My wife has just been diagnosed with the beginning stages of dementia, we have no long term health care. I have been told any and all properties should be put in my name as well as bank accounts,c.d.'s and so forth. Is this correct? By the way I live in North Carolina.
1 Answer from Attorneys
The facts are that your wife has dementia and there is no cure. At some point, she will inevitably need to go into an assisted living facility and will need Medicaid. There are rules about Medicaid, but I think the advice is sound. You want to get things out of your wife's name now so that she will own nothing at the time of her death and the funds will not have to be repaid.
Regarding your situation, you might want to consider what you will do should something happen to you and your wife lives. I don't know your situtation, but you and your wife ought to have wills and/or a trust for you providing for your wife, powers of attorney for health and finances and living wills.
I can prepare estate plans for you and her for a reasonable fee. Please contact me at firstname.lastname@example.org if interested. You might also want to consult with an attorney in your area if you wish to meet someone face-to-face.
Related Questions & Answers
Is it against the NC law for a doctor to refuse to give you a copy of your medical... Asked 8/03/11, 8:20 pm in United States North Carolina Health Care Law
RE: Medicaid laws in NC : My elderly father has just been admitted into assisted... Asked 7/08/11, 9:35 am in United States North Carolina Health Care Law
If a patient has a stroke during open heart surgery that is not recognized until 5... Asked 7/07/11, 1:24 pm in United States North Carolina Health Care Law
If i have power of attorney does it give me power over everthing, or just specific... Asked 2/28/11, 6:48 am in United States North Carolina Health Care Law
What is the differnce betwen power of attorney and ececutor of estate Asked 2/18/11, 5:39 pm in United States North Carolina Health Care Law