Taxes and long term memory care.
My 94 years old husband has dementia for approximately 8 years. He was also diagnosed with recital cancer early in 2015. He is very weak but still gets around with aids. He is also incontinent and never complains about any pain, so I have to question him. The bed now is his best friend and soon I do not think he will be able to get out of the bed. He had been in Hospice now for 10 months waiting for the cancer to take over.
My question is if I put him in a facility at approximately $6,000 a month will I have to paid taxes on the money I will need to take out of his stock and bonds?