1232 Blue Ridge Blvd, Hoover, AL 35226

Nolan Elder Law and Estate Planning, LLC Blog

Monday, January 9, 2017

"Can I keep my mink coat and jewelry (or tools and guns) if I go to the nursing home?"

Many people worry that they will lose their possessions if they have to move to the nursing home. They fear that the nursing home will take everything, their house included! Let's set the record straight.

 

If you have to move to the nursing home, the nursing home is worried about one thing only. They worry about being paid on time. No nursing home that I am aware of is in the pawn-shop business or the barter business. They want money. They don't want your guns or hunting gear or mink coat or jewelry. They don't even want your house!

 

But here is where it gets sticky.

 

Most people simply don't have $7,000+ per month to pay for nursing home care. The well-spouse and/or the kids simply have to sell off things, the home included, to pay for that care. So no, the nursing home doesn't want your stuff but the family might still have to sell it, at a loss, to pay for your care!

 

WITH PROPER ADVANCE PLANNING THOUGH, this outcome can be avoided! If you want to preserve your jewelry, mink, guns, home, tools or farm from having to be sold to pay for care, now is the time to plan. It wasn't raining when Noah built the Ark. He planned well ahead of need. So should you. Be like Noah. Plan now because for 50% of us, we will spend time in a nursing home before we die. Call for more information.


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