Unfortunately, the outcome of depleting most of their wealth for the care of one - leaving the other with slimmer resources - is worrisome and not uncommon. An elder law attorney should be consulted. There are strategies for preserving assets for the spouse of someone needing long term care that can avoid spending down every penny of assets until one becomes Medicaid-eligible. None of these is without it's tradeoffs.just make sure mother is adequately protected in home ownership and that there is a dedicated source of taking care of her, namely her children stepping up and caring for her if most of the parental wealth is depleted by caring for your father.
Statistics: Posted by RationalWalk — Mon Dec 18, 2023 12:04 am — Replies 3 — Views 311