Can elderly couple do any Asset Protection planning?
Dear Mr. Premack: My husband (90) is in a nursing home and has dementia, and I am 88. I am seeking advice on protecting our assets. We have about $90,000 in cash, $100,500 in mutual funds, a farm worth $300,000, a rental residence worth $95,000, our homestead, car and personal property worth $115.000. Our income is only $40,000 annually, and we get $17,500 a year in oil royalties. That, of course is an unknown in the future. Will we benefit from protecting our assets at this