Protecting assets

[jvogel]

What is the name of your state? California. My father, age 87, owns his house worth $700,000 and it's free and clear. He also has about $150,000 in mutual funds and no other assets. If he goes into a nursing home can they attach his house? Can they attach the mutual funds? If so, what should he do to protect these assets?

 

[ShyCat]

He has sufficient assets to pay for his own care. Until the money runs out, what's the problem?

Of course the nursing home will expect to be paid. Are you expecting us taxpayers to pay for it so you can inherit the whole $850,000?

I wonder what income tax rate would be sufficient so no one has to pay for their own nursing home care....