Thursday, July 31, 2003

Assuring that Boomers Inherit Houses or Care for the Poor? An interesting editorial in the Seattle Times talks about the common practice of a client putting money into his or her home for improvements(the home and all improvements are exempt and need not be sold to pay for the owner's long term care in Washington state) and asks whether it is good public policy or not to let people keep their homes while getting medicaid? Read the article by clicking here My personal opinion is that a person's home should be exempt from medicaid laws (meaning it does not have to be sold and the proceeds used for the person's care). In reality, it is usually too expensive for the heirs to pay for the upkeep of the home for an indefinite period. Many times the high cost of maintaining the home means it must be sold, but the family should not be forced to sell the home. Just my opinion....  12:24:35 PM