Protecting Family Assets

[b_small5]

Help! My parents live in Springfield, Missouri and are both close to 70 years old. They both may have to go into residential living facility or even a long term care facility before long. Anybody know if there is a way to keep their home from being sized or a lein put on it? I grew up in this home and put years of sweat equity into it and don't want to see it "swallowed".

 

[loku]

There are very strict laws, with criminal penalties, designed to prevent people from giving their property away at the last moment, or even within a few years of the time that they enter a nursing home or other care facility, if the result is that the Government will be expected to pay the costs of nursing home or other care, rather than the person himself from his or her assets.

If you anticipate that your parents may have to enter a nursing home or other care facility down the road, an elder care attorney may be able to help you create a plan that will both protect much of your assets and make you eligible for Government benefits.