I took Elder Law in law school a couple of years ago. When we got to the section on long term elder care and this issue about Medicaid, the professor asked if we thought Medicaid planning (that’s the legal industry term for advising people on how to spend down their assets to qualify for Medicaid for the purposes of long term care) was ethical. This was a big question in the legal field several years ago, because this kind of planning sometimes involves advising clients to do things like transferring ownership of their home to their children, but doing so at least 5 years before you think you’re going to need to be in a nursing home in order to get around Medicaids rules. And some people think helping people get around rules is unethical. So my professor asked this question in class. I raised my hand and without a second’s hesitation said it was absolutely ethical. She asked me why I had no qualms about it. I said, “Because they didn’t create this horrific system that forces people to live in poverty in order to qualify for help. It’s inhumane. So anything I can do to help them navigate this system is perfectly ethical.” My professor agreed with me, for the record. She grew up in the Netherlands, where they take care of their elderly. She was just surprised, because the question asked of US law students usually provokes some debate on the ethics of this. No one in my class disagreed with me, but it was a very small class.
Regarding turning over assets (such as home ownership) to children, that’s more a way to avoid probate. At least it was with my family, as it was technically “all on paper” … and there was good trust among us. Everything went smoothly in the end, but that five-year wait was scary. Yes, it’s a “make-you-poor” thing, as well, but doing it all legally is well worth it for peace of mind, all around. Having good health insurance was key, however, in being able to have parents remain in their own home until the final days. That is, with familial care being given throughout. I realize that it’s not always possible, which is very sad.
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Proverb time! “Fool me once…”
I like that article’s “The three-year cruise is canceled” title - This is obviously a ramppull!
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