This is very true, Medicaid/medicare (the old people version) will go through their A Short Poem About Me Beer Boobs Fishing Shirt financial history and see if they did this, and they will put the kids in a very shit situation of either selling the asset and giving the proceeds to the parent to cover costs or so they don’t get chucked out the nursing home. What gets covered gets bumped by the value of the asset. This includes gifting the house, putting the house in an estate, selling the house and gifting the money, etc. Most of the wealth extraction of the elder happens through healthcare and by extension nursing care. Because healthcare is so monumentally expensive very few elderly make it through holding onto significant wealth.
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Only the very wealthy. For whom the A Short Poem About Me Beer Boobs Fishing Shirt bills they receive are tiny in the grand scheme. I’m so tired of this wealth gap society where some people are massively exploited and some people have very easy lives. So, they bought the house for $85k. Paid off the mortgage. Let’s say in 2020 the house was worth $500k. Which is probably a low estimate in most places. It would be very easy to get a $250k loan at low interest with your home as collateral. It’s kinda sad, cause there really is enough economic prosperity for a more equitable existence for all. Certain items like housing, healthcare, and education should be a right of a citizen and not something they need to struggle to achieve.
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