Protecting assets
My wife and I are 56 yrs of age. We have approx. $800000 (all but $200000 in 401/IRA Etc.)in assests, excluding our home.
We want to protect our assests in the future in case one or both of us were to be in a nursing home.
We are both in good health, and the long term care insurance policies we have looked at todate are not appealing.
How is the best way to protect our assests without buying long term care insurance.
Asked on 1/11/07, 7:50 am
1 Answer from Attorneys
Mary J. Hoeller, R.N., J.D.
Attorney At Law
Re: Protecting assets
There is no black and white answer as any plan must be tailored to meet your needs and changing law. You should consult with an Elder Care attorney familiar with Medicaid planning and go over all options.
Answered on 1/11/07, 8:07 am
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