Quoting Joe Mackey to Daryl Stout on 10-31-18 06:18 <=-

2) Make a ton of phone calls to cash in my Mom's life insurance
policies, stocks, etc. In Arkansas (and possibly elsewhere) Medicaid
"has to make you bankrupt" if you make to much to qualify for it.

That's pretty much the case with Medicare nationwide. If one has
anything it can't be over a few hundred dollars in value.

Medicaid, not Medicare.... Medicare doesn't care if you have other
assets, although if you have too much other income, you might have to
pay higher premiums....

Many people, instead of having someone in their will, give away a
lot of stuff while still alive. And taxes are sometimes cheaper that
way as well since the items are "gifts". Taxes on inherited items are higher, at least in WV where the politicians seem to spend all their
time trying to find the last nickel and dime they can.

Dunno about WV, but from what I know, inherited items are like gifts, tax-free... but if there's income to the estate, someone (and since it's
at a lower rate, better the legatees) has to pay income tax on that...
The estate tax only kicks in at a fairly high amount, a couple million
or so, IIRC....

Basically, my Mom will be broke...I'll have my Mom's car, house, and
my possessions, but no money

Same here.
She gave her house to my brother 60+ years ago when he married.
(Yes, they are still together!)

That's properly impressive... :)

She gave me her car, a '70 Chrysler Newport that nickel and dimed me
to death. After she died I gave it to a friend, forgetting one of her boys was turning 16 who totaled it a few months later. That was the
last car I had, in 1987.

Perhaps it was just deserts for a car that was nickeling and diming you
to death... ;)

ttyl neb

... Hint for Mom: Kids don't really prefer hot dogs to duck a l'orange.

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Daryl wrote --

That's pretty much the case with Medicare nationwide. If one has anything it can't be over a few hundred dollars in value.

Medicaid, not Medicare

My mistake, I meant medicaid.
Joe
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Joe,

That's pretty much the case with Medicare nationwide. If one has JM>> JM> anything it can't be over a few hundred dollars in value.

Medicaid, not Medicare

My mistake, I meant medicaid.

Either way, they call the shots...not the nurses with the syringes. :P

Daryl

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