[Larry Lucido]

I agree. It’s one thing to have sympathy if he has no resources but I can’t sympathize with his desire to sequester any inheritance for some purpose other than paying legitimate creditors.

That’s why I don’t practice so-called “medicaid planning” - the practice of legally giving away all your assets to your kids so it won’t be subject to the “spend down” provisions of medicaid. (Unlike normal estate planning, which is getting rid of money to keep it exempt from death taxes, a completely legitimate consideration).

[JamesP81]

I agree. It’s one thing to have sympathy if he has no resources but I can’t sympathize with his desire to sequester any inheritance for some purpose other than paying legitimate creditors.

I can. There are some family heirlooms that no one, and I mean no one, will get their hands on. I would absolutely transfer those to children or relatives to keep the hands of anyone else off of them. Granted, most family heirlooms might not be worth all that much. But the ones in my dad's family are worth quite a bit more than his house.

I also find it morally suspect to spend your children's inheritance before they even get it.