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Old November 24th, 2013, 10:00 AM
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thecruisequeen thecruisequeen is offline
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Quote:
Originally Posted by ship2shore View Post
I'm certainly not giving my kids power of attorney over my estate, though....

Power of attorney or selling the house to the kids for $1.00 is a good idea. I know way too many older people that down the road needed a nursing home and the nursing home drained them of all their assets. Nursing home in my area are $10,000 + a month.

Hiding your assets as one gets older is the way to go. Close bank accounts and go old school with money under the mattress . Bank safety deposit box is good too.

Nursing home will drain you out leaving you only a few thousand for your funeral..

Selling the house to the kids there is a 5 year wait period so if you need a nursing home within the first 5 years they have the right to put a lien on the house even if the house is in the kids names.

Many older people end up in a nursing home especially if their health is getting worse and it is difficult to impossible to care for them at home.

Nursing homes love pensions, bank accounts and real estate!
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