QUESTION

Do I need to do anything or will New York simply take the remaining $13,800 in her remaining checking account?

Asked on Jan 29th, 2013 on Estate Planning - New York
More details to this question:
My aunt passed away recently after spending two years and $300,000 in a nursing home. She went on Medicaid on July 1, 2012 having spent down her assets to under $14,000. She had a will in which I was executor. The nursing home handled all the Medicaid paperwork, which I supplied to them , having had POA while she was alive. She also had a safe deposit box, which I know contains nothing but irrelevant papers, since I had to go into it to get info for the Medicaid application and a storage unit for which she paid $100 per month, which contains nothing, but junk. I have no money and am inclined to do nothing concerning any of these matters, and let New York State do its thing. Her will has not been put into probate since, as I understand it there will be nothing to probate. I don't want to be stuck with any expenses since I don't think there will be any way to recoup them. What do you think? Thanks!
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1 ANSWER

Personal Injury Attorney serving Yonkers, NY
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I am sorry for your loss. If nothing is done then the funds will eventually escheat to the State of New York. It is unfortunate that all $300,000.00 was spend on nursing home care. With proper planning she could have gotten Medicaid benefits much earlier and at least $100,000.00 could have been preserved and passed to family members.
Answered on Jan 31st, 2013 at 8:08 PM

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