Legal Question in Wills and Trusts in Indiana

Re: protecting my assets

Be sure you get a power of attorney before he becomes too incompetent to execute one. The medicaid rules in Indiana exempt the residence when there is a spouse (so it does not matter whether it was quitclaimed to you or not); one car is exempt, household goods are exempt; be sure to have prepaid funeral plans if you have more than $75,000 cash. If you do not have a separate source of income, you need to plan on a hearing when you apply for medicaid for him so that more than the standard amount of 1/2 of the liquid assets to be set aside for you to generate income. You should check with your attorney every year or two because the medicaid rules change from time to time.