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Author Topic: Asset protection from health care  (Read 2676 times)

Offline Rayh78

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Asset protection from health care
« on: September 06, 2013, 05:07:59 pm »
Thought I had heard it all, but off top of my head don't see anything wrong with this.
Have a friend with about 10 houses that cant afford long term care insurance.
So they plan on getting divorced. This way they could only lose half if one goes into a nursing home. If married they would only be able to keep 26K if they other one of them went in a nursing home.
Have not checked myself. But in our state trust cost are expensive since you cant use a family member and has to be a third party trustee.

Any thoughts?

Offline Gold River

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Re: Asset protection from health care
« Reply #1 on: September 09, 2013, 02:50:49 am »
Hi,

     This is a very confusing post! You have a friend who owns 10 homes? What is the value of 10 houses? Are they paid off? How much money is owed on the mortgage? Fixed or variable? How much money do rents collect? What is the vacancy factor? What are expenses? How much is net operating income? What is the price for nursing home? Is it likely one or both will need care?
Is their a doctors diagnosis of impending death? What state are these folks in? What state is property in?

I am going to send you a PM.


            GR

 




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