Re: Inheritance issues,,

Posted by John T Country Lawyer on June 16, 2007 at 05:42:24 from (66.244.83.147):

In Reply to: Inheritance issues,, posted by Mark/ on June 16, 2007 at 04:35:10:

I do some limited estate work as part of my semi retired country law practice and see some sad things when mom or dad pass away. It seems it never fails, daughter Mary lives next door and does all the work n takes care of mom n works like a slave and pays lots of expenses,,,,,,,, butttttttt when mom passes away its big shot brother Johnny who never visits or helps and lives 2000 miles away who comes in and takes over and bosses n bullies everyone else grrrrrrrrrrrrrrrr

If our aging parents want the kids to have an inheritance its EITHER purchase Long Term Care Insurance, but if not, bill collectors, doctors, hospitals, medicare etc. etc. may get all their assetts UNLESS they do some planning like 5 years BEFORE they require nursing home care, such as disposing of their assetts by giving them to the kids or use a NON REVOCABLE TRUST and other things such as Deed the home to the kids but reserve a Life Estate etc. I advise aging clients ITS BEST NOT TO OWN ANYTHING WHEN THEY GET OLD...........That coupled with a good Will and Durable Power of Attorney plus Appointment of a Health Care Representative (Health care Power of Attorney), Joint Survivorship Accounts etc. EXECUTED WHILE THE PARENT IS STILL MENTALLY COMPETENT can save a ton of time and expense and hard feelings later. Sure, its business for us lawyers, butttttttttt its wayyyyyy less expensive to do a few things while the parent is competent versus afterwards when doctors and medical experts n courts n lawyers etc etc are required to do a full blown and often contested Guardianship.

As far as Wills and wanting the kids to share equal or dis inheriting a child they dont like, seems the child who vists the most is the one the aging parent remembers and prefers and its best to have them execute wills longgggggg before mental competency can ever be questioned.

Nuff said, yall take care and be good to your kids, they're the ones who choose your nursing home lol

John T Retired Electrical Engineer n Country Lawyer in Indiana

Replies:

• Re: Inheritance issues,, Hal/WA 20:04:02 06/18/07 (0)
• Re: Inheritance issues,, chuck t 09:24:13 06/16/07 (1)
  • Re: Inheritance issues,, John T 10:35:49 06/16/07 (0)
• Re: Inheritance issues,, Mark/ 05:58:14 06/16/07 (2)
  • Re: Inheritance issues,, Walt Davies 07:47:32 06/16/07 (0)
  • Re: Inheritance issues,, John T 06:46:12 06/16/07 (0)

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