Legal Question in Wills and Trusts in Ohio

trusts

My father had a stoke. If he has to go to a nursing home how can my mother protect the little amount of money she has in savings. If there insurance does not cover nursing home can nursing home take all there money. Is a living trust an option, and are there differant prices. We had heard 2000.00$ and they cant afford that. Any advise would be helpful.

THANK YOU


Asked on 3/02/09, 10:01 am

3 Answers from Attorneys

Nancy Fioritto Patete Nancy Fioritto Patete, Esq.

Re: trusts

It would require knowing more about your father's situation and your parents' assets to be able to advise. I suggest you consult with an attorney or estate planner.

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Answered on 3/02/09, 10:27 am
Elizabeth Schmitz Elizabeth S. Schmitz Attorney at Law

Re: trusts

I agree with Ms. Patete, estate planning is a very individualized process and it is very hard to give an answer without knowing all the facts. Many attorneys will give free initial consulations.

Make sure you consult an attorney who not only knows estate planning but also can help you with medicaid planning.

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Answered on 3/02/09, 11:36 am
David Weilbacher, Esq. Attorney at Law

Re: trusts

I agree with Ms. Patete and Ms. Schmitz. Without knowing more detail it is not possible to give a worthwhile response. I will tell you that it is likely a trust is not a viable option at this stage. It is not necessarily true that your parents will have to exhaust all their assets, but planning is required. Please speak to an attorney. In all likelihood, speaking to an attorney will save you more than it will cost you.

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Answered on 3/03/09, 6:45 am


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