From time to time I get a question about whether an elderly parent should transfer their home or investment accounts to their children while they are still living. Usually the reasoning is that if they need to go into a nursing home for any length of time, the expenses will drain their assets and there will be very little money, if any, to pass down to their heirs. [Read more…] about Gifting Assets as Part of Long-Term Care Planning
Long Term Care (LTC) Planning
“OK Mom, talk to you soon. Love you.” Kelly hung up the phone and walked out of the kitchen into the family room where her husband, John, was watching the game.
“Did you overhear any of my conversation with Mom?” she asked, “I’m starting to worry”.
“You know me better than that, the Hokies are on”, he replied. If John was watching his beloved football team, the house could be burning down around him and he wouldn’t notice until the TV melted. If he was only that passionate about her, Kelly thought. No, this was not the time to start that again. There was a more important topic to discuss. [Read more…] about A Hidden Gem For Long Term Care Information