What steps should I take to protect the house in case of nursing home costs?
Protecting the family home is usually the number one goal for seniors. They’re afraid if they go into a nursing home, they’ll lose the value of that home. Really, the way to do that is to place the home into an irrevocable trust. It builds a wall of protection around the home, but they’re allowed to live there. Their taxes stay the same, and pretty much everything stays the same, but the house is protected.