Scot

After discussing this with co-workers, it seems like the plan most people take is to hide the $ their parents have, then make Medicare pay for the nursing home..... There is just a 3 year lookback period, then after that the $ is considered gone from the parents and the Gov't then pays.

I am not in the situation, but if you have the $, shouldn't you pay? Why is everything a scam to get out of paying?

I could see someone not wanting to pay estate taxes...that is basically double taxation...but that is only for the rich (federally) and only about 5% at the state level..... but paying for medical bills, care, etc.. .seems like it should be the responsibility of the person if they can afford it.?

mingster

well, there's tax evasion and there's filial duty - i don't know what typical americans do to their aging folks, but i have seen the stereotypical stuff on TV and movies. as much a yank as i am, my family's tradition is to have the eldest son take care of the parents until the end, no matter how much $ or time it takes, so in a few years i'll step up to the plate and ask my folks to live with me (or at least very close by) so i can take proper care of them. that is the typical chinese way.

it's ultimately your choice whether or not you want to pay.

Ubetit

Here's a topic that really gets my blood boiling. The amount of greed that families/people exhibit is amazing. Most are only concerned about the amount of money that will be left to them in the will.

Scot

Mingster - That is pretty decent of you! I can't stand my dad... I wouldn't want him to live any where near me!

The people I work with all have these semi-eloborate schemes where they sell the parents house to themselves or something like that, then don't pay the parents....... bla bla bla...... then they expect the Gov't to pick up the full bill.

Now that I have spoken to a few people about it, that seems to be the normal expectation.... make the Gov't pay....... Of course when the Gov't is paying you generally get the nasty Nursing homes... not real neat!

I guess I could understand if the parents had no money....... then one guy has a irrevocable trust that he keeps all the $ hidden in after 3 years..???

vananron

Bottom line, if the people were not smart enough to plan ahead, then they do not deserve anything. I am ruthless, I believe that you should never get back more than what you pay in. Otherwise that would be running a debt. That means that the taxes would always have to increase, I beleive that As of today, they should cutoff all new service to people over 30, then grandfather the rest in. Take the money that was allocated to go toward elderly care, and use that to educate the public on BASIC financial planning.

brantshali

For the most part, the US Government will pay for my parents when they get old as part of my dad's retirement after 39 years of military service. Their savings will likely go towards some portion of whatever is left over and I will happily pay the rest.

thunderchicken

I have an extra bedroom. No way are they going to a Nursing home. Ever.

brantshali

You wanna take my parents, too?

Seriously, I intend to take whatever steps I can for my parents to live under their own roof for as long as possible...or move to a location of their choosing. I will gladly make whatever sacrifices I need to in my life to accomodate this, too. I don't want this for ME, but I want this because I know that it is what they want.

My parents have bent over backwards supporting me over the years and it is the least I can do to help them when they need me.

wantone

You guys are good kids I intend to lock mine up Kidding...

mingster

i guess everyone's conditions are different, and of course the ultimate decision is yours and your folk's. i don't think i've ever even giving a thought of not supporting my parents after they retire - it's just natural. i know my wife will be annoyed, but hey, she knew that coming into this family. her brother will be responsible for my in-laws