With safeguarding Their Resources
Taking a few brilliant actions presently can forestall monetary difficulties later
By GREG DAUGHERTY Distributed December 05, 2022
Truth checked by VIKKI VELASQUEZ
After a long period of work, numerous more established Americans have developed a significant total in resources. However, it is highly unlikely that they will acquire significant additional wealth. As a result, it becomes even more critical for them to safeguard the assets they already possess.
The most important takeaways are that while some retirement accounts are shielded from creditors, others are more susceptible.
If they fail to make multiple payments, older homeowners with mortgages on their homes run the risk of losing them through foreclosure.
An older person’s home and other assets can be protected with adequate homeowners and liability insurance.
Elderly individuals frequently have to spend down the majority of their assets in order to qualify for Medicaid.
