my husband was not diagnosed yet, but I am sure he is getting alzheimer's. My question is I am getting an inheratince from my Father and affraid to put it in the bank if my husband should end up in a nursing home like his mother is. He never liked any of my family so I don't want it to go for his health. Any suggestions of where to put it safe or should I spend it?
Potpot: Why do you anticipate putting your husband in a nursing home? Is he not able to function now?
Real estate at this time is kind of a bad investment, also ties up funds. Whatever you do put it in your name with daughter POD (pay on death) beneficiary if a bank account. You can be sure nursing home would go after it, (people with funds unfortunately are made to pay for those who don't have any)
Protect yourself with legal advice.
It is time to plan ahead with an elder law attorney. I called several on the phone; some actually talked to me in great detail and i went with the one that did that.
Medicaid is an awesomely wonderful program if you need it. There would be an huge army of homeless impaired elders without it. But the complexity of the rules is daunting and I agree ... you should discuss this with an attorney specializing in elder care.