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Jim, never had no kind of insurance other than automotive as far as I know. I remember about 10 years ago a small tornado came over top his shed which is on the ridge, he was in it and it ripped the hat off his head. The whole barn roof was moved about a hundred yards and rested in one peice. It was about 40′ x 150′. No insurance on the barn and it was the second time mother nature got a hold of it. He was a hell of a an individual and I am glad to have known him. The grandson is like a brother to me, It was tough for him. Sorry for the hijack, the thread brought back a few good memories.
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Paden is right but there are loopholes.
1. Of course, a knowledgeable elder law attorney should be consulted first, in the meantimeÛ?
2. Have your wife talk with her mother and have all liquid asset accounts updated to include the word ÛÏORÛ in them. (i.e.: Mom OR daughter). This is NOT a transfer of funds.
3. She will also need to obtain a durable power of attorney from her mom.
4. Read Number 1 again.
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paden cash, post: 392414, member: 20 wrote: According to my life insurance policy suicide is a no-no
Mine pays for suicide as long as I wait at least 12 or 24 months after making any changes to the policy.
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