Money Inheritance/retirement question

tooge · 11-22-2016, 02:14 PM

Ok, here's the scenario. My Mother in Law is 83 years old. She is currently living in an assisted living facility. My wife does the bulk of the work in taking care of her outside of the facility, driving to Dr visits, taking her out to lunch, any other appointments, etc.

My father in law passed away two years ago this feb. He was a WWII vet, having served in Okinawa in the Marines. After serving in the Marine Corps, he went to work for the USPS, where he retired after 35 years. He has a pension, that my MIL gets from the USPS to the tune of $1700 per month.

My MIL worked for the school system as a lunch lady for over 30 years. She has a pension through a non teachers pension program to the tune of $1600 per month.

My BIL wants to pay $2200 to have some company called American Veterans Aid to do all the paperwork to try to get her the VA Long Term Care Benefit since pops was a war vet. It's the Aid and Attendance program. From the research I can find, she doesn't qualify because she makes too much ($3300 per month) with her two pensions. He says that if she doesn't qualify, then we need to "hide" her money by giving it to both he and us. I'm calling BS.

My MIL has a sizable sum of money in money markets/ CD's, and old war bonds. My BIL is trying to get her to gift as much of that to us, our kids, him, his kids, etc. I think his ass is just greedy because his wife likes to shop and bankrupted them several years ago, but thats another story.

Any of you financial planner types out there know what is the best way to handle her large sum of money, her monthly pension, the VA program, and if it's viable? Any help would be great. Thanks

11-22-2016, 02:14 PM	Topic Starter
tooge MVP Join Date: Feb 2007 Location: Liberty, MO Casino cash: $634112	Inheritance/retirement question Ok, here's the scenario. My Mother in Law is 83 years old. She is currently living in an assisted living facility. My wife does the bulk of the work in taking care of her outside of the facility, driving to Dr visits, taking her out to lunch, any other appointments, etc. My father in law passed away two years ago this feb. He was a WWII vet, having served in Okinawa in the Marines. After serving in the Marine Corps, he went to work for the USPS, where he retired after 35 years. He has a pension, that my MIL gets from the USPS to the tune of $1700 per month. My MIL worked for the school system as a lunch lady for over 30 years. She has a pension through a non teachers pension program to the tune of $1600 per month. My BIL wants to pay $2200 to have some company called American Veterans Aid to do all the paperwork to try to get her the VA Long Term Care Benefit since pops was a war vet. It's the Aid and Attendance program. From the research I can find, she doesn't qualify because she makes too much ($3300 per month) with her two pensions. He says that if she doesn't qualify, then we need to "hide" her money by giving it to both he and us. I'm calling BS. My MIL has a sizable sum of money in money markets/ CD's, and old war bonds. My BIL is trying to get her to gift as much of that to us, our kids, him, his kids, etc. I think his ass is just greedy because his wife likes to shop and bankrupted them several years ago, but thats another story. Any of you financial planner types out there know what is the best way to handle her large sum of money, her monthly pension, the VA program, and if it's viable? Any help would be great. Thanks
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