Liquidating assets before nursing home Watch naked girls in sex chat

Caregiving options can be costly, but its possible to find a solution that makes your budget—and your loved one—happy.Getty Images Caring for someone can be time-consuming and exhausting—for you and your bank account.Seniors have various reasons for wanting to preserve some of their assets.

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Federal law now requires a five-year look-back period to prevent just this type of activity.

When you choose a nursing home, look for the signs of a good facility.

Nursing homes are so expensive (about $8,000 a month on average in Pennsylvania) that most nursing home residents qualify for Medicaid to help pay for the cost of their care.

Before they qualify for Medicaid the nursing home resident must “spend down” their financial resources to the low levels required by the Medicaid program rules ($2,000 or $8,000 in Pennsylvania for an unmarried nursing home resident).

"As soon as you need something more than the basics, they raise the rate considerably," cautions Wexler.

Also, you can't assume the facility will automatically up the level of care when your loved ones health situation changes, warns Matthews.That beats spending stressful days trying to find aides and conducting background checks.Next Page: Assisted living options [ pagebreak ]Assisted living "Assisted living is not as institutional and depressing as many nursing homes," says Joseph L.Family and friends can step in to assist, of course, but there may come a point when your loved one needs professional care. Home sweet home In-home health aides average an hour, and hired companions who don't provide health care are slightly less expensive.Do the math and you'll see that for round-the-clock assistance, the tab can run as high as 0,000 a year, making home care a very costly option.You'll need to monitor the situation to make sure he or she is getting the proper treatment.

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