Reply #2: This already happens today with nursing home care

[tnlurker]

My 86 year old father as been in the nursing home for over two years now and has spent all of his saved stock market income and now all of his IRA savings and we are trying to sell the house so he can go through all of that before he qualifies for Medicaid. We technically don't have to sell the house but in Tennessee if you go on Medicaid then you have to repay Tenncare (Tn version of Medicaid) from the estate once he dies.
Since the house is in a different part of the state from the kids and now Dad it is difficult to maintain and it will be easier to sell it now.
All the nursing homes around here are corporate owned. I think the object is to suck all of his money into corporations before he dies so none of the kids and grandkids can have any of it.