.
Also, mom is kinda past the "decision" making stage since she has dementia. All of her children except for me are in Florida, I am in WV and her two sisters are in Miss. Which we all share care of her.
Thanks again!
Also, mom is kinda past the "decision" making stage since she has dementia. All of her children except for me are in Florida, I am in WV and her two sisters are in Miss. Which we all share care of her.
Thanks again!