A question about nursing home/inheritance
I've always wondered about this and so I am going to make up a scenario - but this could apply to anyone here on the forum (as well as to myself...)
Let's say you have a 90 year old mother and she is in a nursing home. Before she enters, she had $100,000 in the bank
Question No. 1 - Is that $100,000 put in an "account" in her name? If she passes away let's say two weeks after she enters, does the money she had revert back to her will or does the home keep it? I would be surprised if the answer is that the home keeps it.
But an even bigger question... what happens if that woman in the home inherits money from her deceased sister - a substantial amount... does that money get put in the pot with her $100,000 (obviously to be used monthly as payment for her stay) but again, if she dies before the amount is used up - does all of that money belong to her children (who are in her will?) or does the home keep the money to take care of the others in that home?
I hope I wasn't too "redundant" but I think the question is simple...