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frank1945 Asked March 2014

Where can you put an inheritance from a deceased parent before a spouse goes into a nursing facility?

My father left me an inheritance and I need to put these monies some where to keep from giving to a nursing facility if my husband should have to be admitted in the future

Cathy24 Mar 2014
You should absolutely see an Elder Attorney ASAP. I can tell you that the first answer is excellent. I would only add that part of the discussion with your attorney should be about putting this money in a retirement type account in your name only. That way it will likely never become available for your spouse's nursing home care.

palmtrees1 Mar 2014
P.S. I have some experience with this sort of thing. My husband inherited a large sum and it is with a money manager with a well know firm. Not one penny has been shared.......but that is a totally different story.

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palmtrees1 Mar 2014
First off don't commingle the money with your spouse. Set up an account with your name only and do not use this money in any way toward your expenses. It would be best to see an attorney about all of this. Individuals are allowed inheritances to be separate from the monies used in your marriage. The problem is if you put your husband on an account or put money into a joint account it is then commingled. If you use it to buy a car for example for the both of you, then it is commingled. Please see an attorney ASAP.

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