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Protecting Property Assets

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BIG ALFORD

Junior Member
What is the name of your state (only U.S. law)? VA
Unfortunately, we received news that my mother may be in the early stages of alzheimers. My parents want to protect their assets - real estate and cash/cds should she have to eventually go to a nursing home. Their home and rental property is free and clear - no mortgages and is in both parties names. Same for all of their other assets. What steps should be taken to protect the property from a nursing home? They've discussed divorce to protect themselves with assets going to my dad. Thanks for your help.
 


BlondiePB

Senior Member
What is the name of your state (only U.S. law)? VA
Unfortunately, we received news that my mother may be in the early stages of alzheimers. My parents want to protect their assets - real estate and cash/cds should she have to eventually go to a nursing home. Their home and rental property is free and clear - no mortgages and is in both parties names. Same for all of their other assets. What steps should be taken to protect the property from a nursing home? They've discussed divorce to protect themselves with assets going to my dad. Thanks for your help.
How soon is mom going into the nursing home?
 

BIG ALFORD

Junior Member
Who knows? She just started showing symptoms last week - we've scheduled an appointment with a neurologist. If alzheimers is the diagnosis, it's in the early stages.
 

BlondiePB

Senior Member
Who knows? She just started showing symptoms last week - we've scheduled an appointment with a neurologist. If alzheimers is the diagnosis, it's in the early stages.
With all their assests, why shouldn't they be used to pay for mom's care rather than burden the taxpayers?

She does not even sound competent to even sign any estate papers. As long as dad still resides in the home, he'll have some protection. Do a google search on your state. Have dad see an attorney.
 

rowz

Member
sounds too late to me.

make plans for the family to care for Mom and therby preserve the assets.











Or not.
 

aanubis

Member
What is the name of your state (only U.S. law)? VA
Unfortunately, we received news that my mother may be in the early stages of alzheimers. My parents want to protect their assets - real estate and cash/cds should she have to eventually go to a nursing home. Their home and rental property is free and clear - no mortgages and is in both parties names. Same for all of their other assets. What steps should be taken to protect the property from a nursing home? They've discussed divorce to protect themselves with assets going to my dad. Thanks for your help.
You should have titled this "Protecting the inheritance".

Why, why oh why do people think they are entitled to an inheritance while taxpayers pay for someone's care? What is wrong with your dad being financially responsible for his wife?

What a novel thought, for people to take responsibility and not have their hand out.
 

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