Late Life Divorce and Asset Protection
Posted by Jerrold Bartholomew on March 5, 2008
Many Elder law attorneys advise loving couples to pursue divorce as a method of asset protection. I have never found the technique necessary and, frankly, find the approach ethically questionable. Alternatives exist for both pre-planning and crisis planning that avoid the murky waters of a consensual divorce between an otherwise happily-wed pair. It is my view that you should not have to pretend to be something that you are not in order to protect assets. Everything is always disclosed in the Medicaid applications I advise clients on and the asset protection plans I create. I have helped dozens of couples protect their estates from the cost of long term care and there has never been a reason to resort to divorce.
