How to protect your assets in old age

How to protect your assets in old age

The St. Josef family center is inviting people to an information event on Wednesday, September 25th, at 7 p.m. in the St. Marien daycare center. Under the title “Protecting assets from nursing home costs,” lawyer Björn Jennert will provide information on how to protect your assets from the high costs of a nursing home place, according to a statement.

The monthly costs for a place in full-time care can quickly eat up all of one’s savings – with average personal contributions of 2,500 to 3,000 euros per month. What is particularly shocking is that the home one has worked so hard to build or the assets one has saved up are gradually being used up to cover these costs. What is frustrating, says the family center, is that existing assets do not lead to better care and support compared to others who have no savings.

“But that doesn’t have to be the case. The lecture will show what legal options there are to protect your own assets from state access. One focus will be on anticipated inheritance, through which assets can be transferred to the heirs during your lifetime without losing economic security and control,” the family center said. In addition, important protective mechanisms will be explained that prevent assets from being at risk in the event of bankruptcy, divorce or unemployment of the children. The event is aimed at everyone who would like to find out about asset protection at an early stage in order to be secure in old age and to preserve their savings. There will be an opportunity to ask individual questions, it continues.

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