While visiting with my friend and client Mrs. Baker, I asked how she felt about leaving her estate to her kids.  She looked at me, and with a wry smile said; “I want to spend my last dollar on my last day.”  After we laughed together, she confided in me that she didn’t really want to disinherit her children, but she was concerned about two things.

First, she really does not want to be put into a nursing home…ever!  “Nursing homes are for old sick people” she said, “I want to stay at home”.

Second, she had a friend who passed away two years ago.   Her children spent the entire inheritance in just 18 months. “I don’t want my kids to squander what they receive.”

So, I summarized, “you want to have enough money to retain your dignity when times get rough, and you want whatever is left for your kids to last awhile”.  “Is that right?”, I asked her. “Exactly!”

Mrs. Baker is like a lot of folks, isn’t she?  The real possibility of having to go into a nursing home for their last days just does not seem very dignified.  She wants to be sure her assets will allow her children to provide home health care or even private duty nursing if needed. Then, once she is gone, she would like to know that whatever is left will be used wisely. Her challenge is to develop a plan that works.

There are several ways that Mrs. Baker can accomplish both important goals. 


Mike & Angie Murphy, have been helping clients in Colorado for more than 49 years.  They are based in Windsor, CO and may be reached at 970-310-8201, 970-310-8369, on our website at Go-Seniors.com, on FaceBook at Go-Seniors Insurance or Email at IDMcoinc@hotmail.com.