Protect my 401k money, and assets

[Chris Sukala]

Hello all,

I have a question, How should a person protect their retirement accounts and assets if a spouse would end up in a situation where they need to be in assisted living?

Here is my thought and correct me if I am wrong or give me any suggestions. Say a person had 401k and some assets available in their name but before anything happens could they invest say with me and be some kind of silent partner. So their money is tied up with us, that way no one could see their assets. Could we do quick deed change on their house, if thats what you call it, to us also so everything is out of their name. then I would just give them a debt card in company name to use.

I am unsure how this works, maybe we should create a trust, I just finished listening to podcast 109@Joshua Dorkin, which was so informative. I suppose I should look for an asset lawyer to talk with.