Wills And Living Wills

Does a living will protect your assets if you're in a retirement homea Home nursing care of the patient's life goinga If will be transformed into an irrevocable trust assets to savea Is that another person be appointeda Thank you for all constructive responses.

A living will has to do with who determines when the plug can be removed when you are near death. It has absolutely nothing to do with monetary assets. And no, a regular will not protect your property when you are in a nursing home. I suggest you consult a lawyer.

Each state is different. For example, in California, I think your house (up to $ 94,000 of equity in the house) is protected. Otherwise, everything is fair game.

irrevocable trusts probably provide the best protection.