Legal Question in Wills and Trusts in Michigan
Gifting money
How do I protect my father,s assets in stocks and annuities,so if he becomes unable to live at home and needs assisted living, alzheimers unit, etc. he won't have to use those assets ? I am trustee on his trust and have complete power of attorney.
1 Answer from Attorneys
Re: Gifting money
If the answer to this question could be reduced to a paragraph or so, I would be happy to do so. But these are very fact-sensitive situations. You don't mention your father's current health for instance and there are many different ways of handling his money without gifting that might be an option.
Feel free to visit my blog, www.michiganelderlaw.info for some additional information. I would be happy to send you my Guide to Planning and Paying for Long-term Care in Michigan. Also, I have several free workshops coming up in the Detroit-Metro area. You could learn some additional information there.
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