DEAR BOB: Thank you for recommending, about six or seven years ago, that my husband and I set up a living trust for our major assets. But the first lawyer we consulted said living trusts were a rip-off. However, a close friend recommended her lawyer who set up our living trust and deeded our four properties into our living trust. All went well until my husband became afflicted with Alzheimer's disease. He quickly deteriorated and, after consulting our two adult children, we agreed he should be moved to a convalescent home specializing in Alzheimer's. Unfortunately, such care is not paid by Medicare. I had to sell one of our rental properties. But, thanks to the living trust, I had no problem doing so. Then he suffered a serious stroke and had to be moved to a higher, more expensive, level ...
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