Discussion On Protecting our Assest!

christy · 07-12-2008, 01:51 PM

I hope that I am not totaly off the subject here. But I am wondering if anyone has any ideas for me and my husband in protecting what we have for later in the event one of us should become ill. This has really cause some concern for me and husband over the past year after watching my grandparents dwindle down to nothing. My grandpa died about 5 years ago. My grandma is deahtly ill. Their assets was worth well let's just say a small forturne my uncles have basically taken over everything and just in the past month I have found out that everything thing they had meaning my grandpa and grandma is practically gone. I don't want anything like that to happen to us. I want what we have and are still working for to be used for our retirement and to go to our children later on down the line. What can we do to prevent something like that from happening to us? Also what if one of us God forbid should go into a nursing home do they take everything?

Lissy · 07-12-2008, 03:40 PM

Do you mean that your uncles have sold and spent everything? If that's the case, one thing you can do is form a trust fund. Your assets will work & make money for you and your children, and you will be receiving regular income through the trust fund. No one will be able sell any of the assets.

jsfarris · 07-12-2008, 08:21 PM

The best protection you have is to write out exactly what you want done. If there is no paperwork there is nothing to keep the rotten people away. I watched my grand parents go through the same thing and it was heart breaking. I went right out and got my will done and had a heart to heart with my children and then my family. Every one knows what I want done now. Protect yourself and don't assume that people will do what you want them to. Death tends to change everyone.