Time after time folks come here to ask how they can hide mom's assets so she can qualify for a Medicaid bed at a nursing home. Medicaid, being a need-based program funded by public money, doesn't want to provide money for people who have their own money for obvious reasons. But somehow, offspring seem to think that the money mom and dad have saved is there for them. It never occurs to them that the money people accumulate in the productive years of their lives is intended to provide for their needs later in life. That's the purpose of saving or accumulating assets. So people scheme in order to get the rest of society to take care of their family member's needs while allowing the children to get the parents' money when they die. Today it was a question about a parent's IRA and whether that would screw up the Medicaid plan.
So, what do you think? Are you willing to chip in and pay for the care of the parents of these strangers so they can inherit more? Or do you think people should exhaust their own resources before asking for welfare money to meet their needs? I guess the idea that family members should provide for one another is completely out the window since everyone seems to look to the government for all needs these days, but even if kids don't chip in to help mom or dad at least mom or dad's money should be used, shouldn't it? I'm just curious whether this is a complete shift in thinking in our society or if it is isolated just to those who think they might lose out on their inheritance.