Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Why would rich people end up in a nursing home?

April 26, 2017nursing home people Rich

0

Posted

Why would rich people end up in a nursing home?

1 Answer

0

Posted

There are two reasons. Assets are quickly depleted. Heirs to your estate have a financial incentive to put you into a nursing home just to save their inheritance! It is unethical, but legal, for someone with power of attorney to take over your assets. They, then put you into a nursing home, pay the cost for three years, then put you on Medicaid!