Its not fair but that is life, old folk are not taken into consideration anymore, not by the government, healthcare providers and least of all their children! My parents never had to worry about what was to become of them when they reached old age, knowing that I would take care of them, but I don’t have a clue what will happen to me.
I don’t possess any property, I don’t have a bank balance and I don’t have anything of value! This is because I never looked at protecting myself while I was younger and now that I am getting older I sit with nothing. If only I had someone to explain asset protection to me, I may not be in this predicament.
How many times have we all heard a similar story? Let’s face it, none of us know who we going to marry and if our partners will get on with our parents, so to take out asset protection for the elderly makes sense. We all promise our folks always to look after them, but how do we know we will be able to?
Asset protection for the elderly is vital because it not only helps them feel secure about growing old but they know exactly what will happen to their assets should the time come when they need it the most. If they are ever in a predicament that they can’t go stay with their children, at least they will have their assets to fall back on so they can look into selling property or whatever else to raise funds for a nursing home or whatever else they might need.
Asset protection for the elderly is also important if you want to apply for medicaid. Once you do, they make a list of all your assets then sell it off and pay for your care in a nursing home. If you have asset protection only some of the assets will be available for this, the rest will be legally protected so they will not be allowed to touch it! So if you want a stress free time during your golden years, look into the different companies that offer asset protection for the elderly, get the best offer, have a lawyer look it over and this will be your reality!
