Protect Your Assets
If you become unable to care for yourself and require nursing home care, the cost will quickly drain your lifetime savings. Contact Willis B. Carman, of Carman, Callahan & Ingham, LLP, today.
Several years ago, after a consultation with Bill, a married couple in their early 60’s executed Powers of Attorney that included Medicaid planning techniques. Recently, the husband was diagnosed with early onset of Alzheimer’s disease and required placement in a nursing home.
Using the Power of Attorney that we drafted, the wife was able to legally transfer the family residence and other assets into her name. This enabled her husband to qualify for Medicaid and preserved the family assets for his wife and children.
Takeaway: Proper advance planning can preserve hard earned assets.