Want this question answered?
That means that the parent gets some extra money and the property stays in the family.
Normally any debts a person has when they die (such as outstanding fees to a nursing home) are paid out of the estate of the deceased person. If there is not enough money in the estate to meet all the debts then the people owed money get only a share of what there is. Relatives do not have to make up the difference unless THEY told the nursing home THEY would pay the nursing home costs (and signed a contract to this effect).
There is no limit on the amount of money that your parent can give you. You want to do this before they go to the nursing home because the home will take all of their money.
a loan
If you want to start your nursing carrier by entering an LPN school, then you can start with a 1-year training course, which will allow you to get a job as soon as after 1 year of studies. This means that you will be able to start earning money much sooner than in many other professions.
the nursing home probably over charged; I'd keep the money! :]
Not if the money was meant to be an inheritance or gift to that person. If the deceased promised the money in payment for a debt, and there is a valid contract, the creditor can get the debt from the estate.
There is a child caregiver exemption that you might be thinking of. Usually assets are turned over to nursing home/medicad but if a child has been living in the home, providing care, then that person can receive the home. Check around your community for an "elder law" attorney and get this done as soon as possible before nursing home is needed. All the best.
alot of money
Yes. Make certain the person has directed you to do it and make certain the money is used for their benefit.Yes. Make certain the person has directed you to do it and make certain the money is used for their benefit.Yes. Make certain the person has directed you to do it and make certain the money is used for their benefit.Yes. Make certain the person has directed you to do it and make certain the money is used for their benefit.
it prevents unauthorised persons from entering into the site
If the money is in the sole name of the decedent it can be attached for any funds owed to the nursing home or to the government for government provided medical assistance.