Legal Question in Wills and Trusts in Minnesota

is a living will a good thing to do?

If one retired at 55, had a stroke at 57, and was placed in care-facility, unable to be at home.. How can ones' assets and 401k be saved for wife, not taken for health-care help? Or is everything always taken, no matter how one tries to fight it?

Does a living trust help in this kind of matter?

Asked on 4/20/05, 10:12 pm

2 Answers from Attorneys

Re: is a living will a good thing to do?

Yes, a living will is always a good idea as it sets forth your medical instructions for care if you can't communicate with your doctor. Minnesota has an expanded form called Health Care Directive.

Regarding the potential nursing home expense: a spouse is allowed to keep certain property including the homestead, a car, household goods and at least $28,000 of marital assets. A 401k is included in determining what assets may be kept. There are many legal and appropriate ways to be eligible for Medicaid without impoverishing a community spouse and you need to discuss your situation with an attorney that is experienced in Elder Law and nursing home planning.

Read more
Answered on 4/20/05, 10:29 pm
David Kelly-952-544-6356 Kelly Law Office

Re: is a living will a good thing to do?

As Mr. Hughes said, you need to go face to face with a competent elder law attorney. For one thing, there are amounts that you can give away which if kept low enough stay below the medicaid radar. In other words, a gift giving program of approximately $4,000 per month could help you transfer assets to other relatives and still not disqualify you.

BUT this must be done very carefully. Don't start without a careful analysis of your case.

Good luck.

This response is for general information purposes only and does not create an attorney-client relationship. You are advised to consult the attorney of your choice concerning the details of your case.

Read more
Answered on 4/21/05, 10:01 am

Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in Minnesota