Legal Question in Wills and Trusts in Indiana
My father is 87 years old and was put in a nursing home last week. My mother is still in fairly good health and is living in their home. They own their home, 1 car, and have approximately $100K in CDs, savings, etc. The nursing home will cost approximately $4500 per month for my father's care. The nursing home is telling my mother that they can only take up to half of her money, and cannot touch the home and car, if my father lives for several months. He has terminal cancer, and is not expected to live long, but my 2 sisters and myself were wondering what can be done to protect the money and property that my mother and father own. Should we get a living trust or something like that? Can the property be transferred to us in a trust? What is the recommendation here? My parents have a will which basically will leave everything to the spouse who survives, then upon their death will be divided equally among the 3 children.
1 Answer from Attorneys
Please call my office so we can discuss. There is a lot to consider here and too much to go into online. The consultation is free.
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