Legal Question in Wills and Trusts in Illinois
Asset Protection From Nursing Homes
Will some sort of a trust (married couple with grown children and grandchildren) protect our assets if we have to go into a nursing home.
Asked on 5/23/07, 1:44 pm
1 Answer from Attorneys
Joseph Michelotti
Michelotti & Associates, Ltd.
Re: Asset Protection From Nursing Homes
This is a very complicated area of law and there is no one size fits all solution.
The problem is that the rules were changed substantially in 2005 and Illinois has not made corresponding regulations.
Different solutions are based on age, health, family history and acceptable level of of risk.
If you have further questions, please email me.
Answered on 5/23/07, 2:21 pm
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