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Eldercare
Reply to "Elderly Parent Re-marrying. Protecting Assets."
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[quote=Anonymous]My MIL remarried at age 73 to a similar aged widower. Prior to remarrying, she was in a comfortable financial situation while he had more assets and income. It's a great win for both: she takes care of him, and his financial resources afforded her a better lifestyle (not luxury by any means, just a step up). They've had many great years so far, though he's slowing down with pains and memory loss, so we foresee greater need for care soon. A lot of the burden of care will fall on her, and they will need to tap into his main asset to pay for a lot of it. I think the woman's financial situation has a bearing in this situation. Is she fully independent and in good health? Does she have huge debt? Is she supporting anyone? Just some food for thought. You definitely want to preserve some of his assets for future care, and it's just prudent financial planning. [/quote]
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