The Elrod Firm

Asset Protection

Is It Too Late To Protect Assets From Nursing Home Costs?

Justin, My mom has been living in a nursing home for the last half year, and she is depleting her savings at an alarming rate.   In six months she has spent over $35,000 on nursing home costs, and the spending is causing her tremendous anxiety.  She and my late father never spent a dime on themselves, and they saved all their lives.  Mom feels helpless now that her savings is getting eaten up so quickly.  Is it too late for her to hire an attorney to try to protect her home and savings?

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The Plan That Failed

Elbert and Florene were good people. Their story probably sounds pretty similar to the experiences of your own family. Elbert retired early from the power company because he saw too many friends die too soon after retirement. He wanted to enjoy at least a few good retirement years. As it turned out, he lived decades in retirement, and for most of those years, he stayed busier than when he worked.

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Isn’t My Will Enough?

Justin, My daughter keeps telling me that I need to see an attorney to make sure my “affairs are in order” and I’m getting sick of it. Several years ago I signed a last will and testament. Shouldn’t that be enough to get her off my back?

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What Is The Most Common Problem With An Old Trust Plan?

Justin, My name is Mike, and I am a long-time resident of Hot Springs Village. Before retiring, I had my attorney in Jonesboro setup a Revocable Living Trust for me. I had to go through probate court when my father died, and I wanted to ensure my children avoided that. I think my legal affairs are in order, but I need a specialist’s opinion for peace of mind. What is the most common problem you see with old trust plans?   Should I be worried?

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How Can We Afford This Nursing Home?

Justin, My mom is currently in rehab at a nursing home, and her insurance is covering all the charges. But her care team told us yesterday that she will need to transfer to the long-term care unit soon. My dad still lives at home, and they don’t have enough to cover the nursing home costs and meet his expenses. I was told that Medicaid could help, but they would have to get down below $2,000. My dad will be broke! Do we have any other options?

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