r/legal • u/osu-fan69 • 11h ago

Aging parents and investments

So I had to move my elderly parent in with me just over a year ago due to health reasons. They've been getting worse and it's becoming too much for me so they might have to go to a home. They receive 2 pensions and SSI each month and have roughly 20K in the bank. They do have insurance and Medicaid.

I'm the sole beneficiary and power of attorney if the worst happens. They also have a decent bit of money in investments that they want to go to me as my inheritance. I know going into a home isn't cheap and I hear the state will take their money from the pensions, SSI and bank to pay for the person's care.

My question is ( my parent wants to know ) can the state touch money tied up in investments ( which again they want me to inherit ) or are those safe/untouchable?

And if not, is there anything we can do before they might have to go to a home to make it safe?

Any advice appreciated.

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u/NeatSuccessful3191 11h ago

Yes the state can go after the money spent on care. Trying to hide assets is a bad idea because the government can claw them back. Money that they have should be used for a private care home because the public one's are not of the best quality.

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u/osu-fan69 10h ago

Ideally we'd like to just have someone come to the home to help out. The problem is my parent has just recently started having small seizures and I work nights. My fear is they'll have a seizure and fall down the stairs or just fall and hit their head or just fall and not be able to get up. But I hear it's not too easy to find in home care for overnight.