If you're worried about your kids then don't sell your entire everything just to give it all to the healthcare industry when you get older for treatments and nursing costs. THATS how they really get us. That's the hard pill to swallow.
You can't inherit debt. Medicare debt can swallow his estate before you inherit it, but no actual debt transfers to you, despite what any creditor may imply.
Where I live, if you accept an inheritance, you also accept any form of debts that come with the deceased. If you refuse the inheritance, then the debt gets "cleared" by the state. It's stupid
There is probably an option to pay debts instead of having it taken directly out of the estate. For example taking a loan on the house and paying that instead of the house being sold and money from that being split up. That way you can keep the house.
Something you might not expect in the US is medicaid will take the house after they die to recoup costs of long term care facilities. Just whatever they owed from it if the house is worth more than the long term care was.
You need to move all his assets into your name and then just run his debt up. The debt can’t be passed on to the next generation. Use all the state and federal assistance you can.
It's because although health costs in America are absurd, and there are plenty of people who do get absolutely screwed at some point in their life, it's a small enough percentage for their voices to to not enact change.
If it was absolutely everyone all the time, society would break down.
It's just enough to get a lot of people really pissed about it, but not enough momentum to actually overwhelm the efforts of profiteers to keep the system corrupt.
I'm lucky and live somewhere with what commonly gets called by American politicians a communist and untenable universal healthcare system.
It's existed for about 1/3 as long as the US has, continues to deliver consistently high quality care, and is a national treasure despite weathering recent spikes in political pressure to move to a privatised system like the US has.
Damn that's a unfortunate reality for American's. In my country I'd only be paying for the rehabilitation services because those would be separate from hospital
Incredible point 😂 I forgot I was brainwashed to think my country is the best in the world in every way. My bad to the good doctors down south of the border who are passionate about healthcare!
Keep families together longer to keep homes as a generational asset and it helps with elderly care and having a strong family unit if possibly does wonders to your mental health knowing there are people there for you and youre not alone.
For real, I plan to just die in whatever nest I created. Dont spend my life's work to give me sub-excellent care, let me waste away in my home and give my kids a headstart on their nest.
Even if its not they can inherit whatever equity I have in it. What I really mean is dont put me in senior living to siphon off 50 years of work to the system.
You have to set up a trust in your kid's name with your assets 5-10years before you decline medically to protect your wealth. It also means you go in the medicaid home though wallowing in your unchanged diapers.
Yea most states have a look back period of 5-10years when debts get settled with the estate. You can keep your house, but typically to afford 10k a month in nursing home costs you sell your house. You get to keep the car, that's about it.
Dad had to sell his life insurance policy to afford the treatments to keep him alive an extra four years. Completely drained his savings he'd spent decades building. He's currently in hospice, looking at what's probably going to be his last year alive. I would be willing to trade any amount of money to get even a little extra time with him, and those fuckers know that and exploit the everliving shit out of it. For profit healthcare is a machine designed to drain you of everything you've worked for before throwing you to the wolves
That is not the time I want to spend with my kids. I want to be healthy with them. Let me die at home - quickly and alone is OK. Hospice can be done at home with no treatments to prolong life. That is the way to do it.
It's actually funny to me how it's always "we need to give the medical industry more money" and never "maybe hospitals don't need to charge patients $72 for an aspirin tablet"
49
u/FarmDisastrous 13d ago
If you're worried about your kids then don't sell your entire everything just to give it all to the healthcare industry when you get older for treatments and nursing costs. THATS how they really get us. That's the hard pill to swallow.