Commented on a discussion 9/12/2008 at 8:49 am
I've been through this, it sucked. There are ways to put stuff into trusts but it's got to be done at least five years before you need to have it done because of nursing home bills etc. My mother wa
...Read MoreI've been through this, it sucked. There are ways to put stuff into trusts but it's got to be done at least five years before you need to have it done because of nursing home bills etc. My mother was so suspicious she would never even sign a power of attorney and refused to even talk to the attorney about a trust when I encouraged her too....in this case I was having a premonition. If your parents have homes and money they need to get the estate planner at 60 or earlier, don't wait for the problem to happen because it's too late then. I had to scramble like a mad thing to get done what I needed to in two months flat. She had a problem and the nursing home told me nothing (due to hippa laws) until the last second when I'm finally told she cannot be by herself she's not safe.......it was a very stressful and unpleasant mess fortunately I was able to justify a new vehicle and needed repairs to the house and paying off her credit cards to dump the money but I would have preferred to have that inheritence later not now.