To qualify for Medicaid, you must have limited income and assets (in most states, no more than $2,000 in your name). If you have more than that, you may find yourself having to "spend down" your extra assets to meet the $2,000 limit.
California Widow’s $27-Million Estate Goes to Alzheimer’s Group
Here’s a really cool story from the West Coast: A childless widow who lived privately and modestly in a small Southern California city has left her entire $27-million estate to the Alzheimer’s Association of Orange County.
The bequest from Helen Banas—who died in August at the age of 95, her wealth unknown to neighbors—is the largest ever for the charity. Ten million dollars will go to the national Alzheimer’s Association, with the rest to the Orange County chapter.
Ms. Banas inherited money from her husband, Alfons, a stockbroker who died in 1958, and built her assets through investing. Friends said she had determined to leave her money to an Alzheimer’s group 20 years ago after the death of her mother, who suffered from the disease. For more details, see the full article as printed in the Orange County Register.
