Search found 4 matches

by elgobnhoj
Sun Aug 16, 2020 10:25 am
Forum: Personal Finance (Not Investing)
Topic: Protecting assets from mental disorders (e.g. Bipolar)
Replies: 24
Views: 2718

Re: Protecting assets from mental disorders (e.g. Bipolar)

Also, how do trusts work in general? For example, say a person's largest access to financial instruments are: Home Ownership Tax Advantaged Accounts (e.g. Vanguard IRA/Rollover, Employer 401k, HSA) Credit Cards (with high limits) Would a trust be able to help protect any of these, or would it only b...
by elgobnhoj
Sun Aug 16, 2020 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Protecting assets from mental disorders (e.g. Bipolar)
Replies: 24
Views: 2718

Re: Protecting assets from mental disorders (e.g. Bipolar)

There is no right answer for this. It is dependent on the type and severity of illness (Bipolar I, II, and so forth), family dynamics and state law. An attorney who specializes in this will help; some are sometimes appointed guardians by the courts. I help care for a family member with severe menta...
by elgobnhoj
Sat Aug 15, 2020 9:19 pm
Forum: Personal Finance (Not Investing)
Topic: Protecting assets from mental disorders (e.g. Bipolar)
Replies: 24
Views: 2718

Protecting assets from mental disorders (e.g. Bipolar)

Mental illnesses like Bipolar Disorder can pose significant risk to one's assets during periods of mania. While medication, therapy, and lifestyle choices can help mitigate these risks greatly what else can be done? I've come across some resources that recommends special purpose trusts to help reduc...
by elgobnhoj
Thu Jul 23, 2020 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: Elect HDHP COBRA continuation or pay hospital and ambulance bill directly?
Replies: 8
Views: 737

Elect HDHP COBRA continuation or pay hospital and ambulance bill directly?

I went to the Emergency Department this week. This involved an Ambulance trip of about 10 miles and a short stay in the ED without medication or tests (other than ECG, temperature, and other basics). I was discharged within an hour and it appears to have been a false alarm. I'm currently unemployed,...