You have some good options. Two major things you should know: (1) we can protect your home and savings; and (2) there is a recent change in the Medicaid rules that allows specific protections for IRAs. This type of legal planning is complicated, but when done properly you can protect all of your family’s assets if your husband needs 24/7 nursing care. You can plan prior to your husband moving into the nursing home, but you can also plan if he is already there. But don’t wait, the earlier you start planning, the better your results. We offer a free analysis to talk about your options. Let me know if I can help.
Glenn Matecun is a partner with the law firm of Matecun, Thomas & Olson, PLC in Howell. He is an attorney focusing on estate planning, elder law and senior Veterans’ benefits, and answers readers’ questions on legal matters affecting individuals, their families and their businesses. Listen to Glenn on Senior Law Radio, WMUZ 103.5 FM, every Saturday from 3 p.m. to 4 p.m. Email questions to [email protected], or if your question is urgent, call (517) 548-7400. Visit us at www.MichiganEstatePlans.com. The information in this column is not intended as legal advice.
What happens when a horse visits a nursing home? Click here to read our blog post and find out!