Sisters problems caused her to get moved from memory care to skilled care. Increase in cost goes from $347
a day to $537 a day. Starting Jan. 1, $556 a day. That's $202,940 a year. Wipes, pads, adult diapers, etc.,
all extra. They moved her Monday morning, at which time, they told me both rooms would have to be paid for
until all her things were taken out of her room. Cleaned the room out early Monday morning before 24 hours
was up since her move. That night alone cost $884 total.
When she first went into the home, her son and I met with a lawyer. Mostly simple things, like splitting her
money from her husbands. He also said that we should contact him when she went to skilled care. What he
told me today goes against all my understanding until this time.
He claims, if we liquidate her IRAs, about $800k, pay the taxes, he estimates $200k, the money can be put
into a Medicare irrevocable trust. If that is the actual name, I have no idea. That money could not lawfully
go to her children, but could go to me named as trustee. He did quick math, claiming over 72 months, $8000
a month could come out of the trust. No tax on principle, just on anything the trust makes. Also, he claimed
that I could legally gift all the money, as it came in, to her kids. He claimed getting around the $19k gifting
limit would not apply.
I talked to him today, as her daughter would have a hard time understanding, and her son is working in Japan
for the next two weeks. Said he would lay it all out in an email I could share with them. I keep checking
my mail. |
